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<ul><li> Heavy downpour has caused water logging across Mumbai, leaving several commuters stranded.</li><li>According to Mumbai meteorological centre, very heavy rainfall is likely to continue for the next 24 hours with occasional gusty winds reaching 40-50 kmph.</li><li>The Met department has also issued an orange alert for Mumbai till July 14.</li><li>As Mumbaikars look for alternative accommodation options in the wee hours of the day, hospitality brand <keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> has rolled out a discount in prices for commuters.</li></ul>Since the beginning of monsoon season in Mumbai, local trains, which are known to be the city’s lifeline, are <a href="https://www.news18.com/news/auto/indian-railways-live-update-mumbai-local-train-services-continue-to-remain-disrupted-due-to-heavy-rain-on-july-7-5505121.html">delayed</a>. Heavy showers in India’s financial capital lead to water-logging at a number of places including railway tracks, slowing down the movement of trains, and even buses and cabs on the road. Many commuters get stuck while attempting to travel back home during peak hours, or seek refuge at a friend or relative’s house near their workplace. "Having lived in Mumbai for a decade, I have been through the stress of travelling back home during heavy downpour and waterlogging. Over the past week, we’ve seen heavy rains lash the city almost every day, leading to disrupted traffic movement and waterlogging across major parts of the city,” said Shreerang Godbole, SVP - product and chief service officer of OYO. As Mumbaikars look for alternative accommodation options in the wee hours of the day, hospitality brand OYO has rolled out a discount in prices for commuters. Stranded Mumbaikars can book an OYO near them at a 60% discount with the coupon code ‘MumbaiRain’. “We rolled out this offer to ease the challenges faced by Mumbaikars during the peak monsoon season in Mumbai,” said Godbole. The India Meteorological Department has issued an <keyword id="7914599" type="General" weightage="20" keywordseo="orange-alert-in-mumbai" source="Orion">orange alert in Mumbai</keyword> till July 14.

OYO rolls out a discount for Mumbai’s stranded commuters as the city stays on orange alert till July 14

<ul><li>The reported acquisition of <keyword id="6434843" type="LOCATION" weightage="20" keywordseo="freshmenu">Freshmenu</keyword> could happen for $60 million. </li><li>Oyo and Freshmenu have a common investor – Lightspeed Venture Partners. </li><li>The hospitality unicorn has big dreams – it wants to become the world’s largest hotel chain in two years. </li></ul>Indian hospitality unicorn Oyo Rooms is <a href="https://tech.economictimes.indiatimes.com/news/internet/oyo-in-talks-to-acquire-freshmenu-for-60m/68104058">reportedly</a> looking at venturing into foodtech by acquiring cloud kitchen startup Freshmenu. The acquisition, which could be valued at $50-60 million according to ETtech, will mark Oyo’s entry in the food space. Freshmenu, as a cloud kitchen startup (accepts only online delivery), has its own kitchens and delivery. Since its launch in 2014, the startup has gone on to have over <a href="https://yourstory.com/2019/01/freshmenu-funding-lightspeed-ventures">27</a> kitchens across Bengaluru, Mumbai and Delhi. In November, <a href="https://tech.economictimes.indiatimes.com/news/startups/freshmenu-revenues-jump-72-to-rs-122-3-cr-even-as-losses-remain-flat-in-fy18/66868516">ETtech</a> reported that Freshmenu had seen a jump in its revenues to 72% at ₹122.3 crore in FY18 compared with ₹71 crore in FY17. Oyo and Freshmenu have a common investor – Lightspeed Venture Partners – and <a href="https://www.moneycontrol.com/news/business/oyo-rooms-may-invest-in-freshmenu-to-enter-food-delivery-business-3571111.html">reportedly</a>, it is Lightspeed that has brought the two startups together. Oyo Rooms has big ambitions – it wants to become the world’s <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">biggest</a> hotel chain in the next two years. Introducing F&amp;B services will help the hospitality chain to offer more to its consumers. Meanwhile, Freshmenu works with Zomato and Swiggy and receives most of its orders from the two platforms. The hospitality startup Oyo had turned into a unicorn in 2018 after it received a funding of $800 million at a valuation of $5 billion. It has also made a mark globally in China, Saudi Arabia, Dubai and is even considering entering the big league with its entry into the US markets. In China, it become one of the top 10 hotel chains in just one year of operations. “Globally, we have reached over 4,58,000 fully controlled leased and franchised keys (rooms) with a realised value run rate of $1.8 billion,” said its CFO Abhishek Gupta to <a href="https://www.financialexpress.com/industry/sme/oyo-grows-over-4x-on-year-to-1-8-billion-claims-adding-more-rooms-than-top-3-hotel-chains-combined/1480527/">Financial Express</a>. See Also: <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a> <a href="https://www.businessinsider.in/oyo-rooms-is-the-most-valuable-hotel-chain-in-south-asia-after-softbank-investment/articleshow/65964564.cms">OYO Rooms is the most valuable “hotel chain” in South Asia after Softbank investment</a> <a href="https://www.businessinsider.in/this-24-year-old-dropped-out-of-college-won-funding-from-peter-thiel-then-raised-480-million-for-his-startup/articleshow/65910683.cms">This 24-year-old dropped out of college, won funding from Peter Thiel, then raised $480 million for his startup</a>

