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<ul><li>Indian Hotels — the hospitality arm of the <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> that includes the <keyword id="6453087" type="COMPANY" weightage="20" keywordseo="taj-hotels">Taj Hotels</keyword> — is planning to put its properties under sale and lease back.</li><li>Six of the <keyword id="73077" type="PERSON" weightage="20" keywordseo="Ginger-Hotels">Ginger hotels</keyword> are already in line along with other hotels that come under joint ventures or associated companies.</li><li>Indian Hotels is planning on becoming ‘asset light’ as the Indian economy cools off and consumer spending is starting to slow down.</li></ul>Tata Group’s Taj Hotels aren’t going anywhere but some of its more budget offerings — like the Ginger hotel chain — are getting sold off but will be leased right back to them. Indian Hotels, the <a href="https://www.businessinsider.in/inside-taj-mahal-hotels-beautiful-and-luxurious-suites/articleshow/53549610.cms">hospitality arm</a> of the Tata Group that owns and operates the <a href="https://www.businessinsider.in/thelife/culture/the-25-best-hotels-in-india/slidelist/22493456.cms">Taj Hotels</a>, is looking to reduce its ownership of properties to 50% by 2022, as it wants to turn ‘asset light’. It has around 45 properties it owns under the Ginger brand, but wants to shed some weight by offloading 5-10% of the properties, and continue to operate it. 
 
 
 
 <div type="ExtQuote" text="As part of our Aspiration 2022 business strategy we are pursuing an asset light model. In line with this we propose to sell and lease back some of our Ginger properties in non metro towns. We will continue to operate these properties under a management contract after the proposed sale." auname="IHCL Company Spokesperson"></div>







 Retaining flagship properties The Managing Director and CEO of Indian Hotels, Puneet Chhatwal, told <a href="https://news.google.com/articles/CAIiEHD6x-q4b9jaA9jUjpJESRQqGQgEKhAIACoHCAow2pqGCzD954MDMM_yigY?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen">Bloomberg</a><a href="https://theprint.in/economy/tatas-taj-hotel-chain-to-sell-assets-to-trim-debt-as-consumer-spending-slackens/274158/amp/?__twitter_impression=true"> </a>that while the company is looking to reduce its debt by getting rid of some of the <keyword id="507551" type="PERSON" weightage="20" keywordseo="budget-hotels">budget hotels</keyword> in its portfolio — the legacy and flagship properties, namely hotels within the Taj brand, aren’t up for grabs. However, as many as six of the Ginger hotels are already a part of the sale and lease-back plans. What this mean is that Indian Hotels will be selling the properties and then taking them up on rent so that the current management stays in place. This is also true with other hotels that are a part of joint ventures or under associate companies, according to Chhatwal. On the other hand, Indian Hotels also opened up three new hotels in key strategic markets like Goa and Agra as per last quarter’s <a href="https://www.ihcltata.com/investors/">earnings report</a>. It has also launched a new hotel brand called ‘SeleQtions’ to up its brand image. SeleQtions includes named and distinctive hotels as well as Chambers — India’s most iconic business club. Cutting down on debt India’s economy is <a href="https://www.businessinsider.in/indias-growth-will-come-from-cities-as-urban-indians-will-contribute-75-of-it/articleshow/70563586.cms">cooling down</a> and consumer spending is set to fall further, which is why Indian Hotels is looking to lighten its assets. Even, <a href="https://www.businessinsider.in/the-tata-group-has-two-airlines-and-two-more-to-choose-fromair-india-and-jet-airways/articleshow/70129384.cms">Jet Airways</a> going out of business hit the Tata-owned enterprise, forcing the company to write off some of its dues. Indian Hotels has been on the path to reduce its debt for a while. It has gone from ₹31 billion in 2017 to ₹20 billion as of March 2019. Tata Group’s Indian Hotels isn’t the only brand under the umbrella that’s being revamped. Tata Steel and <a href="https://www.businessinsider.in/interesting-facts-about-ratan-tata-favorite-company-tata-motors/articleshow/69970526.cms">Tata Motors</a> are also restructuring their portfolio to gain some headwind in the European markets. Note: The article has been updated to include the statement from IHCL spokesperson to clarify that they will still be operating Ginger hotels and the headline has been changed accordingly. See also: <a href="https://www.businessinsider.in/tata-is-planning-to-open-extreme-fast-fashion-stores-just-like-zara/articleshow/69938341.cms">Cheaper by the dozen: Tata wants to bring Instagram styles to stores, instantly</a> <a href="https://www.businessinsider.in/indiainsider/tata-lic-infosys-sbi-and-mahindra-are-among-the-top-10-indian-corporate-brands/slidelist/70256778.cms">Tata, LIC, Infosys, SBI, and Mahindra are among the top 10 Indian corporate brands</a> <a href="https://www.businessinsider.in/tata-motors-stock-price-falls-after-record-loss-due-to-jlr-troubles-in-china-and-uk/articleshow/67894956.cms">Tata Motors loses over a billion dollars in market value</a>

