Oyo acquires Data Science firm Danamica

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.

Oyo buys Las Vegas Hooters hotel

In what is its first property purchase in the U.S. Softbank backed Oyo hotels and homes, has bought the Hooters Casino Hotel Las Vegas. Hooters Casino Hotel will now be rebranded and designed as Oyo Hotel & Casino Las Vegas. It provides 657 rooms across 19 floors and a 35,000 square-foot casino.

Earlier in June, Oyo had announced its plan to invest $300 million in the U.S. Currently, there it has over 112 Oyo Hotels in more than 60 cities and 21 states in the U.S. Oyo has been on an acquisition spree. In July, it confirmed its acquisition of Innov8, a co-working spaces provider, highlighting the company’s increasing focus on the fast-growing segment.

Founded in 2013, OYO Hotels & Homes is the world’s third-largest chain of hotels, homes, managed living and workspaces. The portfolio combines fully operated real estate comprising of more than 23,000 hotels and 125,000 vacation homes. Over the years, it has attracted an array of investors including the likes of Airbnb, SoftBank Vision Fund, Lightspeed Venture Partners, Greenoaks Capital, Sequoia Capital India, and Hero Enterprise.

In May, Oyo said it has agreed to acquire Amsterdam-based Leisure Group, from Axel Springer, a media and technology company, for an undisclosed amount. Leisure is a vacation rental company in Europe, which manages holiday homes, holiday parks, and holiday apartments. The transaction was pegged around $416 million, according to several media reports. Last year, it acquired Mumbai-based Weddingz.in, an online marketplace for wedding venues, and AblePlus Solutions Pvt. Ltd, an Internet of Things (IoT) technology company.