Page 15 - Oyo

OYO raises $10 mn from hospitality major China Lodging Group

Hospitality firm OYO today said that China Lodging Group has signed an agreement to invest USD 10 million (over Rs 63 crore) as equity in the company. OYO had recently raised USD 250 million in a funding round led by Softbank Vision Fund. As per the Memorandum of Understanding (MoU), partnership will combine the technology strengths and operational expertise of OYO with China Lodging Group's extensive coverage and strong development capability in China, OYO said in a statement. Commenting on the pact, OYO Founder & CEO Ritesh Agarwal said: "We are very excited about this partnership - both in terms of potential opportunities and existing synergies through our complementary strengths and capabilities". "The MoU signifies the shared aspirations of China Lodging Group and OYO to explore growing opportunities in the global hospitality industry and to create synergies by working together", China Lodging Group CEO Jenny Zhang said. Under the terms of the pact, .

OYO raises $250 mn in fresh round of funding led by SoftBank

The firm plans to use the funds to expand its presence in India and Southeast Asia

OYO expands international presence with hotel launch in Nepal

The company had earlier ventured in to Malaysia in January 2016

Big leisure push on Oyo agenda, co bets on millennials, home stays too

Accomodation aggregator Oyo is planning to increase its presence in leisure cities and would be doubling the number of rooms it offers in its network to 1,40,000 by the end of this year, to become the 14th largest hotel in the world. Speaking to reporters in Chennai, Ritesh Agarwal, founder and CEO of Oyo said that the company at present has over 70 per cent of its business from business segment while the rest is from leisure business. It is looking at changing this to around 60 and 40 respectively in next few months and later to a ratio of 50:50, he said.The prices of the leisure rooms, while would be 15-20 per cent higher compared to business rooms, it would be 20-30 per cent lower compared to the nearest three star hotels, he added. The business segment would also grow during the period. It has also launched Oyo Townhouses, a neighbourhood hotel chain targeting the millenials, which would be scaled up from five at present to around 250 by end of this year.At present, the company ...

OYO hires Anil Goel as Chief Technology Officer

Goel joins the Leadership team at OYO and will help in providing technological assistance to the Company's overall business operations

OYO introduces 'Sunrise check-in from 6 AM'

In addition, guests can also modify their existing booking and secure an early check-in

Hotel startups move away from aggregation model

Decision by prominent agents such as MakeMyTrip and Yatra to delist OYO was a major disincentive for aggregators

OYO partners with PayZapp to aid frictionless payment

OYO, now present over 180 cities, has more than 6000 hotels in its network and also has operations in Malaysia

Oyo platform for business travellers

Called "Oyo for Business", it offers rooms to cater to the needs of corporate travellers