By acquiring Checkmyguestlster its presence in the European rental market, Softbank-backed Indian hospitality giant OYO has acquired Paris-based rental management company Checkmyguest. This acquisition, slated to be finalized in the latter half of the year, underscores OYO's commitment to expanding its footprint in the short- and mid-term rental space. While the exact financial terms of the deal remain undisclosed, industry sources suggest that Checkmyguest is valued at approximately €100 million. The acquisition also includes housing renovation business HMG (formerly Helpmyguest) and luxury rental apartment management company Studio Prestige.

A Major Milestone for Checkmyguest

Checkmyguest, co-founded by Joffrey Ichbia, Julien Madar, and Kevin Cohen, has built a strong reputation in the rental property management sector. The co-founders have described the acquisition as an "extraordinary opportunity" that opens up significant development, market, and career opportunities. Writing on LinkedIn, Ichbia stated, “This merger is a major milestone for us and opens up incredible opportunities in terms of development, new markets, and careers.” The co-founders will continue to lead Checkmyguest, ensuring continuity and leveraging their expertise to drive the company’s future growth under OYO’s umbrella.

OYO’s Strategic European Expansion

This acquisition marks OYO’s third major foray into the European rental market since the launch of OYO Vacation Homes. In 2019, OYO acquired Amsterdam-based vacation rental company @Leisure Group, managing over 50,000 vacation homes across more than 20 European countries. Following this, OYO purchased Croatian vacation rental franchise agency Direct Booker for $5.5 million in May 2022, and Nordic-based holiday home operator Bornholmske Feriehuse three months later. With the addition of Checkmyguest, OYO is set to further solidify its position in the European market.

Future Prospects

OYO continues to demonstrate its ambition to grow and diversify its offerings in the vacation rental space. Recently, the company announced plans to expand its premium home rental brand, Belvilla, in the UK, and significant growth plans for its OYO Vacation Homes brand, Dancenter. Additionally, in March, Checkmyguest secured funding through a special purpose vehicle (SPV) backed by Swiss Life Banque Privée to convert vacant offices in Paris into short- and mid-term rentals. This strategic expansion and innovation indicate OYO’s unwavering commitment to enhancing its market presence and providing comprehensive rental solutions to its global clientele.

By acquiring Checkmyguest, OYO not only strengthens its foothold in the European market but also sets the stage for future growth and innovation in the rental property management industry. This acquisition is a testament to OYO's strategic vision and its relentless pursuit of market leadership in the global hospitality sector.