OYO rebounds to reported $9bn valuation
India: Hospitality chain OYO Hotels & Homes has seen its valuation reportedly rebound to over $9 billion, following a US$7.4 million [540 million Indian rupees] Series F1 funding round earlier this year. The funding round was completed in January and was led by Hindustan Media Venture. OYO said it would use the funding to […]
OYO appoints new independent board member
India: Hospitality chain OYO Hotels and Homes has appointed a new independent member of its board of directors. Troy Alstead, former COO of Starbucks and current board member of Topgolf, Harley-Davidson and Levi Strauss and Co, will join in a supervisory manner, providing advice and guidance to the founder. Alstead began working for Starbucks in […]
OYO founder Agarwal to forego 100 per cent of annual salary
India: Ritesh Agarwal, founder and group CEO of OYO Hotels & Homes, has announced that he is foregoing 100 per cent of his salary for the rest of the year as the company seeks to unite in the face of the impact of Covid-19 on the global travel and hospitality industry. Furthermore, OYO’s entire executive […]
OYO appoints Kamal as COO of rental business in Europe
Europe: OYO Hotels & Homes has appointed Raj Kamal as chief operating officer of OYO’s Vacation Homes business in the UK and Europe. The appointment represents a continuation of OYO’s policy to continue investing in and attracting world-class leadership to the firm, in order to drive innovation and growth. OYO Vacation Homes, which comprises brands […]
OYO Hotels & Homes adds to senior leadership team
India: Global hotel and vacation rental chain, OYO Hotels & Homes, has made a number of significant appointments and additions to its leadership team. Current CEO for the hotels and homes business in India and South Asia, Aditya Ghosh, has joined the company’s board of directors, where he will work alongside OYO Hotels & Homes […]
OYO Hotels & Homes to raise $1.5bn for global expansion
India: As part of plans to expand into the U.S. and European markets, lodging startup OYO Hotels & Homes is raising $1.5 billion in a Series F funding round through founder and CEO, Ritesh Agarwal, Softbank Group and other investors. Agarwal, through RA Hospitality Holdings, is set to inject $700 million into buying new shares […]
OYO Hotels & Homes completes Danamica acquisition
Denmark: Oyo Hotels & Homes has announced it has completed the acquisition of Copenhagen-based data science company Danamica for an undisclosed amount. The news follows a matter of weeks on from OYO’s announcement in August that it was planning to inject around €300 million into its vacation rentals business. That indicated a renewed drive by […]
OYO Hotels & Homes debuts complimentary insurance cover
India: OYO Hotels & Homes has announced a first-of-its-kind offering for its customers with complimentary insurance cover for guests as part of the booking price for staying in OYO properties in India. The brand, which is India’s largest and the world’s third largest and fastest-growing chain of leased and franchised hotels, homes, living and workspaces, […]
OYO Hotels & Homes announces $2bn investment round
India: Cayman Islands-based RA Hospitality Holdings has announced the signing of a $2 billion primary and secondary management investment round with OYO Hotels & Homes. The round was confirmed by OYO Hotels & Homes founder and CEO, Ritesh Agarwal and is being supported by global institutional banks and Agarwal’s financial partners, subject to regulatory and […]
OYO acquires Amsterdam-based @Leisure Group
New Delhi / Amsterdam / London: OYO Hotels & Homes has agreed to purchase Amsterdam-based vacation rental company @Leisure Group. @Leisure manages holiday homes, holiday parks and holiday apartments, and OYO has acquired the firm from media and technology company, Axel Springer. @Leisure Group, through its Belvilla, DanCenter, and Danland brands, offers more than 30,000 […]