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News on Medial
Oyo adds hotels as business economics stabilise
The Arc Web
·
1y ago
Medial
Oyo is shifting its strategy by expanding its hotel inventory, partnering with real estate developers, and considering revenue share deals with hoteliers. After facing significant challenges during the pandemic, the company restructured its business model to focus on generating demand and providing software automation to hotel owners. Despite facing financial difficulties, Oyo is now on track to achieve its first-ever quarter of profit after tax. The company aims to win back top hotels and regain market share by leasing and managing properties. Oyo is also seeking private funding and awaiting the decision on its delayed stock listing.
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IPO-bound Oyo eyes doubling of revenue from company serviced hotels by FY26
Economic Times
·
2m ago
Medial
Oyo, a global travel tech platform, plans to raise booking revenue share from company-serviced hotels to 44% by fiscal year-end, targeting India and premium property growth. Currently, Oyo operates over 1,300 such hotels in India. This segment, introduced in FY23, quickly became Oyo's fastest-growing globally. The focus is on expanding in leisure cities, pilgrimage destinations, and business corridors. Company-serviced hotels deliver higher customer ratings and occupancy rates, aligning with Oyo’s 2025 strategic focus on profitability and guest experience.
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Oyo partners Yatra to expand business travel offerings - The Economic Times
Economic Times
·
29d ago
Medial
Oyo has teamed up with travel platform Yatra to enhance its business travel offerings, especially in major Indian hubs like Delhi-NCR, Mumbai, and Bengaluru. Over 500 Oyo company-serviced hotels have joined Yatra's platform, with plans to add 1,000 more by September. This partnership aims to boost Yatra’s inventory, catering to the growing demand for quality accommodations in emerging metros driven by increased business travel. Oyo seeks to tap into niche business travel markets and blended travel programs.
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OYO relaunches self-operated hotels with a focus on premium category
Inc42
·
1y ago
Medial
Indian hospitality unicorn OYO has relaunched its self-operated hotels after a two-year hiatus. Through its new Prime Partner Program, OYO aims to offer its best-managed hotel operators the opportunity to operate additional hotels and earn extra revenue. The company is seeking partnerships with real estate developers to identify suitable properties for these hotels. OYO has already partnered with 30 realtors and started operations in over 35 hotels across various Indian cities. The self-operated hotels will be closely monitored and will benefit from OYO's network of corporate accounts and travel agents.
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‘Super OYO’ hotels crosses 1000-mark, company plans to end FY24 with 1500
Business Today
·
1y ago
Medial
On Tuesday, OYO, a global hospitality technology company, announced that its 'Super OYO' designated hotels have exceeded 1000 in number, spread across 140 cities in India. The 'Super OYO' category was introduced in December 2022 with 200 properties across 70 cities to acknowledge hotels offering consistent and high-quality customer experiences.
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Oyo re-enters food biz with Townhouse Cafe QSR chain
Entrackr
·
3m ago
Medial
Oyo re-enters food biz with Townhouse Cafe QSR chain Hospitality major Oyo has forayed into the quick-service restaurant (QSR) space with the launch of its in-house brand, Townhouse Cafe. These cafes will be rolled out across company-serviced hotels (Townhouse by Oyo). Oyo has piloted the model since January 2025, covering 100 hotels across India. Over the coming months, it plans to scale this up in phases, targeting an ambitious 1,500 hotels, as per the company’s press release. Guests can place food orders through Oyo’s app as well as partner OTAs. In addition to in-house kitchens, the company is rolling out QSR carts and lobby stores under the Townhouse Cafe brand to offer ready-to-eat meals. According to the release, OYO is building a network of food and beverage experts across Delhi, Mumbai, Bengaluru, Hyderabad, Pune, Indore, Kolkata, Jaipur, and Lucknow to support its food service operations. While Oyo is yet to file its full FY25 financials, the IPO-bound company reported revenue of Rs 5,389 crore in FY24, slightly down from Rs 5,464 crore in FY23. However, a 16% reduction in expenses helped it post a net profit after tax (PAT) of Rs 230 crore for the year. The QSR venture seems to be part of Oyo’s broader push to boost revenue through allied services. This isn’t the company’s first foray into food — it launched a cloud kitchen business in 2019 but exited during the pandemic. While food operations are a natural extension of the hotel business, they require a distinct skill set and dedicated teams. Oyo likely gained valuable insights from its initial attempt and now appears better prepared to scale its food business in a more sustainable and strategic manner.
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Oyo completes G6 Hospitality acquisition from Blackstone Real Estate for $525 million
Economic Times
·
7m ago
Medial
Hospitality startup Oyo has acquired G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, for $525 million. This acquisition is expected to boost Oyo's earnings and significantly enhance its presence in North America. The transaction adds approximately 1,500 franchised hotels to Oyo's portfolio and is projected to generate a gross booking value of around $3 billion. Oyo's founder, Ritesh Agarwal, is also planning to increase his stake in the company by buying additional shares worth Rs 550 crore. Oyo reported its first-ever profit after tax of approximately Rs 229 crore in FY24.
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OYO launches 60% discount for Indian tourists on booking hotels in Thailand
Business Today
·
1y ago
Medial
Global hospitality technology company OYO has announced a discount of up to 60% for Indian tourists staying at OYO hotels in Thailand. This offer is available from October 11 to October 31, 2023, with reservations being accepted until December 31, 2023. OYO recently launched Super OYO hotels in Thailand and has added 13 such properties in cities like Bangkok and Pattaya. India was the second largest source of tourists to Thailand in 2022.
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Oyo Hotels Seeks $450 Mn Bond Sale For Refinancing
Inc42
·
1y ago
Medial
Indian hospitality startup Oyo Hotels is reportedly planning to secure up to $450 million through dollar bonds to replace its existing high-cost loan and address delays in its stock-market debut. The company's parent company, Oravel Stays Ltd., is in talks with banks to raise funds for repayment. Oyo raised $660 million in term loan funding earlier this year and hopes to finalize the refinancing process by the third quarter of 2022. The move comes as Oyo aims to improve its financial health and reports a decrease in net loss despite business growth.
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OYO to Rename Its 'Corporate Brand' Ahead of IPO
OutlookIndia
·
2m ago
Medial
OYO's founder, Ritesh Agarwal, announced plans to rename the corporate brand overseeing its business segments in preparation for an IPO. The change aims to establish a new global identity beyond hospitality. Existing brands like OYO Hotels and OYO Vacation Homes will retain their names. The company has invited community input for the new name. Despite previous setbacks, OYO is engaging banks to potentially list in 2026, reflecting renewed investor confidence amidst improved financial metrics.
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Khazanah in talks to lead Oyo Hotel’s $400 million fund raise
Economic Times
·
1y ago
Medial
Khazanah, the sovereign wealth fund of Malaysia, is reportedly in talks to lead a $400 million fundraise for OYO Hotels. The funding round, if successful, could help OYO further expand its presence in international markets. This move comes as OYO has been facing challenges due to the COVID-19 pandemic, with a decline in hotel occupancy and revenue.
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