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Time of India
24-05-2025
- Business
- Time of India
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.
Scoop
07-05-2025
- Business
- Scoop
Cloudbeds And STAAH Partner To Enhance Channel Management For Hoteliers
Cloudbeds, the premier hospitality management software platform, has announced a strategic partnership with STAAH, a pioneer in hotel distribution technology. The partnership aims to equip hoteliers with advanced tools for efficient channel management. The new integration will offer real-time data synchronization, centralized inventory management, enhanced reporting, and an improved guest experience – supporting properties in driving revenue and operational excellence. Through the partnership, hotels utilizing Cloudbeds' industry-leading property management system will gain access to STAAH's cloud-based channel management solutions, improving connections with online travel agencies and expanding their direct booking capabilities. Adam Harris, CEO of Cloudbeds, said: 'Distribution strategy separates market leaders from the rest in today's digital landscape. Our strategic partnership with STAAH combines two best-in-class technologies to deliver what our customers need most: more online revenue opportunities and operational efficiency. Together, we're delivering unique solutions that help properties create exceptional guest experiences." Tony Howlett, CEO of STAAH, added: 'Our vision at STAAH is to create a streamlined, interconnected hospitality landscape. By teaming up with Cloudbeds, we are taking a significant stride toward enabling hotels to harness data effectively, leading to quicker, better decision-making. This partnership is a testament to our dedication to revolutionizing hotel operations globally.' The joint effort will provide hoteliers with critical tools to streamline their operations and manage hotel distribution more effectively, enabling timely data-driven decisions and heightened guest satisfaction. About Cloudbeds Cloudbeds is the leading platform redefining the concept of PMS for the hospitality industry, serving tens of thousands of properties in more than 150 countries worldwide. Built from the ground up to be masterfully unified and scalable, the award-winning Cloudbeds Platform brings together built-in and integrated solutions that modernize hotel operations, distribution, guest experience, and data & analytics. Founded in 2012, Cloudbeds has been named a top PMS, Hotel Management System and Channel Manager (2021-2024) by Hotel Tech Report, World's Best Hotel PMS Solutions Provider (2022) by World Travel Awards, and recognized in Deloitte's Technology Fast 500 in 2023. For more information, visit About STAAH Headquartered in New Zealand, STAAH is a world-class hospitality technology platform helping its accommodation providers (hotels, motels & vacation rentals) to grow online bookings & revenue with a user-friendly platform to manage Online Travel Agents (OTA), direct bookings, and online reputation. Founded by Gavin Jeddo in 2008, STAAH partners with over 20,000 properties across 90 countries through its operations in New Zealand, Australia, India, UAE, Malaysia, Philippines, Thailand, Indonesia, Vietnam and the UK, and Europe offering exceptional service in the area of Channel Management, Booking Engine, Websites, Vouchers, Reputation Management & Global Distribution System (GDS). In 2024, the company was acquired by The Access Group, a global leader in business management software.
