Tuesday, November 5

Tag: hotel aggregator

SoftBank Urges OYO to Seek New Investors For $500-700 Mn Funding Round
25May By Sheldan RungasamyNo Comments
FUNDING

SoftBank Urges OYO to Seek New Investors For $500-700 Mn Funding Round

Softbank, the Japanese conglomerate owned by Masayoshi Son, recently agreed to sell its stakes in Flipkart for $4 bn following an investment of $2.5 Bn in mid-2017 for its 20% stakes in the e-commerce company. However, the company is very well focused and determined to bet on other companies that will remain profitable and growing. Therefore urging Indian hospitality service, OYO to get new investors on board, following which the Japanese giant will participate in a funding round reported to be worth $500-700 Mn. A report from MoneyControl claimed that “many Chinese investors are interested in hospitality as a sector.” The report also stated that the valuation of OYO will be subject to appreciation from the new investors. However, a new funding round is most likely to mark the entry ...
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OYO is Expanding Operations in China and Indonesia
23May By Sheldan RungasamyNo Comments
BUSINESS

OYO is Expanding Operations in China and Indonesia

OYO, the leading hotel aggregator, has taken a huge step towards expansion, after opening hotels in China and Indonesia making it one of the few Indian consumer technology companies expanding businesses in the world’s second largest economy. The developments come only eight months after the Gurugram-headquartered company raised $10 million funds from China Lodging Group, one of the largest multi-brand hotel groups in the world. Seemingly, the deal provided much more than capital value as it provided a strategic partnership to OYO for its international expansion plans. Commenting on the investment, Founder and CEO of OYO, Ritesh Agarwal said, Addressing consumers in India and Chine – two of the world’s fastest-growing markets – through our combined strengths opens up a very large and...
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Oyo Launched Its Operation in Nepal, Target to Acquire 100 Properties in This Year
24May By AnkitaNo Comments
News

Oyo Launched Its Operation in Nepal, Target to Acquire 100 Properties in This Year

Budget hotel platform Oyo has forayed into Nepal with a target of on-boarding 100 properties by the end of this year. The room aggregator, which opened its first property here, is also looking to roll out its Townhouse brand in the Himalayan nation, which of late is witnessing a tourist influx after a back-breaking earthquake in 2015. According to official statistics, of the 174,803 tourists who visited Nepal in 2016, most were from India. The entry into Nepal comes on the heels of its foray in Malaysia. The plan is to set up 100 Oyo hotels in Nepal this year. While its basic model is meant for the value- and cost-conscious traveller, Townhouse caters to those who do not mind paying slightly more for a better service. "Our core premise is right pricing and right location wit...
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OYO Enters North-East, Offers 250 Rooms in Gangtok, Darjeeling
16May By AnkitaNo Comments
News

OYO Enters North-East, Offers 250 Rooms in Gangtok, Darjeeling

Online aggregator of branded hotels OYO Rooms has expanded its presence in the north-east by offering more than 250 standardised rooms in Gangtok and Darjeeling. "We have made significant investments to expand our presence in key tourist destinations in the north-east like Gangtok and Darjeeling. Our teams have worked very hard to deliver OYOs level of standardisation of guest experience in the hotels...," OYO Rooms Founder and CEO Ritesh Agarwal said in a statement. "The hospitality sector is still underdeveloped in the north-east and we are certain that the introduction of OYOs standardised affordable stays will attract more tourists," he added. The company now offers more than 250 standardised rooms at rates as low as Rs 999 per night in Gangtok and Darjeeling for and premium rooms...
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Online Hotels Aggregator Startup Stayzilla Raises $13 Million Funding
13May By PriyankaNo Comments
FUNDING

Online Hotels Aggregator Startup Stayzilla Raises $13 Million Funding

As per the mint report, Stayzilla has raised $13 million Series C funding from existing investors Matrix Partners and Nexus Ventures, according to documents filed with the Registrar of Companies. In report the funding round of online aggregator of budget hotels split into three tranches of $8.8 million (Rs.58.5 crore), $1.9 million (Rs.13 crore) and $2.4 million (Rs.16.3 crore), between November 2015 and March 2016.   About Stayzilla - Stayzilla was founded by Yogendra Vasupal, Sachit Singhi and Rupal Yogendra. The company which started off by offering travelers stay options in budget hotels, last year forayed into home stays, connecting travellers with homeowners with spare accommodation in their houses. Earlier, Stayzilla raised close to $20 million from Nexus Venture Partners...
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