Wyndhamstepsupinvestmentinsharingeconomy

Wyndham Worldwide has increased its presence in the sharing economy with two new investments.

The company’s Danish arm Novasol has signed a deal to buy German company Wimdu. The acquisition is a surprising one given that Wimdu was only recently merged with rival 9flats.

The transaction remains subject to the approval of the German Federal Cartel Office, which is likely to take a number of weeks.

Meanwhile, in the UK, Wyndham has made an undisclosed investment in upmarket vacation rental firm Veeve.

Unique Ventures, which trades as Veeve, was founded in 2011 and manages around 1,000 homes across London. It operates a similar type of business to Accor-owned Onefinestay.