Page 6 - Oyo Rooms

OYO strengthens leadership table for India, SA and UK-Europe businesses

The company announced the appointment of Raj Kamal as COO for its Vacation Homes business in the UK and Europe

Indian start-ups raised a record $14.5 bn in 1185 funding rounds this year

The decade has seen an impressive 25x growth in terms of the total funding raised by the startups.

Indian startups raise a record $14.5 bn in 2019, 459 Series A rounds held

Masayoshi Son-led SoftBank made massive investments in the Indian startups, biggest funding round

OYO appoints Ankit Gupta as COO, senior VP in India and South Asia

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 ...

Oyo says SoftBank's Yahoo Japan has exited Japan room rental venture

Oyo, which is also backed by SoftBank Group Corp, said it has bought back the shares in Japanese apartment rental company.

Rejig of Oyo brass: Aditya Ghosh joins board, Rohit Kapoor becomes CEO

Oyo has recently undergone large-scale corporate restructuring, setting up several subsidiaries and bifurcating operations globally

OYO elevates its India & South Asia CEO Aditya Ghosh to board of directors

Hospitality firm OYO on Monday said it has elevated Aditya Ghosh, currently chief executive officer (India & South Asia) for the hotels and homes business, as a member of its board of directors. Rohit Kapoor, currently CEO of the new real estate businesses of the company, has been appointed as CEO (India & South Asia) for OYO Hotels & Homes, it added. Ghosh will join OYO Hotels & Homes founder & Group CEO Ritesh Agarwal, Baja Corporation founder & CEO Betsy Atkins and other industry experts like Munish Varma, Bejul Somaia and Mohit Bhatnagar, among others, on the company's board, OYO Hotels & Homes said in a statement. In his role on the board, Ghosh will focus on five key areas namely, safety and security, customer experience, corporate governance, revenue management and stakeholder communications, the statement said. "Ghosh's strong business acumen, problem-solving capabilities, passion for building an organisation with strong corporate governance and a ..

OYO's valuation continues to soar despite losses; hovers near $10-bn mark

The losses have reportedly mounted due to the rise in operating expenses fuelled by the company's aggressive expansion in overseas markets

Softbank-backed Oyo's losses rise six-fold to $332 mn; revenue quadruples

The growing losses at Oyo come as its major investor SoftBank struggles to raise funding for a second investment fund in the wake of the failed listing of office-rental company WeWork

Oyo's loyalty programme Wizard gets 5 mn users, drives 49% of business

With 9200+ hotels under OYO's portfolio currently partnered with this program, OYO Wizard is increasingly becoming a preferred option of booking quality and affordable accommodation on OYO.

Cheating case against Oyo's Ritesh Agarwal, six others over unpaid dues

A cheating case has been registered against OYO Hotels & Homes founder Ritesh Agarwal and six others based on a complaint by a hotelier who has alleged that the firm did not pay rent for rooms for the past five months, police said on Monday. In his complaint, Betz Fernandez, who owns Roxel Inn at Domlur here, stated that OYO had booked rooms and had agreed to pay Rs 7 lakh per month. However, since May OYO did not pay him any rent thereby duping him to the tune of Rs 35 lakh, he alleged. Besides Ritesh Agarwal, police have booked Rohit Srivastava, head of OYO South, heads of business development Madhvendra Kumar and Gourab De, OYO Finance Officers Prateek Agarwal, Manjeet Singh and Mrimony Chakraborty. They have been asked to appear before the investigating officer on Thursday, police said. The OYO Hotels & Homes said in a statement that they will file a counter complaint against the Bengaluru hotel owner for "using improper legal means to sensationalise a civil .

OYO to expand footprint in Bihar, create 700 new jobs in next six months

OYO's presence in Bihar includes 28 cities including Patna, Bodhgaya, Muzaffarpur, Purnea and Bhagalpur

Oyo raises $1.5 billion at $10 billion valuation; to focus on US market

A significant part of the Series-F funding will be diverted in boosting US footprint, and in strengthening position in the vacation rentals business in Europe

SoftBank CEO Masayoshi Son says 'embarrassed and flustered' by track record

Japanese investor Masayoshi Son reacts after his company comes under pressure from some investors for its bets on loss-making businesses.

Room for more: Oyo to raise another $1 bn as it adds stars to its hotels

The plan is to take up luxury properties in India and abroad

Oyo, Cure.fit continue to be LinkedIn's top two start-ups to work with

LinkedIn data shows that the 25 start-ups that featured on its list collectively created about 18,000 jobs in the past year

Working towards taking Oyo Hotels global, says founder Ritesh Agarwal

Given our efficient management and economies of scale, we are generally profitable at the unit level, which is unheard of at this early stage in the business, says Ritesh Agarwal

Oyo to rebrand Las Vegas-based Hooters, bring a 35,000 square-foot casino

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

Watch out, Starbucks: OYO is brewing plans to start premium coffee chain

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

Oyo to invest Rs 2,390 cr to boost presence in European vacation rental mkt

Amsterdam-headquartered Oyo Vacation Homes is part of Oyo Hotels and Homes