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<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

<ul><li><keyword id="7355473" type="UNKNOWN" weightage="20" keywordseo="OYO-Life">OYO Life</keyword> has partnered with <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword> and <keyword id="8149820" type="UNKNOWN" weightage="20" keywordseo="plaksha-university">Plaksha University</keyword> to manage over 500 beds. </li><li>The pricing starts at ₹6,500 and goes up to ₹12,999 per bed. </li><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> Life was launched in 2018 and is present in 4 cities – Delhi, NCR, Pune and Bangalore. </li></ul>OYO Life, a subsidiary of OYO Hotel and Homes, announced that it is expanding into <keyword id="4372526" type="PERSON" weightage="20" keywordseo="student-housing">student housing</keyword> segment. It also partnered with IIT Delhi and Plaksha University to manage over 500 beds. “The demand for fully furnished, fully maintained, internet-ready accommodations and innovative services has increased manifold. We are confident that our growing presence in the student housing segment will enable us to scale 100K beds by 2019-end,” said Rohit Kapoor, CEO, New Real Estate Businesses, OYO. Oyo claims to provide students with amenities such as surveillance and security, Wi-Fi and food.The prices start at ₹6,500 and goes up to ₹12,999 per bed, per month. OYO Life launched in 2018 and is present in these cities – Delhi and NCR, Pune and Bangalore. They operate over 30,000 beds. The competition in the student housing segment is heating up. Recently, home rental startup Nestaway too said that it will enter the segment. Stanza Living is another player who has been catering to this segment for the last two years. According to a report released today by Student Accommodation Provider Association of India (SAPFI) and CBRE, the student housing sector will attract as much as $700 million investment and add 600,000 beds by 2023.

OYO enters the student housing segment, partners with IIT Delhi and Plaksha University

<ul><li>Paytm now offers hotel booking with its acquisition of NightStay. </li><li>Earlier in January, Paytm had announced its entry into food delivery. </li><li>It already operates in the ticketing business with Paytm Movies, e-commerce sector with Paytm Mall.</li></ul>Paytm is one of the frontrunners of Indian startups and a leader in the digital payments in India. But it’s also competing head-on with almost every other business in the e-commerce space. In the last one month, the company has entered two new major segments – hotel booking and food delivery. On January 30, Paytm announced the acquisition of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-enters-hotel-booking-business-buys-nightstay/articleshow/67748857.cms">NightStay</a>, a four-year platform which helps users book hotel rooms and offers last minute deals. While MakeMyTrip and Oyo Rooms have been dominating the <keyword id="864750" type="PERSON" weightage="20" keywordseo="Hotel-bookings">hotel bookings</keyword> space, the recent acquisition of NightStay will help Paytm become a one-stop shop for its over 230 million users and the potential ones. Paytm already competes with MakeMyTrip in offering flight and train tickets. Vijay Shekhar Sharma took on BookMyShow when Paytm started selling movie tickets in 2016. <a href="https://techcircle.vccircle.com/2018/10/30/kept-on-its-toes-by-paytm-bookmyshow-slips-deeper-into-the-red-in-fy18">BookMyShow</a> revenue growth dropped to 27% in 2016-17 from 85% a year earlier. Earlier in January, Paytm had also announced its<a href="https://www.businesstoday.in/technology/news/paytm-joins-hands-with-zomato-to-offer-in-app-food-delivery-service/story/310921.html"> partnership</a> with foodtech unicorn Zomato to enter the food delivery segment and take on rival Swiggy. With the Paytm Mall, the company has a foot in online retail- from apparels and accessories to electronics, footwear, and fitness equipments to name a few. However, its success has been limited. Even with massive cashbacks and discounts, Paytm Mall had not been able to make an impact yet with reports reflecting that the company’s losses went up by <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytms-parent-company-one97-communications-widens-net-loss-to-rs-1490-4-cr/articleshow/66402994.cms">270%</a> last year mainly because of its e-retail arm. The <keyword id="1705292" type="PERSON" weightage="20" keywordseo="Indian-e-commerce">Indian e-commerce</keyword> segment is already crowded with Amazon and Walmart fighting it out, and now, Reliance Industries also planning to enter the market. While there were rumours of the company planning to scale down its e-commerce operations, founder Vijay Shekhar Sharma had told <a href="https://economictimes.indiatimes.com/industry/services/retail/paytm-has-no-plans-to-leave-mall-business-vijay-shekhar-sharma/articleshow/67681312.cms">ET</a> that “it has no plans to leave the mall business”. See Also: <a href="https://www.businessinsider.in/amazon-walmart-owned-flipkart-set-back-by-new-e-commerce-rules-that-help-mukesh-ambanis-reliance-retail/articleshow/67751026.cms">Mukesh Ambani may be the surprising winner from India's new rules hurting Amazon and Walmart</a> <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">India’s new e-commerce policy has rivals Flipkart and Amazon teaming up to counter the new directive — and the ‘Republic Day’ sale will probably be their last</a> <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a>

