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Singapore-based Grab in Advanced Talks to Invest $100 Million in OYO

3Dec By Gauri SinghNo Comments

BUSINESS

Singapore-based Grab in Advanced Talks to Invest $100 Million in OYO

Singapore ride-hailing company Grab is in advanced talks to invest $100 million (Rs 697.7 crore) in OYO Hotels & Homes as part of the Indian hospitality chain’s ongoing $1 billion funding round. Grab is expected to close the deal over the next few days, according to two people briefed on the matter. Grab and OYO, both of which count SoftBank as one of their primary investors, have identified Indonesia as a key market for growth. Grab, which has been going head-to-head with Indonesia’s ride-hailing and logistics startup Go-Jek, has stated its intention of entering sectors ranging from grocery delivery to healthcare, according to a report by Bloomberg. OYO announced the launch of its operations in Indonesia in October last year. At the time, the Ritesh Agarwal-led company starte...

22Nov By Gauri SinghNo Comments

BUSINESS

Hospitality Chain Treebo Launches Three Fresh Sub-brands

Hospitality chain Treebo has launched three sub-brands to cater to different consumer segments. Along with this, the company has also unveiled a new logo. The Bengaluru-based company stated that it has launched three sub-brands for its hotel portfolio, Trip, Trend, and Tryst, which will operate at different price points, along with having different amenities associated with each. “As our portfolio grew, it was necessary for us to segregate properties based on the amenities they offered, despite the fact that all properties offered the core quality guarantee that Treebo is known for,” Sidharth Gupta, co-founder of Treebo said. It has also been mentioned that majority of its property portfolio will be under the Trend brand, which operates in the Rs 1,500-Rs 2,500 price range. Treebo wi...

Yet Again, OYO Forays into Another Nation

16Oct By Gauri SinghNo Comments

BUSINESS

Yet Again, OYO Forays into Another Nation

OYO, the India-based budget hotel chain has been foraying into various countries since a long time. And yet again, the company has entered into another region that is in the United Arab Emirates (UAE). OYO has become one of the most reached hospitality chain in India and is growing its existence day by day in other countries as well. The company has stated that with over ten full-inventory, franchised and operated hotels and over 1100 rooms in three Emirates in Dubai, Sharjah and Fujairah, the room rates in the market will start at 150 dirhams. “With over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically UAE, is poised to grow substantially and with our market learnings and expertise we are ready to tap this opportunity,” ...

After China, OYO launched its service in Japan

9Oct By Gauri SinghNo Comments

News

After China, OYO launched its service in Japan

The budget hospitality chain OYO has been expanding to various countries for a long time. After China, Australia and many other countries, the company is now foraying into Japan which is the world’s third-largest economy. The Gurugram-based hotel chain lately raised $800 million in its latest round of funding that was led by SoftBank’s Vision Fund, following which, the valuation of the company reached $5 billion. The move also comes less than a year after the hospitality company entered China in December last year, a geography that it has identified as a core market, alongside India. According to the sources, Japan could also be the company’s next major market, after India and China. The step to enter Japan has also been driven by the expected growth in the country’s hospitality s...

31May By Gauri SinghNo Comments

ACQUISITION

Treebo Makes its First Acquisition by Getting Hold of Events High

India’s third-largest Bengaluru-based Hotel chain, Treebo Hotels has made its very first acquisition by getting hold of an event and activity discovery platform that brings all events, movies and things to do in various cities of our country. The acquired company is known as Events High. The event company provides various kind of information to the customers regarding the events and activities and also the ability to book them in 8 cities (Bengaluru, Mumbai, Delhi, Chennai, Hyderabad, Pune, Kolkata and Goa). The activities that they offer consists of – concerts, heritage walks, treks and hikes, dance workshops, educational workshops, cooking classes, sports carnivals, summer camps, road trips, language festivals, parties and nightlife and various other adventurous activities and fun eve...