Oyo wants a bite of foodtech, may acquire Freshmenu: Report

<keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">OYO rooms</keyword>, the budget hotels brand based in Gurgaon, is all set to raise a fresh round of funding worth Rs 413 crore, which would be done through a proposed right issue of shares to the existing shareholders. The above has been reported as per the documents filed with the Registrar of Companies. 
 
After this new round of funding, the post-money valuation of Ritesh Agarwal-led company will be at Rs 3129 crore or about $460 million, says the filing. 
 
It was in August last year that <a href="http://www.businessinsider.in/OYO-Rooms-ties-up-with-PayPal-to-make-its-global-expansion-more-efficient/articleshow/51312289.cms">OYO</a>, started in 2013, had raised its previous round of funding of $100 million; the round was led by <a href="http://www.businessinsider.in/SoftBanks-India-investments-might-jump-the-10-billion-mark-in-the-coming-decade/articleshow/52500995.cms">Softbank Corp</a>, the telecom and internet major based in Japan. After that round, the company was valued at $400 million. 
 
Also read: <a href="http://www.businessinsider.in/Now-you-can-book-OYO-Rooms-on-your-next-trip-to-Darjeeling-and-Gangtok/articleshow/52296199.cms">Now you can book OYO Rooms on your next trip to Darjeeling and Gangtok</a> 
 
It was also <a href="http://www.businessinsider.in/OYOs-Zo-acquisition-delayed/articleshow/51807022.cms">reported earlier</a> that VentureNursery, the Mumbai-based start-up accelerator which was the first investor in <keyword id="2808667" type="UNKNOWN" weightage="100" keywordseo="OYO">OYO</keyword>, had raised some issues while Oyo was <a href="http://www.businessinsider.in/Oyo-Rooms-to-buy-Zo-Rooms/articleshow/50024196.cms">planning to acquire</a> the smaller rival Zo Rooms, but as Oyo plans to raise a fresh funding round with <a href="http://www.businessinsider.in/SoftBank-says-moshi-moshi-to-Oyo-Rooms/articleshow/47327975.cms">Softbank’s support</a>, it looks like the period of uncertainty is over. 
 
<a href="https://assets.entrepreneur.com/content/3x2/1300/20150805130406-Ritesh-Agarwal-CEO-OYO-Rooms1600px.jpeg">Image source</a>

OYO eyes Rs 413 crore funding, to be valued at Rs 3129 crores

Budget hotel aggregator <keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">OYO Rooms</keyword> <a href="http://www.businessinsider.in/Oyo-Rooms-may-buy-its-smaller-rival-Zo-Rooms/articleshow/50024196.cms">was all set to acquire rival Zo rooms</a>, but certain complications could cause a delay in the deal. One of its early investors has come up with some fresh demands, which has stalled the acquisition process. 
 As per sources, <keyword id="1679438" type="UNKNOWN" weightage="100" keywordseo="VentureNursery">VentureNursery</keyword>, a Mumbai-based accelerator which was the first investor in OYO, has said that it should be given access to information that large investors typically receive from a company along with the right to exit from the combined entity and that too at a pre-determined valuation. 
 
Also read: Exclusive: <a href="http://www.businessinsider.in/Exclusive-OYO-Rooms-CEO-says-soon-staying-at-OYO-hotels-will-be-like-staying-at-luxurious-homes-Easy-walk-in-easy-walk-out/articleshow/49416395.cms">OYO Rooms’ CEO says soon staying at OYO hotels will be like staying at luxurious homes! Easy walk-in, easy walk-out</a> 
 
"VentureNursery is demanding right to information and exit at $700-million valuation, both terms which are unacceptable to OYO's larger shareholders," a person directly familiar with the development told ET. 
 
