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Wednesday, June 03, 2020

Oyo Hotels

OYO HOTELS NEWS

Oyo furloughs thousands of workers in setback for SoftBank

April 09, 2020 1:14 pm

Oyo has more than $1 billion of cash in the bank and is exploring options to remain viable over at least the next 36 months, one of the people said. SoftBank shares rose as much as 3.5% in Tokyo trading.

‘OYO raises $807 mn from SoftBank, RA Hospitality’

March 18, 2020 12:59 am

The latest investment will take OYO’s total fund count to over $2 billion. The bulk of the fresh funds will be used to expand its business in the US, the company had said earlier.

SoftBank-backed Oyo to cut about 5,000 jobs in overhaul

March 05, 2020 8:32 am

The Indian startup, Oyo Hotels, is reducing staff in China, the US and its home country as it seeks to boost profitability.

OYO net loss widens to $335 mn in FY19, revenue rises five-fold

February 18, 2020 4:16 am

Consolidated revenues grew nearly 5 times year-on-year to $951 million in FY19. Revenues stood at about $211 million in FY18, OYO said.