Insta
Airbnb To House Part Of Oyo: Firm Books $500 Million Investment From World’s Largest Home-Sharing Platform
OYO Townhouse hotel (Website/OYO)
World’s largest home sharing and rental platform Airbnb has purchased a stake in India’s largest hospitality chain Oyo for anywhere between $150 million to $200 million, reports Mint.
Both the companies are yet to reveal the exact nature and size of the transaction, which is a part of the Series-E funding round of India’s homegrown budget hotels aggregator.
This deal will allow Oyo to list its 10,000 villas and homes in India, Dubai and other markets on the Airbnb platform and help to expand Oyo’s international reach and strengthening Airbnb’s presence in Asia.
“Both will explore opportunities to collaborate on a range of projects. The key one is going to be making Oyo accommodation available on the Airbnb platform,” said a source to Mint. San Francisco-based Airbnb is one of the world’s most valued startups and is expected to go public either this year or in 2020.
Recently OYO Rooms also attracted an investment of $100 million from Didi Chuxing, China’s largest ride-sharing company.
Asia And Beyond
OYO, which has plans to add over a million rooms across the globe in the next three to four years, has also lined up a $600 million investment in China. It is seeking to expand in the lucrative tourism markets of West Asia, South-East Asia and parts of Europe.
New Delhi-based OYO is already the largest hotel chain in Indonesia and plans to repeat the feat in Japan before the 2020 Tokyo Olympics.
Also Read: India And The Dark Side Of Tech Platforms
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