Experts and investors opine that even though VentureNursery does not have enough shares to block the proposed merger, its demands should be addressed as it can otherwise create hurdles in the works for <a href="http://www.businessinsider.in/OYO-Rooms-knows-the-way-to-the-customers-heartis-through-his-stomach/articleshow/49800486.cms">OYO</a>, which is looking to raise <a href="http://www.businessinsider.in/OYO-Rooms-ties-up-with-PayPal-to-make-its-global-expansion-more-efficient/articleshow/51312289.cms">fresh capital</a>. 
 The reason behind these sudden demands could be the disagreement within OYO, as some managers are not convinced about the terms of <keyword id="2825269" type="UNKNOWN" weightage="100" keywordseo="Zo-Rooms">Zo Rooms</keyword> negotiation, giving it a 7% stake in the company.

OYO's Zo acquisition could be delayed because of its first investor

<a href="http://www.businessinsider.in/searchresult.cms?query=hotels">Hotels</a> that tied up with aggregators seem to be displeased by the latter. Trouble began when the <keyword id="3187949" type="UNKNOWN" weightage="20" keywordseo="Hotel-Aggregators">hotel aggregators</keyword> started undercutting and promising more than the <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">hotels</keyword> could provide. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=hotel+aggregators">hotel aggregators</a> were at their peak as they were getting lot of customers in 2015 and had tied with as many as 1000 hotels. 
 
However, the experience, over the time, turned sour for the aggregators. 
 
ET reported an incident in which Sunil J Trivedi of Riverview Hotel in Ahmedabad said aggregators do not put everything on the site, which misleads the customer. 
 
"Undercutting is totally not tolerable in this industry as it is harmful for our business and goodwill. This clearly impacted the customers coming to us as sometimes we got day-use kind of bookings, which we never take," said Trivedi. 
 
Likewise, there are many instances in which hotels are snapping ties with the aggregators now. 
 
As per reports, over 200 hotels have apparently ended ties with leading aggregators Oyo <a href="http://www.businessinsider.in/searchresult.cms?query=oyo+rooms">Rooms</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=zo+rooms">Zo</a> in the last five-six months. 
Another problem that hotels are facing is of payments. 
 
A Mumbai-based hotelier Karl Kerawalla took to <a href="http://www.businessinsider.in/searchresult.cms?query=twitter">Twitter</a> to complain about a non-payment issue. 
 
Hotels say due to a plethora of issues their loyal customers are turning away, which could lead to a major problem in the long run. 
 
Manav Thadani, chairman, HVS Asia Pacific told ET, "While there has been a lot of hype about the aggregator model, how many will survive depends on the management and having solid processes in place rather than deep discounting to win the game."

Hotels are snapping ties with aggregators after experience goes sour

Japan’s <keyword id="280185" type="COMPANY" weightage="80" keywordseo="Softbank-Corp">SoftBank Corp</keyword> is planning to pick up 25-30% stakes in <keyword id="2550719" type="UNKNOWN" weightage="80" keywordseo="OYO-Rooms">Oyo Rooms</keyword>, which has emerged as the largest player in the fast growing online hotel booking space. 
 
Japan's telecoms and internet giant SoftBank has also held talks with Oyo Rooms for leading a massive $100 million or Rs 630 crore financing round in the company, people familiar with the matter told Times of India. 
 
If everything goes well, this would be the third institutional fund-raise for Oyo Rooms, which was founded by Ritesh Agarwal, a college dropout, as Oravel Stays three years ago. 
 
Softbank is an existing investor in e-tailer Snapdeal, taxi-hailing service Ola and realty portal Housing. 
 
People familiar with the matter, on the condition of anonymity, said Softbank is said to have put in a term sheet, a non-binding agreement between the company and the investor, but the final terms of the funding are yet to be closed. 
 
Sources told TOI that Tiger Global, one of the most aggressive and prolific backers of India's consumer internet story, had also discussed a potential investment in the Oyo Rooms but may have pulled out of the talks. 
 
When contacted by TOI, a Softbank Corp spokesperson in Tokyo said over an email, "We are not able to comment on this." 
 
Meanwhile, CEO of Oyo Rooms also did not offer any comments regarding the matter. 
 
