India’s OYO scoops up Paris-based Checkmyguest for a whopping Rs. 230 crore

Indian hospitality leader OYO has acquired CheckMyGuest, a Paris-based company specializing in premium rental homes, in a deal worth Rs 230 crore, involving both cash and stock.

OYO will issue 79.2 million shares as part of the transaction, although the exact cash component hasn't been disclosed. CheckMyGuest, which was previously valued at $110 million, has a strong presence in Paris and will bring its high-end rental properties into OYO's portfolio.

This acquisition follows OYO's recent Series G funding round, where the company raised about Rs 1,457 crore (around $175 million) at a valuation of $2.37 billion. The funding was led by Ritesh Agarwal’s Singapore-based Patient Capital, along with J&A Partners and ASK Financial Holdings. In this funding round, OYO secured nearly Rs 1,040 crore, adding to the Rs 416.85 crore it had previously raised.

CheckMyGuest, founded in 2016 by Julien Madar, Joffrey Ichbia, and Kevin Cohen, offers a range of vacation rentals, from homestays to upscale apartments. Along with CheckMyGuest, the acquisition includes HMG (formerly HelpMyGuest), a housing renovation business, and Studio Prestige, a company managing luxury rental apartments. 

Joffrey Ichbia announced the merger on LinkedIn, expressing excitement about joining forces with one of the world’s largest hotel groups. He highlighted this merger's significant opportunities for growth, new markets, and career development.