After raising $175 Mn earlier this week, OYO has reportedly acquired Paris-based Checkmyguest for INR 230 Cr in a cash and stock deal Chckmyguest was previously valued at $110 Mn, as per reports As per The Arc’s report the buyout also included the housing renovation business HMG, formerly known as Helpmyguest and luxury rental apartment management company Studio Prestige Just a few days after raising INR 1,457 Cr (around $175 Mn) in a down round, hospitality major OYO has now reportedly acquired Paris-based premium rental homes company Checkmyguest for INR 230 Cr ($27.4 Mn) in a cash and stock deal. Checkmyguest was earlier valued at $110 Mn, according to multiple reports.
As per The Arc’s report, OYO has said that it will issue 72.9 Mn shares for the buyout. However, the size of the cash payout was not disclosed.
Inc42 has reached out to OYO for comments on the development. The story will be updated based on the responses. As per the report, the buyout also included the housing renovation business HMG, formerly known as Helpmyguest and luxury rental apartment management company Studio Prestige.
Checkmyguest has a dense presence in Paris. OYO gets to acquire an inventory of premium homes primarily through a share swap over a period,” the report quoted an OYO spokesperson as saying. The spokesperson also said that the deal would involve “some cash outgo, which gets quickly offset since it’s a cash-generating business.
” Checkmyguest was established by Julien Madar, .
