OYO buys Copenhagen-based Danamica to boost presence in European vacation rental market
OYO has bought Copenhagen-based data science company Danamica for an undisclosed amount. With this acquisition, the hospitality firm aims to strengthen its presence in the European vacation rental market.
OYO said, “This acquisition is in line with our continued commitment to the company's global vacation rentals business through strategic investments in technology products, processes, and people.”
Maninder Gulati, Global Head, OYO Vacation and Urban Homes, & Chief Strategy Officer, OYO Hotels & Homes, stated, “We are delighted to announce our acquisition of Danamica, a Europe based, machine learning and business intelligence company specialised in dynamic pricing, that will help us be more accurate with pricing, leading to higher efficiencies and yield for our real estate owners and value for money for our millions of global guests, both everyday travellers and city dwellers, that choose an OYO Vacation Homes as their abode.”
Through the acquisition of Danamica, the Gurgaon-headquartered company will further be able to drive top-line growth by leveraging dynamic pricing across all its brands, OYO Home, Belvilla and DanCenter.
Mads Westberg & Rune Larsen, Founders, Danamica, added, “We are very pleased to announce that Danamica is now part of OYO Vacation Homes family. OYO's ambition and growth are extraordinary and we couldn't imagine taking part in a more exciting journey. OYO and Danamica have a shared understanding of the importance and impact of AI and data science.”
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