Taj Hotels wants to turn asset light with its sell-and-lease-back strategy

India is the land of many languages, climates and people. It is the land of beautiful sand, mountains and seas – a reason why many come to visit the country. Tripavisor.com has released a list of <keyword id="2032921" type="UNKNOWN" weightage="60" keywordseo="Top-25-Hotels">Top 25 Hotels</keyword> in the world and three Indian <keyword id="6368036" type="PERSON" weightage="40" keywordseo="Hotels">hotels</keyword> have made it to the list. The list is lead by Grand Hotel Kronenhof of <keyword id="103" type="COUNTRY" weightage="40" keywordseo="Switzerland">Switzerland</keyword> followed by The <keyword id="2032922" type="UNKNOWN" weightage="40" keywordseo="Upper-House-of-Hong-Kong">Upper House of Hong Kong</keyword>. 
 The first Indian hotel, <keyword id="2032920" type="UNKNOWN" weightage="40" keywordseo="Oberois-Udaivilas">Oberois Udaivilas</keyword> in Udaipur comes at number 5. Making it into top 10 is The Oberoi Mumbai. At number 17 we can see the Taj Lake Palace from Udaipur. The list of hotels was released couple of days ago and seems like the voyage website has picked the best hotels with travellers and internal consensus. With three hotels making to the list, it clearly shows that there are plenty who want to travel to the country and want to spend a night or two in beautiful surroundings. 
 
The Indian hotel industry should take this as a clear sign that 2014 could be a promising year for them to get more visitors and these three hotels just could be on top of everyone’s ‘to go to’ list.

3 Indian Hotels Are In The Top 25 List Of World Hotels,
Oberoi Udaivilas Is At Number Five

<ul><li>The 30-share BSE index was trading 296.95 points higher, and the broader NSE Nifty climbed 0.61% on Tuesday at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes hit record highs on Tuesday, led by a rally in banks, airlines and hotel stocks, as investors cheered the progress in the development of a coronavirus vaccine. The 30-share BSE index was trading 296.95 points higher, and the broader NSE Nifty climbed 0.61% on Tuesday at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech M </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj FinServ </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr></tbody></table>*as of November 9, 9:57 am These are the top stocks in news today. Pfizer India shares zoom 19% Pfizer India shares gained over 19% a day after the company announced that <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">its COVID-19 vaccine</a> trial data suggests that its shots prevented more than 90% of symptomatic infection. This indicates the company is on track later this month to file an emergency use application with US regulators. <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">IndiGo</keyword> and <keyword id="6358032" type="CITY" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword> gain on hopes of a COVID vaccine soon Air travel has been one of the hardest hit in the past 10 months, and now the hope of a COVID vaccine soon has brought a rally in the shares of the listed airline companies. IndiGo was trading 6% higher, whereas SpiceJet was up 4%. Inox Leisure trades 4% higher The shares of cinema giant Inox Leisure gained over 4% after it launched its qualified institutional placement (QIP) at ₹263.1 per share. The floor price is set at a 1.42% discount to Monday’s closing price. <keyword id="193491" type="CITY" weightage="20" keywordseo="JK-Cement">JK Cement</keyword> hits 52-week high; trades 4% higher The shares of JK Cement gained over 4%, hitting the 52-week high on the back of strong Q2 results. The company reported an almost three-fold jump in consolidated net profit to ₹221.55 crore for the second quarter ended September 30. <keyword id="1912283" type="COMPANY" weightage="20" keywordseo="Lemon-Tree-hotel">Lemon Tree Hotel</keyword>, <keyword id="6399185" type="UNKNOWN" weightage="20" keywordseo="indian-hotels">Indian Hotels</keyword>, EIH and other hospitality stocks rally Lemon Tree Hotel, Indian Hotels, EIH and other hospitality stocks rallied after positive COVID vaccine news. Lemon Tree Hotel was trading 6% higher, Indian Hotels was up 8%, and EIH gained 5%, during the early trading hours on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/politics/india/news/checkout-here-bihar-assembly-election-2020-results-and-updates-online/articleshow/79142084.cms" data-type="tilCustomLink">Bihar Election Results 2020: Counting of votes begin, early trends indicate the Grand Alliance edging ahead of the JDU</a> <a href="https://www.businessinsider.in/tech/news/google-will-be-probed-by-indias-competition-commission-for-allegedly-abusing-dominance-to-push-gpay/articleshow/79141895.cms" data-type="tilCustomLink">Google will be probed by India’s Competition Commission for allegedly ‘abusing dominance’ to push its payments app</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">Pfizer’s COVID-19 vaccine is 90% effective in preventing coronavirus in those who haven’t been infected ever before, shows data from latest trials</a>

