OYO HOTELS & HOMES
Layoffs, rejig one-time exercise, will be over soon: Oyo CEO
The question that whether some staff members are being asked to go is correct. Over the last one and a half years, there has been an increase in revenue to about 3x, and we had 1-million-plus rooms globally by the end of 2019
Oyo to shut doors on 2,400 Indian staffers, may let go more in March
Layoffs will be in mid-management, business development, sales and opera...
Why is it hard for hotels to trust Oyo?
Many hotels have severed ties with Oyo citing alleged discrepancies in contracts and payments.
Oyo to end unprofitable contracts as SoftBank sets pre-IPO deadline
The company runs about 800 hotels under a self-operated business model, where it makes investments and has leasing arrangements with property owners. It is likely to phase out contracts under the segment that is not Ebitda-positive by March 31. Plans are also afoot to shut down ancillary businesses that do not post an operating profit by July as per a mandate from SoftBank.
Oyo appoints former McKinsey executive as COO
Gupta is entrusted with the responsibility to strengthen and consolidate existing opportunities in the co-living, student housing, self-operated hotels, and rental homes businesses of the company in India and South Asia under the frontier businesses umbrella.
Oyo likely to lay off 2,000 people by January end
Divisions like sales, supply and operations will account for a chunk of the layoffs, sources said.
OYO appoints Betsy Atkins as independent director
As an independent member of the board, Betsy will play a supervisory role and provide guidance to the founder and the management on key business decisions, OYO Hotels & Homes said in a statement.
Guess how much Sequoia executives made from Oyo
The windfall for the fund executives comes on the back of RA Hospitality, a special purpose vehicle domiciled in the Cayman Islands, recently buying Oyo shares worth $1.3 billion from these two venture firms on behalf of Agarwal.
What's inside Oyo's 'Raho Mast' campaign?
Oyo's campaign has been conceptualised and conceived in-house under the charge of Mayur Hola, creative head, India, and SE Asia, for the company. The three films shot by Chrome Pictures show different use-case scenarios.
Why did Oyo founder take a risky $2 billion bet?
The unprecedented move has raised eyebrows due to the massive debt financing raised by the entrepreneur by pledging his shares. Founder & CEO Ritesh Agarwal did not say how he would service the debt. When asked if he would opt to refinance the loan, he said that he is focused on building a good business, and if he does, the refinancing will happen.
Low cost does not mean low quality: Oyo's Aditya Ghosh
Aditya Ghosh, CEO, India & SA, Oyo Hotels and Homes tells Brand Equity’s Amit Bapna why this is the right time for the brand campaign and why new-age brands that challenge legacy businesses are bound to face flak. Excerpts...
OYO Hotels & Homes to expand operations across West Bengal
The startup began Kolkata operations in 2015 and has since then expanded its footprint to over 400 plus hotels and 7,000 rooms.
Aditya Ghosh on Oyo Board, Rohit Kapoor named new CEO
Ghosh said he will focus on governance, profitability, communications, consumer experience, security and safety
Betsy Atkins joins Oyo board as Independent Director
Atkins, who founded Baja Corp, an early-stage technology, energy and healthcare-focused investment firm in the early 90s, has sat on the boards of corporations like Schneider Electric, Volvo, Polycom and Nasdaq.
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