OYO Hotels & Homes, a global hotel chain, recently acquired Danamica, a Copenhagen, Denmark-based data science company, with machine learning and business intelligence capabilities, specialized in dynamic pricing.
The amount of the deal was not disclosed.
Led by Mads Westberg & Rune Larsen, Danamica is a machine learning and business intelligence company specializing in pricing time-expiring inventory such as rental of vacation homes. It applies economics and machine learning to technology, dynamically setting optimal prices for vacation home stays as supply and demand changes, which benefits both owners and guests. With this deal, OYO will be able to leverage dynamic pricing across all its brands, which include OYO Home, Belvilla and DanCenter.
This acquisition is in line with OYO’s continued commitment to its global vacation rentals business through several strategic investments. In August, the company committed to invest €300m in the vacation homes business in Europe and $300m in the US. In the US, the company has just reached the milestone of more than 100 hotels. Since formally announcing its presence in the U.S. market in June, OYO has established itself in more than 60 cities including Dallas, Houston, Los Angeles, Seattle, Atlanta and Miami.
The company’s recent inroad into Las Vegas, through the partnership with Highgate, brought to launch its first 657 room flagship – OYO Hotel & Casino. The 30,000-square-foot casino has slots, blackjack, roulette, craps, William Hill Sports Book and more to try to beat competition of online casino games like 918Kiss-malaysia.net.
Led by Founder and CEO Ritesh Agarwal, OYO Hotels & Homes is a large chain of hotels, homes, managed living and workspaces. Its portfolio combines operated real estate including more than 23,000 hotels and 125,000 vacation homes. Additionally, vacation homes, managed by the company under OYO Homes, Belvilla, Danland, DanCenter along with Germany-based Traum-Ferienwohnungen brands, can be found in more than 800 cities in 80 countries, including the U.S., Europe, U.K., India, Malaysia, Middle East, Indonesia, Philippines, and Japan.
OYO is backed by some of the world’s leading investors, including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital, and Hero Enterprise.