Paytm is competing with almost everyone in Indian e-commerce

<ul><li>OYO Hotel &amp; <keyword id="8016838" type="UNKNOWN" weightage="20" keywordseo="casino-in-las-vegas">Casino in Las Vegas</keyword> will have 657 rooms. </li><li>The property was earlier a <keyword id="8016837" type="UNKNOWN" weightage="20" keywordseo="hooters-casino-hotel">Hooters Casino Hotel</keyword>. </li><li>Earlier in June, OYO has announced its decision to invest $300 million in the US.</li></ul>Indian hospitality unicorn OYO has opened a 35,000 square-foot casino in Las Vegas. Called OYO Hotel &amp; Casino, the property will have 657 rooms across nineteen floors. Interestingly, the hotel was earlier the Hooters Casino Hotel. “Earlier in June, we announced our plan to invest $300 million in the US. With our newest hotel in Las Vegas, we are excited to cater to a completely different audience segment and are certain that this will be the perfect start to OYO’s journey in Las Vegas,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Founder &amp; CEO, <keyword id="4964826" type="PERSON" weightage="20" keywordseo="OYO-hotels">OYO Hotels</keyword> &amp; Homes. OYO partnered with Highgate which will take over the management of the hotel. Highgate is a premier hospitality investment and management company. Meanwhile, the casino will be managed by Paragon Gaming. The $5 billion company is already the largest network of hotels and rooms in South Asia, and is the second largest in China. Now, it is looking to enter big markets like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US, with 350 employees. It is currently present in cities like Dallas, Houston, Augusta, Atlanta and Miami.

OYO opens a 35,000 sft casino in Las Vegas by rebranding a Hooters hotel

Twenty one year old <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> is on cloud nine. His company, <keyword id="2550719" type="UNKNOWN" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword> has recently raised Rs 150 crore funding from its investors, Lightspeed, Sequoia, Greenoaks Capital and DSG Consumer Partners. 
	 
	“This would be one of our largest capital raises for us,” said Agarwal. 
	 Founded in 2013, OYO Rooms revolves around the concept of making budget hotel experience customer friendly. This segment has remained fragmented and disorganized for long time. “When I was 18, I travelled across the country and stayed at more than 100 <keyword id="507551" type="UNKNOWN" weightage="20" keywordseo="budget-hotels">budget hotels</keyword>. This journey led me to realize how difficult it was to get a pleasant and reliable consumer experience in these hotels. So, in a quest to make affordable ‘real’, I started OYO Rooms. Our vision is to offer the ‘OYO Rooms experience’ to every business, leisure and pilgrim traveler across 100 cities through a network of 10,000 hotels,” he averred. 
	 He further added, “We act like the Ola (<keyword id="6362049" type="UNKNOWN" weightage="20" keywordseo="Ola-Cabs">Ola cabs</keyword>) for hotels where we go to fragmented segment of private hotels. We tie up with them and brand them as OYO Rooms. Thus, these budget hotels can deliver the customers a much better experience. We call ourselves a branded budget hotel website.” 
	 
