Oyo Hotels & Homes to invest in machine learning intelligence technology
Through the acquisition the company is aiming to drive “top-line growth by leveraging dynamic pricing across all its brands”
India’s Oyo Hotels & Homes has acquired Danamica, a Copenhagen-based data science company, with machine learning and business intelligence capabilities, specialising in dynamic pricing.
With this acquisition Oyo is aiming to drive “top-line growth by leveraging dynamic pricing across all its brands”.
Commenting on the development, Maninder Gulati, global head, oyo vacation and urban homes, & chief strategy officer, Oyo Hotels & Homes, said, “Danamica, a Europe based, machine learning and business intelligence company specialised in dynamic pricing will help us be more accurate with pricing, leading to higher efficiencies and yield for our real estate owners and value for money for our millions of global guests, both everyday travellers and city dwellers, that choose an Oyo Vacation Homes as their abode.”
Last month, the company said it would invest €300 million in the vacation homes business in Europe.
The company also signed a partnership valued at Dh18 billion (US$5 billion) with UAE-based IBC Group’s Gallery Suites Vacation Rentals to manage 10,000 premier holiday homes in Dubai.