Direct Booker from Dubrovnik Acquired by Indian Oyo for $5,5 Million

Indian company Oyo has expanded as a preferred full-stack vacation homes provider and concluded the acquisition of Dubrovnik-based company ‘Direct Booker’ which has over 3200 homes and serviced 2 million customers so far. The transaction values Direct Booker at around $ 5.5 million. It was started in 2010 by Nikola Grubelic and Nino Dubretic, CEO & Founders, of Direct Booker, a market-leading player in the Vacation Home management segment in Dubrovnik, a key tourist destination in Croatia.

Oyo already owns and operates brands such as Belvilla, DanCenter, Traum Ferienwohnungen, among others in Europe. Direct Booker’s inventory will be available on Belvilla.com and later on its other platforms. This acquisition will strengthen their presence in Europe broadly and Croatia specifically where they already have nearly 1800 vacation homes on the Belvilla platform and over 7000 homes on our Traum Ferienwohnungen platform.

“Homes continue to be an important strategic segment for Oyo. With our leading Operating System, Dynamic Pricing capability, and other data science-enabled features, we have been able to add value to our over 140,000 Home Storefronts globally and I am excited to welcome Nino, Nikola, and the team at Direct Booker under the Oyo umbrella. I am sure Oyo’s cutting-edge technology, distribution systems, and data sciences will add more value to their current 3,200 homes and enhance our collective growth in Europe. We continue to focus on going deep in Europe and delivering the best Vacation Home experiences to our customers“, said Ankit Tandon, Global Chief Business Officer at Oyo.

“We are happy to join forces with a global travel tech company like Oyo. We strongly believe that by merging our technologies and expertise, this partnership will positively impact the Croatian tourism economy, further driving demand through Oyo’s existing platforms spread across Europe. Being a part of Oyo’s network will also increase visibility for the homes listed on our platform, especially across Scandinavian, Benelux, and surrounding countries. The next couple of months will be truly exciting as we work towards building our business together“, commented Nino Dubretic, CEO & Co-Founder of Direct Booker.

With the acquisition of Direct Booker, the Dubrovnik-headquartered company will now become a part of the platform with a presence across Europe. With a coastline of 6278 km, Croatia is known for its islands, islets, stacks, and reefs, making it one of the most popular upcoming tourist destinations in Europe. It is one of the most visited destinations in the Mediterranean, with most tourists coming in from Germany. This can be attributed to the high number of days of sunshine per year.

In 2019, before the pandemic, Croatia welcomed close to 19 million tourists. While COVID-19 took a hit on tourism in the country, in 2021, the country witnessed a strong bounce back in tourism. As per data released by the Croatian National Tourist Board, nearly 14 million tourists visited Croatia in 2021, creating 84.1 million overnight stays. Overall, tourism contributes close to 12% to the GDP of the country.

Serendipitously, the city of Dubrovnik has a long-standing connection with India. St. Blaise is the patron saint of Dubrovnik city. Interestingly, in 1563, the Church of Sao Braz-Saint Vlaho was constructed in North Goa, India. The church bell at this historical church was made in Dubrovnik and shipped over to Goa. The church continues to ring the bell to this day. Direct Booker’s Nino found this connection extremely meaningful and pushed for the signing to take place on February 3rd, which is celebrated as St. Blaise Day in Dubrovnik.