	Explaining the business model of the company, Agarwal noted that company facilitates technology enabled hotels in the country. “We have built a very high quality, compatibility playbook wherein by entering information about the hotel, the owner’s background and other such details, we can check our compatibility with these hotels. This process helps us select only those hotels that we feel are best for our consumers in terms of location, customer experience, infrastructure among others,” he stated. 
	 
	The company has a robust technology system in place. OYO Rooms have an hotel manager application which allows the company to know about a customer’s check-ins and check outs of the hotel. “So, we have an app through which I can know what time did a customer check-in and what time he ordered for room service. Besides, we also ensure that the entire process of check-outs is simplified as our technology enables us to send the invoice directly to the customer’s mobile. All this has helped us increase the occupancy rate of the hotel to nearly 85%,” elaborated Agarwal. 
	 
	The company also carries out audits of its properties on regular basis through another application to ensure that the standard of customer experience is maintained. The application enables the firm to see the condition of a room in real time. And if there are more than three negative customer feedbacks about a hotel, the firm shuts it down temporarily. 
	 
	Talking about the challenges in this business, Agarwal recalled that the biggest difficulty was getting hotels onboard. “We realized that the key things that hotel owners really care about are – occupancy, pilferage and customer experience. So, once they understand how OYO caters to these needs, they come onboard,” he said. 
	 
	Image: Official website of the company

India’s Air BnB just raised Rs 150cr and
there’s more to come!

News Corp-backed real estate classifieds portal <keyword id="1960231" type="COMPANY" weightage="20" keywordseo="Housing-com">Housing.com</keyword> on Monday announced its entry in co-living segment, and has tied up with <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> and <keyword id="2366577" type="PERSON" weightage="20" keywordseo="zolo">Zolo</keyword> as well as unorganised players for listing around 5 lakh beds on its platform. Housing.com, part of Singapore-based Elara Technologies that also owns PropTiger.com and Makaan, also released a report on co-living which highlighted that the market size of this segment is estimated to double at Rs 2 lakh crore by 2023. "We are entering into co-living segment which is a big growth area. We have launched an exclusive section for co-living on our Housing.com. As of now, it will work as search and discovery platform, but direct bookings on our platform will be enabled later," Housing.com CEO Dhruv Agarwala told reporters here. 
 Housing.com, which is also backed by Softbank, Accel and SAIF Partners, has tied up with OYO Life and Zolo to promote their co-living spaces on its platform. 
 At present, the classifieds platform has around 5 lakh beds across major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Pune, Hyderabad, Ahmedabad and Chandigarh, Agarwala said . 
 Out of the 5 lakh beds, around 50,000 beds are from OYO and Zolo. 
 "We plan to scale up this listing to a million beds by the end of 2020," he said. 
 Asked about revenue model, Agarwala said it could be through advertising and the co-living segment would become a significant revenue generator for Housing.com in coming years. 
 "The way in which the concept of co-working is changing how traditional commercial work spaces operate in India, co-living is transforming traditional renting. The change is driven by a highly mobile millennial workforce and a growing student population with a new mindset," Agarwala said. 
 Recently, US-based News Corp and its Australian group firm REA made fresh investment of around USD 70 million (Rs 500 crore) in Elara Technologies, sources had said. 
 With this fresh funding, Elara has raised USD 175 million (about Rs 1,250 crore) so far from investors.
 Elara Technologies first set up PropTiger.com in 2011 and then acquired Makaan.com in May 2015.
 In a major consolidation in the Indian online real estate business, Elara acquired Housing.com in January 2017, a start-up founded in 2012 by around a dozen IIT graduates.
 While PropTiger helps developers in selling flats available in the primary market, Makaan.com largely deals in buy-sell of re-sale properties.
 Housing.com is a classified platform for developers, brokers and homeowners with over one million listings. 
 Elara has 23 offices across India and 1,800 employees. MJH RVK

