Oyo stays Adamant as Zostel claims Victory in a Legal Row

Zostel Hospitality PVT Ltd, which owns hostel aggregator platform Zostel and budget room aggregator Zoom Rooms, claimed on Sunday that it has tasted victory in a three year old legal tussle against Oravel Stays Pvt Ltd – parent company of Oyo Rooms. This supposed victory implies that Zostel can now initiate proceedings to acquire 7% stake…

ByGirish ShettiMarch 8, 20210Comments

News

Ritesh Agarwal starts his own Personal Investment company

What is common between Sachin Bansal, Binny Bansal, Kunal Bahl, Rohit Bansal and Vijay Shekhar Sharma. Apart from the fact that they are all highly successful entrepreneurs, they are equally prolific investors and have invested in dozens of startups through their personal investment vehicles. Now Oyo’s Ritesh Agarwal is the latest name to be added…

ByGirish ShettiJuly 29, 20200Comments

News

Oyo goes for Fresh Layoffs in the US: Report

Oyo has handed pink slips to hundreds of employees across different verticals in the fresh lay off exercise, according to Economic Times (ET). The latest layoff comes after the hospitality major had fired almost one-third of its U.S staff in February as part of the restructuring process, resulting in the termination of thousands of employees…

ByGirish ShettiApril 8, 20200Comments

News

Hyderabad based Hospitality Firm Drags Oyo to NCLT: Report

Conclave Infratech, a hospitality firm headquartered in Hyderabad, has moved an insolvency application in National Company Law Tribunal’s (NCLT) Ahmedabad chapter against Oravel Stays – the parent company of Oyo Rooms. Image Source: Ritesh Agarwal's official Twitter handle According to Economic Times (ET), Conclave Infratech has moved the insolvency application citing breach of contract by Oyo. Conclave…

ByGirish ShettiMarch 2, 20200Comments

Funding News

Oyo may have Already Started Laying Off Employees; Over 3000 Workers Laid Off

Last week Oyo Rooms confirmed the worst fears of economic slowdown and consolidation finally hitting the Indian startup industry, after the Gurgaon based company announced that it is firing nearly 20% of its Indian workforce in coming weeks. Company’s founder and CEO Ritesh Agarwal did not specified about any exact deadline though it was assumed…

ByGirish ShettiJanuary 20, 20200Comments

News

OYO’s Success Story will now Echo in Harvard Class Rooms

It is no secret that today the stories of Oyo Rooms’ stellar success have become part of curriculum studies across several Indian business schools. But now the anecdotes of Oyo’s inspirational journey will also be taught at Harvard Business School, one of the world’s most prestigious business schools. Harvard has agreed to induct a case…

ByGirish ShettiJanuary 2, 20200Comments

Funding News

Ritesh Agarwal now Officially Owns 30% Stake in OYO Rooms

Ritesh Agarwal now enjoys unprecedented control over OYO Hotels and Homes – a company that he founded way back in 2013. The Gurgaon based company has officially undergone major changes in the ownership pattern with Agarwal now owning 30% stake in the company. Image Source: Ritesh Agarwal's official Twitter handle The official changes in Oyo’s ownership pattern…

ByGirish ShettiSeptember 17, 20190Comments

News

Drivezy strikes Commercial Agreement with OYO for Vehicle Sharing

Self-driving car and bike rental startup Drivezy has entered in a commercial agreement with hospitality chain major Oyo Hotels & Homes, which will allow the former to park its vehicles at Oyo properties across the country. Resultantly, this will help Oyo as well as Drivezy’s customers to easily access the vehicles. Drivezy will now get to…

ByGirish ShettiSeptember 9, 20190Comments

Acquisitions

Oyo in talks to Acquire Lovely University’s Student Hostel Assets: Report

India’s largest hospitality company and budget hotel major Oyo Rooms is reportedly in advanced talks to acquire student accommodation assets of Lovely Professional University (LPU). The student accommodation assets is said to be located in one of LPU’s largest campuses and this tentative deal is touted to be around $200 Mn. Oyo may acquire Lovely University’s…

ByGirish ShettiSeptember 4, 20190Comments

Funding News

Japanese Consortium will Fund Agarwal’s $2 Bn Buyback in Oyo

Japanese financial services Nomura and Mizuho will be part of the three member consortium team that will finance Ritesh Agarwal’s buyback proceedings in Oyo Hotels and Homes. The third member of this consortium is also a Japanese financial company but its identity is still not known. Three member Japanese consortium including Nomura & Mizuho will fund…

ByGirish ShettiJuly 23, 20190Comments

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