The complaint against the two firms was filed Federation of Hotel and Restaurant Associations of India.
In a day of twists and turns, the government received Rs 14,697 crore from three companies out of the telecom sector's total dues linked to adjusted gross revenue estimated at Rs 1.47 trillion
The SoftBank-backed firm has been reported to have been in the process of laying off close to 2,000 employees as it shifts focus towards profitability
Hospitality firm OYO on Tuesday said its corporate channel has witnessed an 80 per cent increase in revenue on a year-on-year basis on account of strong growth trajectory in corporate bookings. The company currently has a total of over 8,400 active corporate accounts, OYO said in a statement. The company's corporate channel contributes over 30 per cent to the total revenues of OYO, it added. The revenue of corporate channel for the calendar year 2019 stood at Rs 459 crore, OYO said. "The corporate travel segment is a key engine of growth for us and we are seeing strong demand for our standardised and affordable offerings from business travellers across India," OYO Hotels & Homes India & South Asia COO Gaurav Ajmera said. The company welcomed over 4,000 new corporations in 2019 and their trust in the brand is a testament to the value OYO is creating for its corporate customers, he added. "As part of our continuous efforts to strengthen the corporate portfolio, we are working to
The firm is said to be firing 2,400 employees, or 20 per cent of its workforce in India, mainly in sales and business development
The bulk of this fresh round of layoffs will be from its cloud kitchen business, which has about 200-300 employees in India
The company announced the appointment of Raj Kamal as COO for its Vacation Homes business in the UK and Europe
The decade has seen an impressive 25x growth in terms of the total funding raised by the startups.
Masayoshi Son-led SoftBank made massive investments in the Indian startups, biggest funding round
OYO Hotels & Homes on Friday said it has appointed Ankit Gupta as chief operating officer and senior vice president for its coliving, rental homes and self-operated hotel businesses in Indian and South Asia. Gupta has been appointed as COO & SVP - Frontier Businesses, OYO India & South Asia. Frontier businesses comprise OYO's self operated hotels (OYO Townhouse, Collection O, SilverKey), student housing and co-living and OYO Home businesses, the company said in a statement. Ankit Gupta, an alumnus of IIT Bombay, joined OYO India & South Asia from McKinsey & Co where, as a tenured Partner, he was the global leader of their real estate transformation practice. OYO has a portfolio of more than 44,000 hotels with over 1.2 million rooms. Through its vacation homes business, the company offers travellers and city dwellers access to over 1,25,000 homes around the world under OYO Home, Belvilla, Danland, Dancenter and Germany-based Traum-Ferienwohnungen brands. It ...
Oyo, which is also backed by SoftBank Group Corp, said it has bought back the shares in Japanese apartment rental company.
Oyo has recently undergone large-scale corporate restructuring, setting up several subsidiaries and bifurcating operations globally
Hospitality firm OYO on Monday said it has elevated Aditya Ghosh, currently chief executive officer (India & South Asia) for the hotels and homes business, as a member of its board of directors. Rohit Kapoor, currently CEO of the new real estate businesses of the company, has been appointed as CEO (India & South Asia) for OYO Hotels & Homes, it added. Ghosh will join OYO Hotels & Homes founder & Group CEO Ritesh Agarwal, Baja Corporation founder & CEO Betsy Atkins and other industry experts like Munish Varma, Bejul Somaia and Mohit Bhatnagar, among others, on the company's board, OYO Hotels & Homes said in a statement. In his role on the board, Ghosh will focus on five key areas namely, safety and security, customer experience, corporate governance, revenue management and stakeholder communications, the statement said. "Ghosh's strong business acumen, problem-solving capabilities, passion for building an organisation with strong corporate governance and a ..
The losses have reportedly mounted due to the rise in operating expenses fuelled by the company's aggressive expansion in overseas markets
The growing losses at Oyo come as its major investor SoftBank struggles to raise funding for a second investment fund in the wake of the failed listing of office-rental company WeWork
With 9200+ hotels under OYO's portfolio currently partnered with this program, OYO Wizard is increasingly becoming a preferred option of booking quality and affordable accommodation on OYO.
A cheating case has been registered against OYO Hotels & Homes founder Ritesh Agarwal and six others based on a complaint by a hotelier who has alleged that the firm did not pay rent for rooms for the past five months, police said on Monday. In his complaint, Betz Fernandez, who owns Roxel Inn at Domlur here, stated that OYO had booked rooms and had agreed to pay Rs 7 lakh per month. However, since May OYO did not pay him any rent thereby duping him to the tune of Rs 35 lakh, he alleged. Besides Ritesh Agarwal, police have booked Rohit Srivastava, head of OYO South, heads of business development Madhvendra Kumar and Gourab De, OYO Finance Officers Prateek Agarwal, Manjeet Singh and Mrimony Chakraborty. They have been asked to appear before the investigating officer on Thursday, police said. The OYO Hotels & Homes said in a statement that they will file a counter complaint against the Bengaluru hotel owner for "using improper legal means to sensationalise a civil .
OYO's presence in Bihar includes 28 cities including Patna, Bodhgaya, Muzaffarpur, Purnea and Bhagalpur
A significant part of the Series-F funding will be diverted in boosting US footprint, and in strengthening position in the vacation rentals business in Europe
Japanese investor Masayoshi Son reacts after his company comes under pressure from some investors for its bets on loss-making businesses.