NewsCorp owned Housing.com partners with Oyo and Zolo

Hotel aggregator <a href="http://www.businessinsider.in/searchresult.cms?query=Oyo+Rooms&amp;sortorder=effectivedate">Oyo Rooms</a> is in talks with <a href="http://www.businessinsider.in/searchresult.cms?query=SoftBank&amp;sortorder=effectivedate">SoftBank</a> to raise about $300-500 million in what could be the biggest financing in <a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">startups</a> since November 2015. A successful fund raise may value <keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">Oyo Rooms</keyword> at $1.2 billion and propel it into the unicorn club where <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> are present. 
 Existing and new investors may take part in the fundraising round, where <keyword id="2808667" type="UNKNOWN" weightage="100" keywordseo="OYO">Oyo</keyword> is getting a pre-money valuation of $700-750 million, an official with knowledge of the developments told ET. 
 The funding from the Masayoshi Son-led company will come through <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> Vision Fund — $100 billion fund which has investments from Saudi Arabia’s sovereign wealth fund and Apple. 
 The funding will help Oyo further expand its network of 7,000 <keyword id="6368036" type="PERSON" weightage="100" keywordseo="Hotels">hotels</keyword> and 70,000 rooms in 200 Indian cities. Key to expansion plans will be its new initiative called Townhouse, which targets the mid-premium segment as compared budget segment for Oyo Rooms. The startup is taking properties on lease in order to control customer experience in Townhouse Properties, four of which have already opened in Delhi and Gurgaon area. 
 
According to a source, Oyo is looking forward to introduce 200-250 Townhouse properties across the country by end of the year. The company has also started international expansion, first with Malaysia and will expand to other geographies. 
 
The large capital infusion will give Oyo Rooms the muscle to compete with rivals like the Makemytrip-Ibibo combine as well as counter newer threats from overseas players like Priceline-owned Bookings.com, said investors tracking the space.

Oyo Rooms likely to raise up to $500 million funds from SoftBank

There’s a game setter in every business, one that makes a rather low-key entry but its sudden insight and innovations completely transforms the rules of the game. Everyone else then has to follow its rules otherwise they may cease to exist. It wouldn’t be going too far if we say <keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">OYO Rooms</keyword> may become that game setter for the Indian <keyword id="68179" type="UNKNOWN" weightage="100" keywordseo="Hospitality-industry">hospitality industry</keyword> in the times to come. 
 After having tied up with <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, <keyword id="143842" type="UNKNOWN" weightage="100" keywordseo="Mobikwik">MobiKwik</keyword> and <keyword id="830092" type="COMPANY" weightage="100" keywordseo="Zomato">Zomato</keyword> to solve basic problems of travel, payment and food, the company is now busy finding ways to do away with check-in formalities and time-consuming manual check-out procedures – two tedious processes each and every Indian customer has to go through at every hotel in the country. The idea is to ensure easy walk-ins and walk-outs for a hassle-free experience. 
 <keyword id="1670338" type="PERSON" weightage="100" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, the 21-year-old CEO of the OYO Rooms who has already inspired one whole generation of youth with his start-up, says he wants that his customers savor luxury, service and comfort of staying at a hotel but also feel at home at the same time. It’s not possible, however, by adhering to the conventional ways of running the hotel business, he feels. 
 
“Showing your ID while entering or doing a manual check-out when leaving – are these the things you do at home? No. If I have them in hotels, how will you feel at home during your stay then?” asks Ritesh. But the question is how is OYO planning to ease the process of payments? 
 
Via tech-based initiatives is Mr Agarwal’s answer! 
 
So for example, the company has seamlessly integrated the MobiKwik wallet into the OYO app. “It facilitates one tap payment. It’s like checking-out of a hotel without the need of stopping to pay,” says Ritesh, adding that such valued partnerships are helping him in maximizing the consumer experience as well as making OYO services better. 
 
For that matter, even his partnerships with OLA and Zomato have helped him in a similar way – finding transport to OYO properties and making the nearest food options accessible to the customers. Both being basic needs of OYO customers that needed to be addressed. 
 
