OYO buys French PM Checkmyguest

Softbank-backed Indian hospitality chain OYO has acquired Paris-based short-/mid-term rental property management company Checkmyguest, according to French publication Les Echos.

The amount of the transaction, which is due to be finalised in the second half of the year, has not been disclosed. However, the report suggests that OYO could value Checkmyguest at around €100 million.

It is believed that the deal will also include the purchase of housing renovation business HMG [formerly Helpmyguest] and luxury rental apartment management company Studio Prestige.

Checkmyguest co-founders Joffrey Ichbia, Julien Madar and Kevin Cohen are quoted as calling the transaction “an extraordinary opportunity for us”.