hospitality chain
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Vaishnavi Gupta Aug 24 2020 - 1 min readDusit International, the Thailand-based hospitality firm, is making its re-entry into India. The company is looking at launching at least two Dusit-branded hotels per the year 2021 onward in tier I and tier II cities. Under a franchise agreement with the Jain Group, the firm will launch Dusit Princess Serviced Suites Kolkata by 2023. Jain ...
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Franchise India Bureau Jul 20 2019 - 2 min readRitesh Agarwal, Founder and Chief Executive Officer of Oyo Hotels and Homes, has purchased $2 billion in shares from venture capital firms Sequoia Capital and Lightspeed Venture Partners. This transaction has taken up Agarwal’s stake in OYO from nearly 10% to 30%. After the buyback of $2 billion shares, the fast-growing Indian hospitality chain OYO has garnered a valuation ...
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Franchise India Bureau Jul 15 2019 - 1 min readOyo Hotels & Homes is looking to expand its offerings in Saudi Arabia. With this expansion, the hospitality firm aims to meet its target of creating 5,000 jobs for Saudis. The kingdom’s Public Investment Fund (PIF) and OYO signed a memorandum of understanding (MoU) in February 2019. Under this MoU, both of them agreed to ...
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Vaishnavi Gupta Apr 06 2019 - 4 min readBeginning from a single hotel in May 2013, OYO has become India's largest hospitality company, having a presence across 259 cities with around 173,000 hotel rooms in the country. OYO, founded by Ritesh Agarwal, has recorded global sales run-rate of $1.8 billion in December 2018, growing at 4.3X, and its India business was growing at 3X with ...
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Franchise India Bureau Feb 14 2019 - 1 min readStar Virtue Investment, an entity controlled by the Chinese cab-hailing giant Didi Chuxing, has invested $100 million in hospitality chain Oyo Hotels & Homes. The funding is part of the $1 billion investment round, where $900 million has already been invested by Japanese conglomerate SoftBank, Singapore ride-hailing company Grab and others. The OYO spokesperson said, “$900 ...