So, OYO's strategy is simple – identifying the pain points first and rather intelligently (which many in the game have failed to see or perhaps ignored) and immediately addressing them by providing the customer easy on-the-go options. 
 
Even though the budget hotel aggregator has no plans of foraying into other sectors as of now, with the launch of OYO WE it is definitely trying to diversify within the sector. 
 
The idea of WE was born after OYO, Ritesh says, was flooded with queries from customers asking if there were any women specific properties. 
 
Realizing that there was a demand for it, he was quick to launch WE in January this year. “It met with tremendous response and excellent feedback from the women guests. Now, we want to provide more women with a comfortable zone which gives them their privacy and space,” says Ritesh. 
 
Notably, WE has all women staff, a toiletry kit customized for women, on-call beauty parlor services and a special selection of books. Currently, there are three WE properties in Gurgaon, Delhi and Noida. The plan is to have fifteen WE properties across 10 cities by the end of this year. 
 
That’s not all. Talks are also on between OYO and Maharashtra Tourism Development Corporation for bringing in occupants for MTDC's unsold rooms in resorts. The deal may be sealed under a revenue-share agreement model. 
 
“It’s a great opportunity and will enable us to bring our experience of operation and sales to a large number of properties. Also, through this partnership we will gain access to running some of Maharashtra’s favorite hotels, and we can’t be more thrilled about it. We are still in the process of finalizing things with them,” says Ritesh. 
 
So much on OYO's future plans. 
 
For now, it has announced offers keeping in mind the upcoming festive season. It’s running a flat 30% off pan India, for check-in/check-out till 31 October. (Coupon Code: OYOS30); a flat 50% off on OYO’s select premium properties, Pan India on properties above 2000 INR (Code: PR50). Those heading to Goa during the peak season (October, November and December), there's good news as the company is giving 30% discount across all its properties there. (Code: GOA30). 
 
As the demand graph for OYO Rooms goes up among customers as well as hotels, it plans to expand to 150 cities and to have 50,000 rooms in the country by the end of the year. The bigger aspiration, however, is to be present everywhere in India while focusing on transforming the sector on its way. 
 
Hospitality industry, are you listening? Watch out! If nothing else, this new kid on the block definitely poses a huge threat to your conventional ways of running the business. You might want to think about that.

Exclusive: OYO Rooms’ CEO says soon staying at OYO hotels will be like staying at luxurious homes! Easy walk-in, easy walk-out

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> has announced a Joint Venture with <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> Corp and Softbank Vision fund to launch <keyword id="7496028" type="UNKNOWN" weightage="20" keywordseo="Oyo-Hotels-Japan">Oyo Hotels Japan</keyword>. </li><li>Softbank has been an investor in OYO since 2018.</li><li>OYO had recently announced its funding from Airbnb as well.</li></ul>Indian hospitality <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> OYO has announced its partnership with Japan-based SoftBank Corp and the SoftBank Vision fund to expand its business in Japan. The new venture called Oyo Hotels Japan will be led by Prasun Chaudhary, one of OYO's founding members. OYO had recently announced its housing rental service in Japan called Oyo Life. The company’s official statement said that their business in Japan would “empower small and independent asset owners in Japan with its rapid transformation capabilities and integrated hotel / ryokan management system powered by advanced AI technology.” Softbank has been a loyal supporter of OYO. The Japanese investment firm has been one of OYO's investors since 2015. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. OYO which had expanded its business in China in 2017 had already made China one of its biggest markets. Now, with its entry into Japan it aims to get closer to its dream of being the <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">world’s biggest hotel chain.</a> “OYO is already the most preferred brand in the budget to mid-segment hospitality space in several global markets, where our operational expertise in revenue management, and distribution, through both offline and online channels, has helped us gain significant momentum,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Group CEO &amp; Founder, OYO Hotels &amp; Homes. OYO had recently announced a strategic investment from global giant Airbnb. See Also: <a href="https://www.businessinsider.in/home-renting-giant-airbnb-invests-in-indian-unicorn-oyo-rooms/articleshow/68670636.cms">Airbnb picks up a stake in its Indian rival Oyo Rooms</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <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>