Oyo is present across 15 cities with 4000 budget hotel rooms on its platform. Starting at moderate charges of Rs 999 per night, hotel owners that partner with Oyo see a significant spike in occupancy levels, the aggregator claims. 
 
In March, Oyo had raised $25 million from Greenoaks Capital, an investor in e-Commerce major Flipkart, with existing investors Sequoia Capital and Lightspeed Venture Partners also participating valuing it at $100 million. 
 
"We are seeing for the first time that technology is touching the lower income section so the Indian market will see lots of products and interests in these segments going forward," Rehan Yar Khan, general partner at Mumbai-based early-stage venture fund Orios Ventures told TOI. 
 
Founder of Oyo Rooms, Agarwal, who was chosen for the prestigious Peter Thiel Fellowship aims for Oyo to become the largest technology-enabled network of hotels in the world. 
 
He is also looking to expand its network to 1000 hotels in 25 cities by this year end.

SoftBank says ‘moshi moshi’ to Oyo Rooms

The Indian traveler is more adventurous than believed before. A report by the hotel platform <keyword id="2808667" type="UNKNOWN" weightage="20" keywordseo="OYO">OYO</keyword> analyzed all hotel bookings in 2016 done on its platform. 
 
It confirms that a majority of Indian travelers are increasingly driven by impulse with 61% of all the bookings made on OYO platform were made within 24 hours prior to check-in. 
 
<a href="http://www.businessinsider.in/exclusive-what-moms-want-from-the-budget-2017/articleshow/56872243.cms">ALSO READ: Exclusive: What moms want from the Budget 2017</a> 
 
The research further highlights that despite the last-minute bookings, travelers’ expectations in terms of service, facilities, and experience are pre-determined and non-negotiable. WiFi, Breakfast and Hygienic rooms are the three biggest priorities for guests. 
 
<a href="http://www.businessinsider.in/this-co-working-space-is-tailor-made-for-ai-data-science-iot-startups/articleshow/56874042.cms">ALSO READ: This co-working space is tailor-made for AI, Data science, IoT startups</a> 
 
OYO’s research identified: 
 
● Chennai, Goa, and Gurgaon as the top contributors to hotel-booking via the app. ● <keyword id="57704" type="COMPANY" weightage="20" keywordseo="Shillong">Shillong</keyword>, Coorg, Darjeeling, Vishakhapatnam, and <keyword id="6389278" type="CITY" weightage="20" keywordseo="Munnar">Munnar</keyword> as most popular winter holiday destinations in 2016 ● Paharganj continues to cement its reputation as the go-to spot for backpackers in the nation's capital while <keyword id="6517501" type="CITY" weightage="20" keywordseo="Arambol">Arambol</keyword> is the most affordable locality in Goa despite ranking high on popularity. 
● Impulsively planned trips emerged as the top driver for outstation trips both in business and leisure travel segment. 
 
OYO also identified the most expensive and most affordable localities for budget hotels in top travel destinations. 
 
<a href="http://www.businessinsider.in/take-a-tour-of-oyo-rooms-attractive-new-property-townhouse/articleshow/56781794.cms">ALSO READ: Take a tour of OYO's attractive new property: OYO Townhouse</a> 
 
City- Most Expensive Locality Average tariff (in INR)- Most Affordable Locality Average tariff(in INR) 
 
Ahmedabad -Vastrapur 2023- GIDC Vatva 607 
Bangalore<keyword id="4123464" type="UNKNOWN" weightage="20" keywordseo="-bangalore-airport">- Bangalore Airport</keyword> 2137 - Indiranagar Extension 1181 
Chennai- Vadapalani 3008 - Egmore 770 
Delhi - Pragati Maidan 3800 - Paharganj 1292 
Goa- Candolim 3172- Arambol 2238 
Gurgaon- Manesar 2711- <keyword id="6400808" type="UNKNOWN" weightage="20" keywordseo="Sohna-Road">Sohna Road</keyword> 979 
Hyderabad - Kondapur 2380 - Abids-Nampally 1436 
Jaipur- Amer 1608 - Sindhi Camp 1194 
<keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword> - Ballygunge 2014 - <keyword id="2381550" type="UNKNOWN" weightage="20" keywordseo="Ruby-Hospital-Kolkata">Ruby Hospital Kolkata</keyword> 1324 
Mumbai - <keyword id="6361338" type="COMPANY" weightage="20" keywordseo="south-Mumbai">South Mumbai</keyword> 5276 - Thane 2231

Indian travelers take a lot of
last-minute holidays, according to OYO

“Dogs and Indians are not allowed.” 
 
