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OYO Re-Starts Self-Operated Hotels, Targets 200 New Properties
Hospitality tech platform OYO on Tuesday said it has restarted self-operated hotels tagged as 'Managed by OYO' through the company's app and website and is seeking partnerships with real estate developers to identify properties for these hotels. "As part of the ...
OYO to Prepay Rs 1,620 Crore Debt Through Buyback Process
Global travel-tech player OYO is set to prepay a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The move comes on the back of Ritesh Agarwal-led startup reporting its first-ever profit in the second quarter of 2023-24....
OYO To Add 750 Hotels In Over 35 Leisure Markets For Tourism Boost
Hospitality tech giant OYO announced its ambitious plan to expand by adding 750 hotels to its platform within the next three months. These new additions will primarily feature under OYO's premium brands, including Palette, Townhouse, Townhouse Oak, and Collection O. The ...
OYO Set To Report Maiden Profit In Q2: Sources
Oravel Stays Ltd, which operates travel tech brand OYO, is set to report its first-ever profit after tax of over Rs 16 crore in the current quarter ending September, according to an email sent by OYO's founder and CEO Ritesh Agarwal ...
'OYO' Expects More Than Rs 5,700 Revenue In FY23
Hospitality and travel-tech firm OYO estimates its revenue in FY23 to be more than Rs 5,700 crore, up 19 per cent from Rs 4,780 crore it had recorded in FY22, according to its Founder & Group CEO Ritesh Agarwal. At a ...
'OYO' To Double Premium Hotels In India In 2023
OYO on Tuesday announced its plan to double the number of premium hotels in India with the addition of around 1,800 such hotels in 2023. Its premium hotel brands include Townhouse Oak, OYO Townhouse, Collection O and Capital O. OYO currently ...
OYO To Refile Updated Draft IPO Papers, By Mid February
Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month. Earlier this month capital markets regulator Sebi had asked the company to refile ...
Small Towns Witness Highest Increase, In Room Bookings In 2022: OYO
India's small towns like Hathras, Sasaram, Karaikudi, and Tenali witnessed the highest increase in room bookings in 2022, according to hospitality and travel-tech firm OYO's annual data. With travel bouncing back strongly after the pandemic, OYO Travelopedia 2022 found that Hyderabad, ...
6 Major IPOs Lined-Up In 2023
The market experienced significant volatility in 2022, which had an impact on the performance of the listed companies as well as the IPOs. While investors in some of the listed companies suffered significant losses, others have made enormous profits from the ...
OYO To, Downsize 3,700-Employee Base, Cut 600 Jobs
IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams. OYO said ...
IPO-Bound OYO Reports EBITDA, Of Rs 63 Crore In April-September
Travel tech firm OYO shared its financials for the first half of FY23 with market regulator Sebi on Monday, reporting its EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of Rs 63 crore. In an addendum to update its IPO application ...
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