Workspaces have transformed in three years: Innov8 founder Ritesh Malik

'We will differentiate on location, design and community', says Malik

Oyo recently acquired Innov8. Since their core business is also driven by real estate, what are the possible synergies?

The similarities are in location dependency —whether it is co-working or hotel, both thrive on location. The second is utilisation of captital expenditure. Despite sales being a goal common to both, the differences between the two businesses also lie there. Oyo has to sell on a per-night basis while our contracts are even three-year-long. Most of our contracts are long-term when we deal with enterprises, at least 12-months-long but we do have flexibility. For us enterprises and MSMEs are the core value