Belvilla by Oyo, the vacation home management company owned by Oyo, has acquired the Australian short-term rental platform MadeComfy through a cash-and-stock agreement, following a unanimous (100%) approval at the Extraordinary General Meeting (EGM) of Oyo’s parent company, Oravel Stays.
As part of the agreement, the company will issue shares valued at $1.9 million (₹16 crore) upfront, priced at $0.67 (₹57.09) per share—placing Belvilla’s parent company, Oyo, at an approximate valuation of $5 billion (₹42,500 crore). Additionally, deferred shares worth $9.6 million (₹81 crore) will be issued after two years. The deal also includes a cash payment, the details of which have not been publicly disclosed.
Founded in 2015 by Sabrina Bethunin and Quirin Schwaighofer, MadeComfy manages more than 1,200 properties across Australia, with operations in major cities such as Sydney, Melbourne, Brisbane, Perth, and Adelaide. The company also operates in New Zealand, managing properties in Auckland, Wellington, and Hamilton.
MadeComfy generated revenues of $9.6 million (₹81 crore) in 2024 and functions as a short-term rental property management service, working closely with property investors to maximize their rental income.
In 2019, Oyo acquired the @Leisure Group, which included the Belvilla brand, to grow its vacation home rental business in Europe.
Belvilla’s portfolio boasts 50,000 holiday homes across 20 European countries, including the Netherlands, Belgium, Germany, France, Italy, and Spain. The platform offers full-service vacation home rental and management, helping homeowners increase demand and boost revenue through Online Travel Agents (OTAs) as well as its own website and app.
In December 2024, Oyo acquired G6 Hospitality—the parent company of Motel 6 and Studio 6—from Blackstone Real Estate in an all-cash deal worth $525 million. This acquisition added around 1,500 franchised hotels across the US and Canada to Oyo’s portfolio.
In March, Oyo founder Ritesh Agarwal emailed the company’s senior leadership, stating that Oyo is on track to achieve over 60% year-on-year revenue growth in the fourth quarter of the financial year 2025, with revenues exceeding ₹2,100 crore.
“A key contributor to this performance has been the integration of G6 Hospitality, adding Rs 275 crore to our revenue,” stated Agarwal in his email. “Even without G6, our revenue stands strong at Rs 1886 crore, demonstrating robust organic growth of 42%,” he added.
Looking ahead, Agarwal projected that the company expects a profit after tax of ₹1,100 crore for the financial year 2026, along with an EBITDA of ₹2,000 crore. He credited this anticipated success to strong performance in core markets like India and the US, complemented by significant contributions from emerging markets in Southeast Asia and the Middle East.
