Indian hospitality giant OYO has acquired Paris-based premium rental homes company CheckMyGuest for Rs 230 crore in a mix of cash and stock.

The development comes after the company raised Rs 1,457 crore (approximately $175 million) at a valuation of $2.37 billion.

According to the media reports, CheckMyGuest was previously valued at $110 million.

The acquisition includes the housing renovation business HMG (formerly HelpMyGuest) and the luxury rental apartment management company Studio Prestige, according to The Arc's report.

As of March 2024, OYO operated around 85,000 homes, mainly in Europe, and 18,000 hotels in India and Southeast Asia.

The company has made several European acquisitions since 2021 to expand its presence in Croatia, Germany, Denmark, Spain, and Austria.

Credit - Indian Startup News