Set in modern Mumbai, this video poignantly shows you what modern India would be like under British Raj. 
 Oyo Rooms, India’s largest network of hotels, in partnership with <keyword id="3001334" type="ORGANIZATION" weightage="100" keywordseo="Boring-Brands">Boring Brands</keyword> and <keyword id="3001333" type="UNKNOWN" weightage="100" keywordseo="Kreative-Wings-Studio">Kreative Wings Studio</keyword> has unveiled a powerful digital film highlighting what freedom truly means. The film is a tribute to the freedom fighters and invites consumers to join in through the social media movement. “Agar hum azad nahi hote toh shayad kuch aisa hota!” (If we weren’t independent, how would it have been! #Azaadi4me) 
 Bollywood actor <keyword id="15439" type="PERSON" weightage="100" keywordseo="Manoj-Bajpai">Manoj Bajpai</keyword>, one of the protagonists of the film said, “This project is close to my heart; as an artiste to encapsulate such a powerful message in such a short format is both challenging and exciting. It’s a pragmatic film with a strong social message that I believe will force the audience to stop, step back and introspect. It was great to be back on set with Raveena, who remains one of my favourite co-stars till date.” 
 Actress <keyword id="6384030" type="PERSON" weightage="100" keywordseo="Raveena-Tandon">Raveena Tandon</keyword> who features in the digital film too said, “Patriotism as a theme isn’t new to cinema but what stands out about this film is the way the message is conveyed. It’s both heart touching and thought provoking and gives the audience a new perspective on the freedom they enjoy. As a proud Indian, this film serves as a powerful reminder of how lucky we are to be part of an Independent and democratic India.” 
 
Talking about the new campaign, Ritesh Agarwal, founder &amp; ceo of OYO Rooms said, “Personally, this concept resonated with me because as an entrepreneur I am living my dream, something that probably would have been impossible if we didn’t enjoy the freedom that we do.” He further added that poised to be among the developed countries of the world and our generation is lucky to be living at a time where we have the freedom to pursue our dreams. India today is a land of opportunities, poised to be among the developed countries of the world and our generation is lucky to be living at a time where we have the freedom to pursue our dreams. With this video we hope to salute the heroes who gave us the country we are living in today. 
 
 
This shows you how something as quintessential as freedom can completely change your life if it’s taken away from you. Both Raveena Tandon and Manoj Bajpai have delivered performances that stay with you long after the film is over. 
 
(Image credits: BoringBrands)

#Independence Day Special: Manoj Bajpai and Raveena Tandon define what freedom truly
means!

