OYO Makes Big Moves with Leadership Changes and U.S. Expansion
OYO, the hospitality giant led by Ritesh Agarwal, is making waves in the industry with a leadership change and an exciting expansion in the U.S. The company has appointed Sonal Sinha as the Chief Executive Officer of G6 Hospitality, the U.S.-based motel chain OYO acquired last December.
This move comes after OYO’s acquisition of G6…
Oyo’s Valuation Soars to $4.6 Billion After Nuvama Wealth Buys Rs 100 Crore Stake
In a significant development for India’s leading hospitality giant, Oyo, the company’s valuation has reached an impressive $4.6 billion following a major investment. Nuvama Wealth and Investment Limited has acquired a stake worth Rs 100 crore in Oravel Stays Ltd (the parent company of Oyo) at Rs 53 per share in…
Ritesh Agarwal Plans to Increase Stake in OYO with Fresh Rs 550 Crore Investment
Ritesh Agarwal, the founder and CEO of OYO, is set to increase his stake in the hospitality giant. According to recent reports, Agarwal is planning to buy Rs 550 crore worth of shares in OYO, which will raise his stake from 30% to 32% in the company.
This move is part of a broader strategy to strengthen his control…
OYO’s parent company, Oravel Stays, is set to purchase G6 Hospitality, the owner of Motel 6 and Studio 6 brands, from Blackstone Inc. for $525 million in an all-cash deal.
This acquisition marks a significant step for OYO, which has been expanding its presence in the U.S. since launching there in 2019. Currently, OYO operates over 320 hotels across 35 states and added nearly 100 hotels to its…
In a significant move to bolster its presence in the U.S. hospitality market, OYO has announced its acquisition of G6 Hospitality, the parent company of the well-known Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash transaction. The deal is anticipated to close in the fourth quarter of 2024, pending customary closing conditions.
This acquisition positions…
In a significant move to bolster its presence in the U.S. hospitality market, OYO, the India-based parent company of Oravel Stays, has announced its acquisition of G6 Hospitality, the franchiser of the well-known Motel 6 and Studio 6 brands, for $525 million. This all-cash transaction, backed by Blackstone Real Estate, is expected to close in the fourth quarter of 2024, pending customary closing…
OYO, the IPO-bound travel tech unicorn, has reported its first-ever net profit of ₹229 crore for the financial year ending March 2024, according to its latest annual report.
Ritesh Agarwal, the founder of OYO, took to X (formerly Twitter) on Wednesday to celebrate the milestone. He acknowledged that the results surpassed his earlier projection of ₹100 crore for the fiscal year 2023-24. “One…
OYO Hotels and Homes Ltd CEO Ritesh Agarwal, who is one of the youngest billionaires in the nation, has shared a piece of advice for the entrepreneurs on Tuesday.
The 27-year-old Agarwal, who started Oyo Rooms in 2013, said that around 80% of the venture business people rejected his organization in the underlying days.
Therefore, Agarwal said that “As an entrepreneur, you will face rejection…
Cordiality firm Oyo is hoping to raise $600 million (over Rs 4,380 crore) in the red from the US institutional financial backers to support its current advances, sources in know about the matter said on Thursday.
The organization is bringing $600 million up in a term credit B (TLB) structure, the sources said. The organization is taking the TLB to support its current advances which are on higher…
Accommodation firm OYO has dispatched OYO Care highlight on its portable application where clients can book isolate just as confinement offices for COVID-19 patients and people to help the medical services framework in the country.
“We have dispatched the OYO Care activity so our visitors can self-disconnect by picking an OYO nearby. Wanting to unburden medical services laborers, patients’…