Top stock movers — Pfizer, Tech Mahindra, HCL Tech, TCS, Infosys, IndiGo, SpiceJet, JK Cement, Lemon Tree Hotel, Indian Hotels, and others

PVR, Indian Hotels, banks and other hot stocks to watch out for on December 30

<ul><li>Oyo launches a SOS button for its consumers. </li><li>The unicorn startup also has a trained Oyo Safety Response Team. </li><li>With a pilot project in Gurugram currently, the service will soon be available across 25 cities in India.</li></ul>Indian unicorn hospitality startup <keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword> has <a href="https://www.dnaindia.com/technology/report-oyo-launches-industry-first-in-app-sos-button-here-is-how-the-feature-works-2728644">launched </a>a SOS button for its users. The in-app SOS button will help users staying in Oyo hotels or partnership hotels to alert authorities during an emergency situation. The hospitality chain has also trained a 24x7 OYO Safety Response Team (SRT) which will be able to help consumers. The app will also initiate a call with local law enforcement authorities if the situation arises. A pilot of the SOS button has already been launched with Gurugram and will soon be made available in 25 cities. With increasing number of women and solo travellers in the country, the feature has been long due. “We believe that this will enable guests especially women and solo travellers to feel secure further encouraging travellers to travel to and within India," <a href="https://www.dnaindia.com/technology/report-oyo-launches-industry-first-in-app-sos-button-here-is-how-the-feature-works-2728644">said</a> Aditya Ghosh, CEO - India and South Asia, OYO Hotels and Homes. Oyo, which is the largest hotel chain in South Asia, aims to be the world’s biggest hotel chain. “We will have one million rooms inventory into our fold in the near distant future. I think, it should happen in a year and a half,” Ghosh had told the news agency PTI on January 15. The company had recently raised $100 million from China’s ride-hailing <a href="https://inc42.com/buzz/chinas-didi-chuxing-invests-in-oyo-brings-billion-dollar-funding-round-to-a-close/">company</a> Didi Chuxing, in continuation with the $1 billion fund Oyo was raising. Oyo’s valuation stays at $5 billion. 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-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/solo-travel-in-india-rises/articleshow/67936872.cms">More Indians are travelling solo than ever before</a>