<ul><li>China's push for rental housing startups ended up pushing local rentals through the roof, according to a Wharton University report. </li><li>OYO, <keyword id="2766908" type="PERSON" weightage="20" keywordseo="Nestaway">Nestaway</keyword>, <keyword id="3844186" type="PERSON" weightage="20" keywordseo="CoHo">CoHo</keyword> and <keyword id="136437" type="COMPANY" weightage="20" keywordseo="Lemon-Tree-Hotels">Lemon Tree Hotels</keyword> are working on similar models in India. </li><li>The report recommends mortgage trusts as a solution to keep rents under check and still allow co-living to be a viable business model.</li></ul>India's largest budget hotel chain is ready to kick off it's new venture, Hamstede, where private equity major Warburg Pincus will be a majority shareholder. "The board (of Lemon Tree Hotels) has approved an initial investment of $5 million," Chairman and Managing Director Patanjali Keswani told Business Insider. The company will have a 30% stake in Hamstede. And it's not the only one. A whole host of startups like OYO, CoHo, and Nestaway are growing fast. Consulting firm PwC has pegged the market for urban residential housing at $13.5 billion. Delhi-based CoHo had estimated the <a href="https://yourstory.com/2016/05/coho/" data-type="tilCustomLink" target="_blank">co-living market in India at $10 billion</a> in 2016. The model that Hamstede is built on is derived from the successes of three Chinese companies offering co-living spaces Mofang, Nova, and Zirooms, and another startup based in Hong Kong Weave. Warburg Pincus is an investor all these companies and all these firms played a part in the rental housing boom in China in recent years. The Chinese experience with co-living has an ominous sign for Indian tenants. President Xi Jinping pushed for the rental housing boom <a href="https://www.reuters.com/article/us-china-economy-houseprices-rent-analys/how-chinas-plan-to-develop-rental-housing-backfired-idUSKCN1LU0JA" data-type="tilCustomLink">but it backfired</a>. Despite the increased supply of homes, rents in China’s major cities soared in the double-digits. While the companies' valuations spiked, accommodation became unaffordable for many students and young professionals. In some cities, rents increased by as much as 30% between 2017 and 2018, according to <a href="http://d1c25a6gwz7q5e.cloudfront.net/reports/2019-03-08-E-House-Poly-FINAL.pdf" data-type="tilCustomLink" target="_blank">a study by Wharton University</a> released in March 2019. How co-living business works "Today if you live in Mumbai, and you work in Lower Parel, you cannot afford an apartment there. Your apartment will be in Borivali and travelling two hours one way everyday. I will put up a co-living space very close to Lower Parel but the trade-off is I will give you a far more compact living area, where you spend the night. The common area will be very social, where youngsters can hang in the evening, with a living room and an open kitchen and so on," Lemon Tree Hotels' Chairman Patanjali Keswani said explaining the model to Business Insider. However, in China, the rush build capacity home-owners borrowed heavily and companies bid generously for land parcels. The excess cost was passed on to the tenants, the Wharton study showed-- an important lesson as Indian startups chase the same opportunity. Big money is chasing these new co-living ventures. Not just Warburg Pincus, Tiger Global, and Singapore sovereign wealth fund GIC are all invested in the idea in different countries. As India opens up to co-living, tenants will be looking for affordability, particularly in big cities like Mumbai where rents are already beyond many people's reach. The solution The Wharton study recommends securitisation as a possible solution to keep both the rents and the financial pressure on companies low. Companies can raise money against the rents receivable and distribute the income as as dividends to shareholders. In formal terms, this will be a real estate investment trust. Both Mofang and Zirooms have raised money using this route in China, but retail investors are not allowed to invest in these securities yet, according to the report. If the experiment helps in cooling the Chinese property market, both owned and rental, this can become a new avenue for financing high-cost co-living projects without adding burden on the tenants. An idea Indian companies can borrow too. SEE ALSO: <a href="https://www.businessinsider.in/from-pgs-to-co-living-spaces-how-student-accommodation-is-changing-in-india/articleshow/65201577.cms" data-type="tilCustomLink" target="_blank">From PGs to co-living spaces: How student accommodation is changing in India</a>

China's experience with co-living should be a warning for tenants as well as companies in India

<ul><li><keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword>, chairperson and managing director of <keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword>, said that she is willing to provide free testing kits for <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>.</li><li>Shaw mentioned that she is working with Apollo to figure out how they can provide testing for the deadly virus. </li><li>She is an advisor for Apollo’s Stay I project – where Apollo is building quarantine facilities. </li></ul><keyword id="25931" type="COMPANY" weightage="20" keywordseo="billionaire">Billionaire</keyword> entrepreneur and the founder of Biocon, Kiran Mazumdar Shaw said that her company is willing to provide free testing kits for coronavirus. During a conference call with the media for the launch of Apollo’s Project Stay I – an initiative to make way for 5,000 rooms as quarantine facilities across the country, Shaw mentioned that she is working with Apollo to figure out how they can provide testing for the deadly virus. During the call, Apollo’s joint managing director Sangita Reddy mentioned that Shaw created a WhatsApp group to get the industry leaders together and build solutions for Covid-19. Shaw is an advisor for Apollo’s Stay I project. “There’s a short window of opportunity for us to make a success out of this quarantine. Project Stay I is a very important initiative that is being embarked upon, It needs to be emulated by all the hospitals and hotel chains in the country. This is a step up model. People with mild, asymptomatic, as well as positive can be placed here and only serious cases can go to the ICU,” Shaw said during the call. “We need to be in a state of preparedness,” she said. Apollo has pooled 5000 rooms from Lemon Tree, Ginger and Oyo at a discount. These isolation rooms will be made available with medically supervised beds in Hyderabad, Chennai, Mumbai, Kolkata, Bangalore and Delhi. The project will start with approximately 500 in Bangalore, Chennai, Delhi, Kolkata, Mumbai, going up by 50 rooms every three days. See Also: <a href="https://www.businessinsider.in/india/news/apollo-hospitals-partners-with-oyo-zomato-and-sbi-and-others-to-offer-5000-quarantine-rooms-to-coronavirus-patients/articleshow/74887301.cms">Apollo Hospitals partners with Oyo, Zomato, SBI and others to offer 5,000 quarantine rooms to Coronavirus patients</a>

