Oyo Living

Firms are waiving the rent of those who have lost their jobs during the pandemic

OYO CEO for India Rohit Kapoor communicated the decision through an email to employees after a company townhall on Wednesday

The company's entire executive leadership team has taken a voluntary pay cut starting at 25 per cent and going up to 50 per cent

The firm is internally assessing the possibility of partnering with aggregators or entering the market on its own

Hospitality firm OYO on Tuesday said its corporate channel has witnessed an 80 per cent increase in revenue on a year-on-year basis on account of strong growth trajectory in corporate bookings. The company currently has a total of over 8,400 active corporate accounts, OYO said in a statement. The company's corporate channel contributes over 30 per cent to the total revenues of OYO, it added. The revenue of corporate channel for the calendar year 2019 stood at Rs 459 crore, OYO said. "The corporate travel segment is a key engine of growth for us and we are seeing strong demand for our standardised and affordable offerings from business travellers across India," OYO Hotels & Homes India & South Asia COO Gaurav Ajmera said. The company welcomed over 4,000 new corporations in 2019 and their trust in the brand is a testament to the value OYO is creating for its corporate customers, he added. "As part of our continuous efforts to strengthen the corporate portfolio, we are working to

Going by the recent trends, the co-living business may offer a higher rental yield, as much as 8-11 per cent said analysts

The firm is said to be firing 2,400 employees, or 20 per cent of its workforce in India, mainly in sales and business development

In 2019, Oyo saw some interesting travel trends through its properties

OYO Hotels & Homes on Friday said it has appointed Ankit Gupta as chief operating officer and senior vice president for its coliving, rental homes and self-operated hotel businesses in Indian and South Asia. Gupta has been appointed as COO & SVP - Frontier Businesses, OYO India & South Asia. Frontier businesses comprise OYO's self operated hotels (OYO Townhouse, Collection O, SilverKey), student housing and co-living and OYO Home businesses, the company said in a statement. Ankit Gupta, an alumnus of IIT Bombay, joined OYO India & South Asia from McKinsey & Co where, as a tenured Partner, he was the global leader of their real estate transformation practice. OYO has a portfolio of more than 44,000 hotels with over 1.2 million rooms. Through its vacation homes business, the company offers travellers and city dwellers access to over 1,25,000 homes around the world under OYO Home, Belvilla, Danland, Dancenter and Germany-based Traum-Ferienwohnungen brands. It ...

Over the last three months or so, the company has been grappling with a series of protests by hotel owners, who have been alleging that the hospitality giant has not paid their dues

Hooters is an American brand of restaurant with casino floors full spectrum of gaming choices and guest rooms and suites

OYO is changing tack and shedding its 'affordable' image for its chain of premium coffee shops so that it can take on coffee chain giant Starbucks

The Gurgaon-based Unicorn recently marked its entry in the fast-growing co-living space