Indian budget hotel booking startup Oyo will invest 300 million euros ($335 million) in its vacation home rental business, it said Wednesday, as it looks to expand its footprint in Europe and possibly closely compete with global giant Airbnb, one of its investors.

The Gurgaon-based startup, which acquired Amsterdam-based holiday rental company Leisure in May this year and rebranded it to Oyo Vacation Homes, said it aims to turn Oyo Vacation Homes into the destination for “top-notch” holiday experience and the partner of choice for homeowners.

The new capital will go into “strengthening the relationship with homeowners and enabling them with the resources required to deliver chic hospitality experiences,” and building the largest vacation rental management service business in Europe, managed under OYO Home, Belvilla,

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