Billionaire Kiran Mazumdar Shaw says she is willing to provide free testing for coronavirus

<ul><li>After a complete halt during the COVID-19 pandemic, hotels in India are beginning to clock sales and are back on the path to recovery.</li><li>Most of the listed hotels have already shown a gradual quarter-on-quarter growth with their latest results for the October-December quarter of the current financial year.</li><li>The <keyword id="2173225" type="PERSON" weightage="20" keywordseo="travel-and-tourism">travel and tourism</keyword> industry seems to be an elated industry with the news of the COVID-19 vaccine being rolled out across the globe.</li></ul>The stocks of India’s hotel companies have rebounded in the past few months, as several indicators signal a recovery for travel and tourism. After a complete halt during the COVID-19 pandemic, hotels in India are beginning to clock sales and are back on the path to recovery. Here’s how India’s top hotel stocks have fared in the last six months <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in share price in last six months </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IHCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+36.77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+27.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+28.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra Holidays and Resorts </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+40% </td></tr></tbody></table> While most of the stocks are yet to recover to their pre-COVID levels, the recovery in the last few months have been fuelled by various reasons and especially, with the distribution of the COVID-19 vaccines. <cmsannotation type="cmsannotation" annotationid="Vaccine – shot of hope for travel and tourism" comment="subhead" text="Vaccine – shot of hope for travel and tourism">Vaccine – shot of hope for travel and tourism</cmsannotation> The COVID-19 vaccine rollout has started across the globe triggering hopes for people to go on leisure as well as business travel. “While we anticipate a gradual revival in corporate travel, leisure demand is already strong and this traction is expected to further increase in months ahead,” said a report by ICICI Direct dated February 12. <cmsannotation type="cmsannotation" annotationid="Resilience of hotels" comment="subhead" text="Resilience of hotels">Resilience of hotels</cmsannotation> Most of the listed hotels have already shown a gradual quarter-on-quarter growth with their latest results for the October-December quarter of the current financial year. Analysts say this is reflecting in their share price movement. “One is the business recovery, from a complete standstill gradually the businesses have started recovering. Secondly, they have done a good job of cost rationalisation during the pandemic,” Himanshu Shah of Dolat Capital told Business Insider. <div type="image" title="hotels." msid="81032343" hostid="261"></div> Even unlisted companies like OYO Hotels and Homes have seen a recovery in business thanks to “revenge travel”. The term gained popularity in China, after people having been stuck in a lockdown, started travelling within the country, just to get out of their homes. OYO said that during the Valentine’s Day weekend, its online traffic was up by 70% of pre-COVID levels. <cmsannotation type="cmsannotation" annotationid="Premium hotels will be the first to cater to demand" comment="subhead" text="Premium hotels will be the first to cater to demand">Premium hotels will be the first to cater to demand</cmsannotation> The coronavirus pandemic has changed a lot of things, and the most important of them all is our priority towards safety and hygiene. And that’s where premium hotels will have an edge over others as people travel more often. “Most of the listed stocks are premium hotels. Business and leisure travellers will now prefer branded names as they will still be cautious,” Kranthi Bathini, equity strategist at WealthMills Securities told Business Insider. Despite all the disruptions during the pandemic, travel and tourism is set to make a big comeback as Bathini puts it “man is made for mobilisation”. <cmsannotation type="cmsannotation" annotationid="Back on track for business" comment="subhead" text="Back on track for business">Back on track for business</cmsannotation> Hotel companies have also announced that they are now back on track with their plans for new hotels across the country. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New projects already under development or signed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">To be completed by </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Commercial projects at Renaissance Complex, Powai, Mumbai Marriott Complex, Whitefield, Bengaluru </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4FY23 &amp; Q4FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Mountain Resort, Shimla Lemon Tree Vembanad Lake Resort, Alleppey, Kerala Aurika, Intl. Airport, Mumbai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai project to be completed by 2022. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IHCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Signed six new hotels with over 1100 rooms in third quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table> And that may translate into more business for hotels. “Despite investment activity being paused since March 2020, there are emerging signs of re-valuations and a slow demand revival, improvised cost structures and reduced profit levels in the next two years,” said a report by real estate services company JLL. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/info-edge-is-now-worth-almost-10-billion-even-with-its-profits-falling-for-five-quarters-in-a-row/articleshow/80925389.cms">Info Edge is now worth almost $10 billion even with its profits falling for five quarters in a row</a> <a href="https://www.businessinsider.in/science/space/news/from-ambani-adani-to-godrej-indias-treasure-trove-of-satellite-data-goes-beyond-helping-startups/articleshow/80989166.cms">From Ambani, Adani to Godrej — India's treasure trove of satellite data goes beyond helping startups</a>

