OYO Expects to Double Down on Growth in its Home Market
OYO Hotels & Homes is “well-capitalised” and will be doubling down on growth in its home market of India. From the ongoing funding round, it plans to invest a fifth, or $200 million, in Asia’s third-largest economy.
The SoftBank-backed company, which is in the process of raising $1 billion (Rs 7,000 crore) from a clutch of investors, doesn’t have any plan to raise further capital.
“Today, we are committing to invest $200 million in India, with the focus on building strong capabilities that will help us further improve the quality of customer experience in India. We will cross leverage this in other markets as well,” he said.
The communique suggests a shift in OYO’s strategy from focusing on profitability — last fiscal year it had cut losses by a third to pushing gr...