OYO partners with Softbank to create a joint venture for its Japan business

New Delhi, Jan 28 () Hospitality firm OYO on Tuesday said its corporate channel has witnessed an 80 per cent increase in revenue on a year-on-year basis on account of strong growth trajectory in corporate bookings.
 The company currently has a total of over 8,400 active corporate accounts, OYO said in a statement.
 The company's corporate channel contributes over 30 per cent to the total revenues of OYO, it added. 
 The revenue of corporate channel for the calendar year 2019 stood at Rs 459 crore, OYO said.
 "The corporate travel segment is a key engine of growth for us and we are seeing strong demand for our standardised and affordable offerings from business travellers across India," OYO Hotels &amp; Homes India &amp; South Asia COO Gaurav Ajmera said.
 The company welcomed over 4,000 new corporations in 2019 and their trust in the brand is a testament to the value OYO is creating for its corporate customers, he added.
 "As part of our continuous efforts to strengthen the corporate portfolio, we are working to customise our offerings as per their requirements both in terms of in-room amenities or technology and service-based solutions," Ajmera said. AKT RUJ
RUJ

OYO adds over 4,000 corporate accounts in 2019

<a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a> is going to lead the $250 million funding round of <a href="http://www.businessinsider.in/searchresult.cms?query=oyo+rooms&amp;sortorder=effectivedate">Oyo Rooms</a>, which will take the online hotel booking platform’s valuation to $850 million. ET reported the size of <keyword id="2550719" type="UNKNOWN" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword>’ latest <a href="http://www.businessinsider.in/searchresult.cms?query=funding&amp;sortorder=effectivedate">funding</a> round is half of the $500 million proposed by <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>. After the fresh round of funding, SoftBank will have 42% ownership. "Seeing what has played out at <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, many early investors are wary of SoftBank taking large ownerships in their portfolio companies. But Oyo hasn't been able to shore up capital from external investors, which is why they have opted for half of what was committed by SoftBank," a person privy to the transaction told ET on the condition of anonymity. The investment in Oyo will come through the newly launched $100-billion SoftBank Vision Fund, which is eyeing opportunities in technology ventures globally. A SoftBank spokesperson told ET, "We do not comment on portfolio companies and especially around fund-raising efforts. We are very happy with Oyo's progress in general and commend the team." Oyo may still be trying to get an external investor to come into this round, a source told ET. The hotel aggregation segment in India has gone through consolidation post a slug of capital coming into companies like Oyo and the Tiger Global-backed Zo Rooms, which shut down last year.

Oyo Rooms’ valuation to touch $850 million, this will be the size of its funding

<keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">OYO Rooms</keyword>, a top name in budget hotels aggregator industry, has always made it a point to offer their customers the best options for making their experience comfortable. It has now decided to pilot a food technology venture as well as an on-demand housekeeping service. 
 The company plans to combine the kitchens of the hotels listed under its belt, and the food would be sold under the name of <keyword id="3137676" type="UNKNOWN" weightage="100" keywordseo="OYO-Cafe">OYO Cafe</keyword>. 
 "As in any food business, we noticed that our partner hotels' kitchen have excess inventory," Maninder Gulati, head of strategy and corporate development at <keyword id="2808667" type="UNKNOWN" weightage="100" keywordseo="OYO">OYO</keyword> told ET. "So, the idea is, if we can utilise that and use food tech platforms like Zomato or Swiggy to distribute that food then that's a revenue generation potential for our partner." 
 The company also plans to dabble into on-demand housekeeping services venture, with the name <keyword id="3138076" type="UNKNOWN" weightage="100" keywordseo="oyo-care">OYO Care</keyword>. "That is an on-demand cleaning service. Our area managers can facilitate cleanup for a room as and when a customer needs it," said Gulati. 
 In the past two years, the Gurgaon-based company has gained a lot of popularity, and has become a top name in the industry. In August, OYO raised $100 million in a round led by SoftBank, and since then, it has spread its assets to 30,000 rooms in 130 Indian cities and towns. Its competitors include <keyword id="2825269" type="UNKNOWN" weightage="100" keywordseo="Zo-Rooms">ZO Rooms</keyword>, <keyword id="2913812" type="UNKNOWN" weightage="100" keywordseo="Treebo-Hotels">Treebo Hotels</keyword>, <keyword id="2870818" type="UNKNOWN" weightage="100" keywordseo="FabHotels">Fabhotels</keyword>, <keyword id="2937565" type="UNKNOWN" weightage="100" keywordseo="Wudstay">Wudstay</keyword>, <keyword id="2882211" type="UNKNOWN" weightage="100" keywordseo="Zen-Rooms">Zen Rooms</keyword>, <keyword id="2902711" type="UNKNOWN" weightage="100" keywordseo="ZiP-Rooms">Zip Rooms</keyword>, <keyword id="3007241" type="UNKNOWN" weightage="100" keywordseo="Vista-Rooms">Vista Rooms</keyword> and <keyword id="3138078" type="UNKNOWN" weightage="100" keywordseo="RoomOnCall">RoomOnCall</keyword>. 
 
