Indian Billionaire Ritesh Agarwal, Founder of Dancenter’s parent company OYO in Germany to boost business

Hamburg, Germany 8^th May 2024 – Ritesh Agarwal, the Founder and CEO of global hospitality technology company OYO is visiting Germany. Agarwal will be in Hamburg on the 8th of May 2024 to meet with Dancenter’s business associates, homeowners, and employees at a local office. He will also be visiting a Danland park, Marina Wendtorf.

OYO operates VRMC providers under OYO Vacation Homes (OVH) brand. OVH operates legacy brands such as DanCenter & Belvilla and online marketplace like Traum-Ferienwohnungen in Germany. Across OVH brands Dancenter, Belvilla and Traum-ferienwohnungen the company currently has over 60,000 homes in Germany spread across key cities Lower Saxony, Mecklenburg-Western Pomerania, Schleswig-Holstein, Baltic Sea, Mecklenburg, North Sea region, Sauerland, Wendtorf, Ottendorf Großenbrode, Kappeln, Groemitz and Gelting. The company is actively looking to expand its presence across Germany.

Dancenter recently announced a ~ €46 million investment plan for Dancenter to double its current portfolio and enhance technological capabilities. Dancenter also joined forces with Vert in the Faroe Islands with an investment of €120K. This is essentially to support Vert's expansion effort as they double their footprint by adding 200 holiday homes in Faroe Islands in 2024.

The company is also doubling down on tech capabilities which include features like keyless entry and smart locks to improve the guest experience. Smart locks will add an additional layer of security as well as improve the convenience of the customers as their entry will become quick and smooth after they reach their holiday homes post a long travel.

“During my recent visits to Europe, I had the opportunity to meet with several homeowners and was truly inspired by their passion. I am looking forward to building on those conversations and finding ways to better support our homeowners and enhance the guest experience. I will be visiting Germany regularly to ensure that we leverage on the opportunity for growth in the German market.”

Funded by marquee investors such as Microsoft, Airbnb, SoftBank, Peak XV Partners and Lightspeed, OYO builds technology products and services out of India for hotels and homes in more than 35 countries, empowering millions of small business owners and entrepreneurs around the world.

OYO was founded a decade ago, following Agarwal's own experiences as a solo teenage traveller in India. The idea for OYO led him to becoming one of the first Asian residents to be accepted to the prestigious Thiel Fellowship, founded by PayPal co-founder and venture capitalist Peter Thiel. Later, as OYO expanded and became one of the most-valuable startups in India, Hurun named Agarwal the second-youngest self-made billionaire in the world. As the company has grown, Agarwal has also had the opportunity to serve as a judge on the Indian franchise of the popular reality series Shark Tank.

Today, OYO has over 170,000 hotels and homes across Europe, the US, the UK and Southeast Asia and the Middle East. Europe is among the company's largest markets. DanCenter operates over 12,000 vacation homes across Denmark, Sweden, Norway and Germany. Since acquiring DanCenter in 2019, Agarwal has more than doubled the company's revenue, turning it into one of the largest vacation rental homes companies in Europe.

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About DanCenter:

DanCenter is one of Denmark's leading holiday home rental companies and has 65 years of experience in establishing contact between holiday homeowners and interested tenants. The holiday homeowner is represented in Denmark, Norway, Sweden and Germany. DanCenter offers a high level of service, stable rental and marketing to holiday homeowners and at the same time ensures a memorable stay for all holidaymakers. Today, DanCenter is part of the European holiday home rental agency OYO Vacation Homes. Read more at www.DanCenter.de

For further information, please contact: press@dancenter.com