Page 16 - Oyo

OYO plans to invest $300 million over the next few years in US

Started in 2013, OYO Hotels and Homes has more than 23,000 hotels and 46,000 vacation homes in its portfolio

OYO's hospitality paid loyalty programme touches 1.5 million subscribers

OYO Wizard, the company's reward programme for frequent customers, comes with benefits such as guaranteed discounts, cashback, discount coupons and upgrades

OYO is using proprietary tech to trump competition in hospitality space

With the help of AI and machine learning, it looks at multiple metrics to do with customer behaviour such as location, weather and so on, to learn more about customer preference

OYO to acquire Amsterdam's vacation rental firm Leisure Group for $ 415-mn

Hospitality firm OYO has agreed to acquire Amsterdam-based vacation rental company Leisure Group from Axel Springer for an estimated USD 415 million (over Rs 2,885 crore). The acquisition will help OYO move a step closer in realising its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry, OYO said in a statement. According to sources in know of the matter, the acquisition cost is USD 415 million (around Rs 2,885 crore). Leisure Group is a leading vacation rental company in Europe and manages holiday homes, holiday parks and holiday apartments, it added. As part of the deal, Leisure Group CEO Tobias Wann will join OYO's leadership group as CEO, Vacation Homes, OYO Global, the statement said. Commenting on the development, OYO founder & Group CEO Ritesh Agarwal said, "We see vacation homes as a unique opportunity with 115,000 units of homes now getting added to our already growing count of beautiful homes and we are excited to ...

Airbnb expands India operations, checks into OYO with $200-mn investment

For Airbnb, the tie-up with OYO means a partial change in the business model, specifically for India

Airbnb participates in Softbank-backed OYO's series E funding round

US-based Airbnb will look at ways to make the OYO accommodation available on its platform

OYO to invest Rs 1,400 crore in Indian markets to boost infrastructure

Oyo also announced the launch of a new brand - Collection O hotels - to its existing portfolio of budget- to mid-segment hotel chain brands

OYO to invest Rs 1,400 cr in India and Nepal markets in 2019 to boost infra

The company also announced the launch of a new brand, Collection O hotels, to its existing portfolio of the budget- to mid-segment hotel chain brands

OYO eyes UP Tourism's loss-making properties as it expands hotel chain

Only 15 of 100 hotels and rest houses run by state tourism are profit-making; efforts to turn around loss making ones by leasing them out to private partners have been failed so far

OYO forms JV with Yahoo to foray into housing rental market in Japan

The firm has planned major expansion in Southeast Asia and China and is planning to invest more than $100 million in Indonesia

OYO net loss marginally widens to Rs 360 crore in FY18; revenue rises

OYO reported an operating revenue of Rs 416 crore for the fiscal year 2018, compared to Rs 120 crore reported for 2016-17 financial year

OYO forays into 7th foreign market with $50-million play in Philippines

From 21 hotels and 500 rooms currently, OYO aims to grow to 20,000 rooms in 10 cities by 2020 in Philippines

OYO now plans big play in Indonesia, lines up $100-million investment

Within 3 months of its foray into Indonesia, the company has launched the first phase of expansion in 16 cities and has already witnessed a 5x growth

OYO to add up to 500 Townhouse hotels from current 68 across India in 2019

OYO has presence in over 500 cities across India, China, Malaysia, Nepal, the UK, the UAE and Indonesia

OYO in talks to acquire nearest rival Treebo Hotels in budget hotel sector

Headquartered in Bengaluru, Treebo operates about 10,000 rooms across 400 properties in the country

OYO enters Sri Lanka, expands presence in South Asian market

The move comes barely few weeks post the announcement of appointment of Aditya Ghosh as OYO's CEO for India and South Asia

Ritesh Agarwal aims to make Oyo the world's largest hotel chain by 2023

Oyo, which began with one hotel in Gurgaon in 2013, has grown to over 330,000 rooms in 500 cities globally

Singapore's cab-hailing firm Grab, in talks to invest Rs 100 million in Oyo

Grab is expected to close the deal in the next few days

Oyo to double hotel count in Odisha 2019 end, aims to create 6,000 jobs

Currently, Oyo Hotels has a strong presence in Odisha, especially in cities, including Bhubaneswar, Puri, Cuttack, Rourkela and Jharsugda

OYO to invest $1.2 bn for expansion, bulk of spending to be in India, China

OYO says it is adding 60,000 rooms every month to its network