<a href="https://www.facebook.com/oyorooms/photos/a.1449401045295515.1073741825.1449392448629708/1681617255407225/?type=3&amp;theater">Image source</a>

OYO Rooms knows the way to the customer’s heart
is through his stomach!

<ul><li>OYO, which already has 50 hotels in the US, has invested $300 million to expand its presence. </li><li>It will soon enter New York, Los Angeles and San Francisco.</li><li>Softbank founder Masayoshi Son, who is one of the biggest backers of the startup, has said that OYO will be able to achieve its aim of being the world’s largest hotel network.</li></ul>Indian hospitality unicorn OYO is investing as much as $300 million to expand its footprint in the United States. The $5 billion company is already the largest network of hotels and rooms in South Asia, and the second largest in China. Now, it is looking to enter big markets like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US, with 350 employees. It is currently present in cities like Dallas, Houston, Augusta, Atlanta and Miami. “We are convinced there is unlimited potential for rapid growth in our newest home market, the United States,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Founder &amp; CEO of OYO. With its expansion in the US, OYO claims it has already created 1000 jobs. The six-year old startup has been eyeing international growth for over two years. OYO expanded its business in China in 2017, and it has paid off. China is now one of its biggest markets. These aggressive growth plans support OYO’s ambition 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. It is <a href="https://inc42.com/buzz/hospitality-unicorn-oyo-may-raise-1-bn-to-turn-decacorn/">reportedly</a> in talks to raise $1 billion to reach a valuation of $10 billion. And in this quest for global expansion, the company has the backing of big investors like the Japanese investment bank Softbank as well as Airbnb, which used to be a competitor in the hospitality until April 2019 when the Silicon Valley star decided to invest in OYO. Now, OYO is looking to spread its wings in the US which is one of the biggest markets for Airbnb. In a general shareholders meeting, SoftBank founder Masayoshi Son <a href="https://www.business-standard.com/article/companies/oyo-may-become-largest-hotel-network-in-the-world-softbank-s-masayoshi-son-119062000123_1.html">said</a> that OYO will soon become the world’s largest hotel network. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. In April 2019, it announced a partnership with Japan-based SoftBank Corp and the SoftBank Vision fund expansion in the country. It runs housing rental service called OYO Life in Japan currently. See Also: <a href="https://www.businessinsider.in/home-renting-giant-airbnb-invests-in-indian-unicorn-oyo-rooms/articleshow/68670636.cms">Airbnb picks up a stake in its Indian rival Oyo Rooms</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <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>

You Searched For "Oyo enters food segment" and got 13 results

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Oyo Rooms’ valuation to touch $850 million, this will be the size of its funding

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OYO Rooms knows the way to the customer’s heart is through his stomach!

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OYO is making a march to the top US cities with $300 million and blessings from Softbank and Airbnb

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