Oyo's new SOS button promises to make Indian hotels safer

<ul><li>Indian hotel aggregator <keyword id="2870818" type="PERSON" weightage="20" keywordseo="FabHotels">FabHotels</keyword> is raising ₹540 million from <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, according to the filings sourced by paper.vc. </li><li>FabHotels was launched by Adarsh Manpuria in 2014, just a year after OYO. </li><li>The hotel chain falls in budget hotel range.</li></ul>FabHotels, the Indian hospitality chain, is reportedly raising funds worth ₹540 million in a round led by Goldman Sachs, according to the filings sourced by paper.vc. The hospitality chain which mainly works on a franchisee model, has its presence in over 40 Indian cities with more than 500 <keyword id="6368036" type="UNKNOWN" weightage="20" keywordseo="hotels">hotels</keyword>. The service which falls under budget hotels, competes with the likes of Indian hospitality unicorn <keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword>, and Treebo Hotels. "There appears to be a renewed interest in this sector and we believe that's a good thing. Oyo is over-capitalized for India and appears to be, for all practical purposes, focussed on China,” said paper.vc founder Vivek Durai. FabHotels was launched by Adarsh Manpuria in 2014, just a year after OYO had come into being. The funding comes at the right time as according to <a href="https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/fabhotels-plans-to-double-inventory-by-2019/articleshow/67063277.cms">reports</a>, FabHotels was looking to expand its reach and double its inventory to 20,000 rooms, by 2019. The hotel chain last raised a funding of $25 million in Series B round led by Goldman Sachs, and also saw participation from its existing investors Accel Partners. There were also reports that Treebo Hotels and FabHotels were holding early talks regarding a merger. See Also: <a href="https://www.businessinsider.in/oyo-acquires-amsterdam-based-leisure-group-from-axel-springer-for-415-million/articleshow/69138768.cms">OYO's $415 million acquisition of Amsterdam-based holiday home chain part of plan to become the world's largest hotel company</a> <a href="https://www.businessinsider.in/china-coliving-increased-rents-and-indian-startups-like-nestaway-coho-and-lemon-tree-hotels-hamstede-should-be-wary-of-it/articleshow/68668281.cms">China's experience with co-living should be a warning for tenants as well as companies in India</a>

FabHotels could take on OYO with a new investment

Businesswomen are one of the fastest-growing traveller segments. Keeping this in mind, hotel chains across India are putting in extra effort to attract women business travellers. 
 <keyword id="166964" type="COMPANY" weightage="100" keywordseo="ITC-Hotels">ITC Hotels</keyword> were the first to come up with the concept of Eva rooms exclusively for women travellers in the 1990s. The concept has now evolved from being just a single-room category at ITC Maurya in New Delhi to a dedicated wing and floor in ITC Hotels across the country. Earlier this year, ITC Maratha in Mumbai overhauled the women-only floor to incorporate new design elements. 
 "The endeavour is aimed at going beyond the expected and ordinary to cater to the 'unspoken needs' of this segment," said Dipak Haksar, chief operating officer, ITC Hotels. The hotel chain's upcoming property – <keyword id="2517854" type="UNKNOWN" weightage="100" keywordseo="ITC-Grand-Bharat">ITC Grand Bharat</keyword> at Manesar near Gurgaon – has special packages on golf, yoga, spa and beauty treatments. 
 
Even other hotel chains are now adopting the trend of women-only floors and bringing in newer and customised services for this segment. "Travel packages for women have been there for years and it's the same everywhere. But those can't work anymore as the female travellers have evolved and their needs are changing," says Louis Sailer, general manager of The Leela Palace, New Delhi. 
 
Hotels are focusing more on this segment as women travellers tend to spend more and indulge in quality lifestyle amenities like spas, beauty treatments, health and wellness. 
Image: Thinkstock

Indian Hotels Put In Extra Effort
To Woo Women Business Travellers

(Photo Source: .stuartfreedman.com) <ul><li><keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s income tax department is reportedly going to examine the books of all the restaurants and hotels that do not disclose additional income through the service charge they bill to customers </li><li>Service charge imposed by eateries on consumers and not shared with staff will be liable for income tax. </li><li>Most of the restaurants do not even ask consumers whether they want to pay service charge or share the fact that it is optional. </li></ul>Many restaurants and hotels in India have been earning an additional income on behalf of their serving staff through the optional ‘service charge’ category billed to customers. Now, India’s income tax authorities want to make sure that establishments that don’t disclose that extra income are penalised. The Central Board of Direct Taxes has instructed its officers to investigate the books of all the restaurants that are collecting a service charge from customers. The restaurants will have to pay heavy taxes for under reporting or non reporting of service charge receipts <a href="https://indianexpress.com/article/business/banking-and-finance/i-t-prepares-to-check-if-hotels-are-handing-over-service-charge-to-their-staff-5460269/">Indian Express </a>reported. In case the restaurant is imposing a service charge they will have to fully disclose the receipt in their books as a part of their turnover. The CBDT will levy a heavy income tax in case such entities fail to show the additional income. The decision came after India’s Ministry of Consumer Affairs found that some hotels and restaurants were misusing the service charge to fill their pockets. They were neither sharing the income meant as gratuity for their staff nor were they disclosing it in their books accurately. In fact, many restaurants have decided a rate to paid by customers without even taking their consent in advance, The Indian Express reported. Last year, service charge has been made optional for customers and restaurants are required to inform their patrons of the same.

