Hospitality Firm News
The fresh fundraising by the hospitality start-up came at a time when it is slowly recovering from the impact of coronavirus pandemic.
Oyo announces ESOPs of Rs 130 cr for all furloughed employees impacted by COVID-19; forms exigency fund for staff
On 8 April, Oyo founder and Group CEO Ritesh Agarwal had said in a letter and video message that the company will place a certain number of employees on furloughs or temporary leaves, globally.
Oyo founder Ritesh Agarwal in talks to buy back $1.5 bn shares, to approach banks for funds; move aims at hiking stake to 30%
With second-tier cities at its core, Oyo Hotels' chain extended deep into China's tier-2 to tier-6 cities, the company said in a statement.
Amid global expansion, Oyo denies media reports on lay off at Chinese subsidiary; says recruited over 1,500 people
On Tuesday, Oyo said it crossed 5 lakh rooms inventory in China, and planned to invest $100 million in that country in the next two years as part of the ongoing expansion.
The company is helping empower multiple ancillary industries in the hospitality ecosystem by leveraging scale to make bulk procurement that supports local businesses, Oyo said in a statement.
Oyo to expand 'SilverKey' hotels to 19 cities in 2019; eyes corporate travel sector to spur growth this year
With the commitment to expand SilverKey footprint to 19 cities, Oyo is decisively betting big on corporate travel.
Oyo expands international footprint with Saudi Arabia foray; firm plans to create 5,000 jobs for local citizens by 2020
Oyo Hotels in Saudi Arabia will employ over 300 local citizens by end of 2019, and generate employment for over 5,000 Saudi citizens by 2020, the statement said.
Oyo all set to make US foray; plans to launch affordable living solutions for young people, middle-income groups
At present, Oyo has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 rooms every month, globally.
Partnering with Oyo significantly improves the quality of the standalone hotel and improves occupancy from 25 percent to 65 percent on an average, Oyo said.
OYO launches home management service in Dubai, plans to ramp up footprint to 200 homes in six months
Starting with 40 homes in the Dubai, the hospitality chain plans to ramp up the footprint to 200 homes in next six months, OYO said in a statement.
OYO expands global presence with Sri Lanka foray; hospitality firm to strengthen presence in South Asian mkt
Currently, OYO has presence in seven countries including India, China, Indonesia, Malaysia, Nepal, the UK and the UAE.
OYO raises $100 million from Singapore-based Grab's arm A1 Holding; eyes expansion in Southeast Asia
In October this year, OYO said it had forayed into Indonesia and also confirmed an investment of over $100 million in the country as part of its expansion in Southeast Asia.