Denmark / Faroe Islands: Danish vacation home management company DanCenter is investing €120,000 in Faroese operator Vert [formerly known as Ognartænastan] to support its expansion efforts.
Over the next year, Vert is aiming to double its footprint by adding 200 holiday homes to its portfolio.
The development comes shortly after the announcement that DanCenter would invest DKK 350 million [approximately €47 million] in Denmark over the next five years, after being encouraged by the resurgence in vacation-led travel.
DanCenter’s parent company is OYO Vacation Homes, which operates full-service providers such as Belvilla and DanCenter and online marketplace Traum-Ferienwohnungen.
Founded in 2018 by Tróndur Kollsker, Vert operates in the Faroe Islands, nestled in the North Atlantic Ocean and positioned strategically between Norway and Iceland. As such, it presents unique opportunities for economic development and international cooperation, according to the two companies.
As tourism plays a pivotal role in the economy of the Faroe Islands, contributing significantly to GDP growth and employment, the collaboration between DanCenter and Vert will not only aim to strengthen the tourism infrastructure but also position the Faroe Islands as a premier destination for travellers seeking unique experiences.
India’s Honourable Ambassador to Denmark, Pooja Kapur, said: “The collaboration between OYO’s DanCenter and Vert marks a significant milestone for the tourism economy of Faroe Islands. Supporting Vert’s expansion efforts in the region underscores a shared commitment to sustainable growth and innovation, driven by cutting-edge technology and industry expertise by DanCenter.
“This collaboration opens avenues for cross-border business exchanges, facilitating knowledge transfer and cultural exchange between the two countries. This not only fuels the growth of the tourism sector in the Faroe Islands but also fosters deeper economic integration and cooperation between Denmark and India,” added Kapur.
Gautam Swaroop, CEO of OYO Vacation Homes – the parent entity of DanCenter, said: “Under the guidance of H E Pooja Kapur, Ambassador of India to Kingdom of Denmark led a delegation of Indian companies with selected leaders to the scenic Faroe Islands. This occasion served as a platform for us to engage with counterparts from the Faroese business community.
“Our interactions revealed the vast untapped potential for business within the islands. This has now led to OYO’s DanCenter’s collaboration with Vert in the region.
“We extend our sincere appreciation and gratitude to Hon’ble Ambassador for her leadership and gracious invitation and for introducing OYO to the Faroe Islands and opening up new avenues for growth and cooperation. Her efforts to form synergies for Indian businesses across Denmark is both commendable and deeply valued.
“We are happy to play a part in fostering innovation powered by technology within the region’s tourism sector,” added Swaroop.
Tróndur Kollsker, founder of Vert, said: “As Vert embarks on its journey of expansion and innovation, the partnership with DanCenter will signify a new chapter in the evolution of Faroese tourism. Together, DanCenter and Vert are poised to redefine the vacation rental landscape, offering travellers unforgettable experiences while driving sustainable growth in the region.”
Today, DanCenter operates over 12,000 vacation homes in Denmark, Sweden, Norway and Germany. Denmark has the highest number of DanCenter vacation homes followed by Sweden, Norway and Germany.
