Page 4 - Oyo Rooms

Goa, Jaipur set to become India's top leisure destinations: OYO data

OYO released the findings of its Unlocking Travel Report 2021 on the occasion of World Tourism Day

Hospitality major OYO increases its ESOP pool by 41%

Hospitality major OYO has expanded its Employee Stock Option Plan (ESOP) pool by 41 per cent with the addition of another 20 crore shares

IPO-bound OYO increases authorised share capital to Rs 901 crore

The development comes ahead of proposed initial public offering by OYO, for which a draft red herring prospectus is likely to be filed in the next few months

An $8.8 bn IPO wave sweeps across India as investors bet on startups

The catalyst, in a word, is Zomato Ltd. The food-delivery startup went public in July

OYO to hire over 300 tech professionals to expand tech, product teams

Hospitality firm OYO on Thursday said it is looking to hire over 300 technology professionals across entry-level to senior leadership roles during the next six months. The company seeks to hire full-stack teams with key skill sets and expertise in the areas of Machine Learning, Data Engineering & Information Security, Android and iOS developers, OYO said in a statement. The company is set to introduce several innovations and is committed to investing in technology, further optimising revenues for hotel owners, while improving user experience for customers, it added. The hiring will play a critical role in accelerating OYO's transformation to a global full-stack technology provider for small and mid-sized hotels and homes, the statement said. The company has already begun onboarding over 50 mid-level tech talent and around 150 campus recruits from top universities across India, it added. "We've been blessed to have a diverse pool of tech talent and believe that each new bright mind

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor

Three-pronged revamp strategy includes getting out of investing in capex of hotels, moving away from offering minimum guarantees to hotel partners and giving them flexibility to determine room tariff

OYO to cover Covid-19 vaccination cost for employees, family in India

Hospitality firm OYO on Thursday said it will cover COVID-19 vaccination cost for all its employees and their family members in India. The employees and their family members in India can choose to get the vaccination done at any centre, convenient to them and the costs would be reimbursed in full by the company, OYO said in a statement. The company has also enhanced the insurance benefit of employees to include a COVID-19 home care cover, it added. The company, however, did not provide any details about the number of employees it has in India. "As part of our commitment to keep our employees and their families safe and show our gratitude to them, we are happy to facilitate the cost of their COVID-19 vaccinations,"OYO Hotels & Homes Chief Human Resources Officer Dinesh Ramamurthi said. The company encourages employees to take the vaccine after reading up about its benefits and making an informed decision, he added.

Oyo's India business Ebitda-positive: Founder & Group CEO Ritesh Agarwal

India business is EBITDA positive. It has achieved EBITDA break-even from December 2020 and is growing month-on-month

Arbitrator provides no relief to ZO Rooms in ownership dispute: OYO parent

The firm has said it will 'vehemently oppose' any move to make it execute the definitive agreement for its disputed acquisition of Zostel Hospitality

Data sciences, tech must be given due importance in every industry: Oyo CEO

Technology and data sciences need to be given due importance as they bring change in every ecosystem they are part of, OYO Hotels and Homes Founder and Group CEO Ritesh Agarwal said on Monday.

OYO to make further investments in Europe: CEO Ritesh Agarwal

Agarwal was speaking at the India Symposium 2020, organised by the Institute of Chartered Accountants of India (ICAI) Netherlands Chapter and India Dutch Financial Corridor (IDFC)

OYO hands out pink slips to 300 workers from renovation, operations dept

This is in line with the company's efforts to drive technology-enabled synergies and realign of some business functions to other verticals, leading to some redundancies across a few functions

Our focus is to make an IPO-ready company, says OYO chief Ritesh Agarwal

'We'll look at various things like the market situation, opportunities outside, and so on, and the board will consider and then potentially advise on the timeline,' Agarwal said

Softbank partners Oyo in Latam; to control 1,000 hotels in Brazil, Mexico

The move comes as Oyo, valued at $10 billion in its most recent fundraising round, has been forced to cut costs and rein in its expansionist strategy in global markets

OYO India offers voluntary separation or leave extension to employees

Post-unlock, the company started tracking to 30 per cent of pre-Covid-19 occupancy levels, OYO India said in a statement

OYO hotel rooms for paid isolation of Covid-19 patients in Bhubaneswar

Amid a spurt in COVID-19 cases, the Bhubaneswar Municipal Corporation (BMC) has identified several OYO hotel rooms for paid isolation of asymptomatic patients.

Softbank dispatches senior executives to help Covid-19 hit Oyo: Report

Oyo has struggled in Japan even with the full endorsement of SoftBank

OYO restoring full salaries in India, South Asia in phased manner

The spokesperson said 12.5 per cent of the total 25 per cent salary cut will be restored from October and the remaining 12.5 per cent from December 2020

Oyo Hotels is slashing footprint and headcount in virus-hit Japan

The Indian start-up slashed its regional presence by closing offices in provincial centers Sapporo, Sendai, Nagano, Hiroshima and Omiya at the end of June, Chief Business Officer Ryota Tanozaki said.

OYO announces ESOPs for furloughed employees impacted by Covid-19 pandemic

On April 8, 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