Oyo Hotels & Homes has acquired Danamica, a
Copenhagen based data science company with machine learning and business
intelligence capabilities specialized in dynamic pricing. This acquisition is
inline with OYO's continued commitment to its global vacation rentals business
through strategic investments in technology products, processes, and people.
Danamica, which was founded in 2016, has built
machine-learning tools and “business intelligence capabilities” to specialize
in dynamic pricing of rental properties. The firm’s algorithm analyzes 144,000
data points every hour and makes 60 million price changes every day with a
prediction accuracy of 97% to help hotels boost their revenue.
Oyo, which is the largest hotel chain in India,
is rapidly expanding in other countries. It has already established a presence in
80 countries. About half of its 1 million rooms are in China. The company has
also acquired multiple portfolios such as @Leisure Group and Innov8 coworking
to expand its branded offerings
OYO, launched in 2013 has a portfolio of 23,000
hotels and 125,000 vacation homes globally present in over 800 cities in 80
countries, including the U.S., Europe, U.K., India, Malaysia, Middle East,
Indonesia, the Philippines, and Japan.
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