Page 10 - Oyo

Has IPO-bound travel tech major OYO regained trust of its hotel partners?

As OYO prepares for its public listing, the continued satisfaction of its hotel partners and winning back dissatisfied partners will play a key role in determining how its business performs.

Over 1 mn people made bookings with OYO for New Year celebrations: CEO

Over 10 lakh people booked for more than 5 lakh nights with hospitality chain OYO for New Year 2022 celebrations, generating bookings worth around Rs 110 crore over the weekend on its global platform, according to company Founder & Group CEO Ritesh Agarwal. In a social media post, he said 58 per cent bookings for the New Year's eve were made on the same day keeping the trend witnessed since December 2017 that reflected the "impulsive emotion and decision" related with travel. "Thank you to over a million people who booked more than half a million nights with us this New Years. For all of us at OYO, it was a busy NY (new year)," he wrote in his post on LinkedIn. He further said, "2021 booking was (the) highest among 90 pandemic weekends since April 2020 with total customer bookings globally on our platform worth (around) Rs 110 crore (USD 14.6 million) over the weekend." Agarwal said rooms booked on NY weekend of December 30-31 in 2021 stood at 5.03 lakh as compared to 1.02 lakh ...

Over 500 employees, ex-staff of IPO-bound OYO buy around 30 mn shares

OYO had offered deeply discounted ESOPs to both current and former employees when the impact of COVID-19 led to pay cuts and furloughs

Top headlines: Future moves HC against Amazon; over 4k Covid cases in Delhi

Business Standard brings you the top headlines on Monday

Indian travellers indulged in 'workcation' mode this year: OYO report

Hill stations ranked top on the list of spots for these work and travel trips, followed by many who visited their hometowns and beach destinations.

OYO announces hiring 2 senior leaders for engineering and data science

Nirdosh Chouhan appointed Senior Vice President of Engineering; Kranthi Adusumilli will be the company's Senior Principal Data Scientist

I believe in India's future, will support with investments: Masayoshi Son

His firm SoftBank is the biggest foreign investor in India today and has funded 10% of all unicorns

OYO appoints former SBI chairman Rajnish Kumar strategic group advisor

Kumar, who retired as SBI chairman in October 2020, is currently on the boards of HSBC Asia Pacific, L&T infotech, Hero Motocorp and BharatPe

Skies darken for IPOs planned by Mobikwik, OYO after Paytm's dismal debut

It will take three to four months for people to forget Paytm and that it destroyed wealth, says a founder of a brokerage house in Mumbai

How OYO's pivot to revenue share helped it survive the Covid-19 pandemic

In spite of suffering setbacks in some markets like China and Japan, OYO has been successful in growing its business to more than 157,000 hotels and homestays

Oyo denies all charges by Zostel about failed buyout deal in letter

Says both parties mutually agreed to terminate the deal

OYO appoints Paralympian Deepa Malik as independent director

Malik was a silver-medalist at the 2016 Paralympic Games

IPOs: From Paytm to Oyo, complaints are holding up key clearances

Will delays in approval to Paytm, Oyo IPOs slam the brakes on India's record run? What are the issues? And what's the standard time taken for an IPO clearance? Let us take a look in this report

Zostel asks Sebi to reject and suspend Oyo's $1.2-billion IPO

The move can potentially lengthen Sebi's clearance process

Four reasons why global brokerage Bernstein is bullish on IPO-bound Oyo

In the note Bernstein highlights structural drivers for the company

Zostel seeking an injunction to restrain OYO, hearing tomorrow

In 2015, Oyo Hotels & Homes signed for Oyo's acquisition of Zostel. The deal fell through, but Zostel is arguing that it still deserves about 7 per cent in Oyo parent

OYO founder Ritesh Agarwal's salary rose eight fold in FY21: DRHP

He earned Rs 1.62 crore that year, against Rs 21.5 lakh in the previous financial year

Oyo files DRHP for $1.2 bn IPO; founder, key investors not diluting stake

In the DRHP, the firm says its app has been downloaded 100 million times and its major focus geographies are India, Malaysia, Indonesia and Europe

Zostel vs Oyo: Delhi High Court to hear case on October 7

Zostel is a backpacker hostels chain which has been embroiled in a legal battle with OYO for the last three years after merger talks broke down

Oyo to file for $1.2 bn IPO next week, sees recovery after pandemic: report

Startup has endured months of layoffs, cost-cuts and losses during the coronavirus outbreak.