Oyo owned Belvilla acquires short-term rental platform MadeComfy
Oyo
owned vacation home management company
Belvilla
by Oyo has acquired Australian short-term rental platform
MadeComfy
in a cash-and-stock deal, according to a resolution passed unanimously (100%) in the Extraordinary General Meeting (EGM) of Oyo parent
Oravel Stays
and seen by ET.
As part of the deal, the company will issue shares worth $ 1.9 million (Rs 16 crore) upfront at $ 0.67 (Rs 57.09) a piece - valuing Belvilla's parent entity Oyo at close to $ 5 billion (Rs 42,500 crore) and deferred stocks post two years worth $ 9.6 million (Rs 81 crore). The transaction also involves a cash payout, which the company did not disclose. Oyo did not respond to ET's queries seeking comments.
As per its website, MadeComfy, founded by Sabrina Bethunin and Quirin Schwaighofer in 2015, manages over 1,200 assets across Australia, including its headquarters Sydney, Melbourne, Brisbane, Perth and Adelaide. It also has a presence in New Zealand, with properties in Auckland, Wellington and Hamilton.
Sources privy to the details said MadeComfy clocked revenues of around $ 9.6 million (Rs 81 crore) in 2024, and operates as a short-term rental property management service with a team that works with property investors to optimize their rental returns.
In 2019, Oyo acquired @Leisure Group, which included the Belvilla brand, to expand its vacation home rental business in Europe. Belvilla, originally part of the @Leisure Group, was later rebranded as 'Belvilla by Oyo.'
Belvilla has a portfolio of 50,000 holiday homes across 20 countries in Europe, including the Netherlands, Belgium, Germany, France, Italy and Spain. It is a full-service vacation home rental and management platform that helps homeowners by boosting demand and in turn increasing revenue via Online Travel Agents (OTAs) and its own website and app.
In December 2024, Oyo acquired
G6 Hospitality
, the parent company of Motel 6 and Studio 6, from Blackstone Real Estate for $525 million in an all-cash deal. This acquisition added approximately 1,500 franchised hotels across the US and Canada.
In an email to Oyo's senior leadership in March, founder
Ritesh Agarwal
had said Oyo is on track to achieve an over 60% year on year revenue growth in quarter four of financial year 2025 at over Rs 2100 crore. ET had seen a copy of the email.
"A key contributor to this performance has been the integration of G6 Hospitality, adding Rs 275 crore to our revenue," stated Agarwal in his email. "Even without G6, our revenue stands strong at Rs 1886 crore, demonstrating robust organic growth of 42%," he added.
Agarwal said looking forward, the company expects a profit after tax of Rs 1100 crore for financial year 2026, and an EBITDA of Rs 2000 crore. He attributed the success to the company's performance in 'core markets' such as India and the US along with 'significant' contributions from emerging markets in the South East Asia and the Middle East.
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