Indian hotel companies have shown resilience during the pandemic and now the markets are celebrating them

<ul><li>On the occasion of women’s day, <keyword id="10924" type="PERSON" weightage="20" keywordseo="Ambani">Ambani</keyword> has launched a social media and networking platform for women called Her Circle.</li><li>The platform will also connect women to experts across health, wellness, education, entrepreneurship, finance, philanthropy, mentorship and leadership.</li><li>On her own, Ambani runs multiple other ventures that bring her credibility apart from her family name.</li></ul><keyword id="7024" type="PERSON" weightage="20" keywordseo="Nita-Ambani">Nita Ambani</keyword> has another project in hand. The wife of Asia’s richest man Mukesh Ambani has gone on to make her name for herself through her various ventures in education, philanthropy, and of course, cricket. On the occasion of women’s day, Ambani has launched a social media and networking platform for women called Her Circle. According to a statement from the company, Her Circle will be a content, social media and goal fulfilment community. “I am delighted that we can create such a circle of support and solidarity for millions of women through HerCircle.in, a digital platform that invites every woman to join and make her own. With the Digital Revolution enabling 24x7 global networking and collaboration, Her Circle welcomes ideas and initiatives of women from all cultures, communities and countries. We make sisterhood and equality our touchpoints on this platform,” she said in a statement. The platform will also connect women to experts across health, wellness, education, entrepreneurship, finance, philanthropy, mentorship and leadership. But Ambani is not new to pulling the strings in business. While she is not actively involved in the running of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries’ core businesses, Ambani runs multiple other ventures that bring her credibility apart from her family name. Dhirubhai International School Nita Ambani was a school teacher and a dancer before she married Mukesh Ambani. And her love for teaching led her to establish a school in honour of her famous father in law, Dhirubhai Ambani. In 2003, she launched and became the founder and chairperson of Dhirubhai Ambani International School which has two branches in Mumbai. Mumbai Indians Nita Ambani is the co-owner of the Indian Premier League cricket team Mumbai Indians. The team has won the IPL four times and was also the first franchise to cross $100 million in brand value. Ambani is almost always seen at the Mumbai Indian matches, cheering for her team. But she is also involved in managing the team, along with her son Akash. A member of the prestigious Metropolitan Museum of Art In November 2019, Ambani joined New York’s prestigious Metropolitan Museum of Art as an honorary trustee. She will also be a member of The Met's International Council. In 2017, she was honoured by the museum at The Met Winter Party. International Olympic Committee Cricket is not the only sport that Nita Ambani is involved with. In 2017, she was elected as a member of the International Olympic Committee. She is also the founder and chairperson of Football Sports Development, which runs the Indian Super League football tournament. She is also a member of the Olympic Channel, an OTT service which is run by the IOC. <keyword id="6360465" type="ORGANIZATION" weightage="20" keywordseo="reliance-foundation">Reliance Foundation</keyword> Nita Ambani is the chairperson and founder of the philanthropic organisation Reliance Foundation, which is the corporate social responsibility (CSR) arm of the Reliance Industries. In 2019-20, the foundation spent ₹1,022 crore for various initiatives across rural transformation, health, education, sports for development, disaster response, arts, culture and heritage and urban renewal. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-vs-zo-zostel-claims-victory-while-the-ritesh-agarwal-led-firm-says-theres-still-room-to-win/articleshow/81386851.cms">OYO vs Zo – Zostel claims victory while the Ritesh Agarwal-led firm says there’s still room to win</a> <a href="https://www.businessinsider.in/stock-market/news/the-510-crore-ipo-of-easemytrip-is-now-open-for-public-subscription-/articleshow/81387576.cms">Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip</a> <a href="https://www.businessinsider.in/india/news/google-ceo-sundar-pichai-announces-a-series-of-initiatives-on-womens-day/articleshow/81388483.cms">Google announces a series of initiatives on Women’s day – a $25 million fund, support for one million female entrepreneurs in India and a new feature on Google Maps</a>

Nita Ambani’s latest venture is a social media and networking platform for women – here’s a look at the organisations she runs as a part of Asia’s richest family

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