Page 12 - Oyo

Top headlines: PLI for solar, white goods; Oyo denies seeking bankruptcy

Business Standard brings you top news of the evening

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

Oyo's Singapore subsidiary secures $200 million term loan from SoftBank

Hospitality major OYO Hotels & Homes' Singaporean subsidiary has received a term loan from SoftBank.

Unicorns have created $106-bn value for startup ecosystem in 10 yrs: Report

Having created over 1.4 million jobs annually, Indian startups have taken eight years on an average to hit the unicorn milestone

Flipkart to Oyo, top 4 unicorns account for half of combined valuation

Indian unicorns notch up valuation of $128.9 bn in 2020; several looking at IPOs

India most booked destination globally in 2020, Delhi on top: Oyo report

Gandhi Jayanti and Christmas weekends were the country's favourite holidays to travel in 2020. In December, over 1.7 million people have checked in over the weekends so far

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.

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

Oyo recovering from Covid, has $1 bn to fund operations until IPO: CEO

Agarwal said the company's focus is on getting revenue per available room to 60 per cent to 80 per cent of pre-pandemic levels across all markets

Travellers ready to step out; uptick in bookings for destinations: OYO

As India gradually unlocks, more and more people are now ready to step out to explore domestic destinations, and as per OYO's Diwali booking trends, Jaipur, Kerala, Goa, Visakhapatnam and Varanasi are among the top tourist spots. According to data from global hospitality chain OYO Hotels & Homes, after staying homebound for months, leisure travel is on the rise this Diwali, and Indians are preferring inter-state road trips and beach destinations. According to OYO's booking trends, Jaipur, Kerala, Goa, Visakhapatnam and Varanasi top the charts as the most popular leisure destinations among travellers. The data further highlights Jaipur to be the most popular choice among travellers across north India, with an influx of tourists from nearby cities like Delhi-NCR and Lucknow. Across south India, travellers from Chennai and Bengaluru are heading out on road trips to Kochi in Kerala. Goa, the country's beach capital, is attracting travellers from across the country, it said. Majority

Geopolitical impact to emerge as big risk for firms: OYO's Ritesh Agarwal

The Covid-19 pandemic has wreaked havoc on businesses, especially in the area of transportation and travel and hospitality

SoftBank partners with Oyo in Latin America in move for more oversight

It shows SoftBank's keenness to ensure Oyo remains on track, and is the latest sign SoftBank is more closely overseeing Oyo's operations including in offshore 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

9Unicorns makes first close of Rs 100 cr for its new fund for start-ups

The fund intends to offer $100,000 for 5-7% equity per start-up

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

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

SoftBank-backed Oyo merging Japan operations and appointing new CEO

The reorganisation involves Oyo's hotel-booking and apartment-rental units coming together into a single company called Oyo Japan, to be led by Ryoma Yamamoto as CEO

Covid-19 impact: Oyo adopts 'hybrid workplace model' for Indian employees

The hybrid model allows more flexibility to workers, which in return has resulted in a noticeable improvement in overall productivity, the company said

Covid-19 impact: Oyo sends letter granting ESOPs to all employees

The move comes as Oyo decided to lay off a large number of its employees in the US last week but reward them with stock options

Fresh troubles for SoftBank's Masayoshi Son as Wirecard drama unfolds

Wirecard won't force SoftBank to write down any assets - because the tech conglomerate never put money into Wirecard itself.