India’s income tax officials may penalise restaurants who fail to disclose service charge to staff

<div class="KonaFilter image-container display-table"><div><div class="image on-image">OyoOyo founder Ritesh Agarwal.</div></div></div><ul class="summary-list"><li>Indian hotel marketplace Oyo has expanded into the UK. It aims to partner with budget British hotels to standardising their decor and service.</li><li>Oyo offers a marketplace of mostly budget hotel rooms via its app, hoping to create a level of standardisation of service and decor at low-cost hotels.</li><li>The company was founded by 24-year-old Indian entrepreneur Ritesh Agarwal, and has raised $450 million to date from investors such as SoftBank's Vision Fund, Lightspeed, and Sequoia.</li></ul>Indian startup Oyo has launched in the UK to try and raise the standards of budget hotels across the country.The UK is Oyo's first market outside of Asia, where it has racked up a network of more than 200,000 rooms across India, Malaysia, China, and Nepal.The startup has appointed Coco di Mama cofounder, Jeremy Warner, to run its British business, and plans to invest £40 million ($53 million) in the UK.The startup will become available in 10 cities over the next 18 months, and already has several hotels in its launch city of London.Oyo is like a mix of Airbnb and WeWork. The premise in the UK is that Oyo takes unloved budget hotels, brings them into its franchise under the Oyo brand, and then renovates them to a particular standard.The startup promises to take the management load off independent hotel owners, and to boost their bookings. It takes a cut from room bookings, and benefits from adding to its huge network of rooms around the world.The upside for hotel customers is that they can travel to a particular city and expect a consistent type of decor and service from an Oyo hotel.The startup already has a physical presence in London and is targeting a mix of locations in the city. It has one "townhouse" in Paddington and another in Ilford, an unglamorous location in east London.Customers can book rooms through the Oyo app, or through third-party aggregators like Booking.com.<div class="KonaFilter image-container display-table"><div><div class="image on-image">OyoAn Oyo Townhouse in Paddington.</div></div></div>Oyo has generated major hype in its home market, not least because of its youthful founder, 24-year-old Ritesh Agarwal, who bases himself Gurgaon, on the outskirts of Delhi, India.While at university, Agarwal won $100,000 from the Thiel Fellowship, a grant for budding entrepreneurs that requires them to drop out of college. He has raised $450 million to date from top-tier backers including Sequoia, Lightspeed, Greenoak, and SoftBank's Vision Fund.The company is <a href="https://www.livemint.com/Companies/8XRYZKfISaOL0KDql7SVxJ/Oyo-in-talks-to-raise-up-to-800-million-in-fresh-funding.html">rumoured by the Indian media</a> to be in the process of raising a further $800 million to $1 billion, at a valuation of $4 billion, although Agarwal was tight-lipped about this in a call with Business Insider."We continually get inbounds," he said. "There is no specific view on capital raising right now."He added that Oyo wasn't a particularly capital-intensive business and had a "healthy balance sheet," though he didn't provide further financial detail.Agarwal bills Oyo as a way to rejuvenate struggling local hotels and, by extension, their neighbourhoods. The messaging <a href="http://uk.businessinsider.com/success-story-of-wework-2017-9/#wework-founders-adam-neumann-and-miguel-mckelvey-met-where-else-at-the-office-1">has echoes of WeWork founder Adam Neumann</a>, another SoftBank entrepreneur who regularly draws on the importance of "community."Agarwal said: "If you think about London, every [area] had its own neighbourhood hotel, a butcher's... these are all slowly disappearing in the face of big businesses showing up. Oyo's goal is to try and keep the originality of the neighbourhood hotel while upgrading them with great quality design and customer service."At the same time," he added. "[Hotel] owners see significantly more return when franchised or leased by us. That's the principle we've taken." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/apple-iphone-xs-max-xr-event-wrap-up-2018-9">Apple's entire iPhone XS event in 8 minutes</a></h3> <div> </div> </div>

You Searched For "indian hotels" and got 9 results

Taj Hotels wants to turn asset light with its sell-and-lease-back strategy

Prabhjote Gill

3 Indian Hotels Are In The Top 25 List Of World Hotels, Oberoi Udaivilas Is At Number Five

Sulabh Puri

Top stock movers — Pfizer, Tech Mahindra, HCL Tech, TCS, Infosys, IndiGo, SpiceJet, JK Cement, Lemon Tree Hotel, Indian Hotels, and others

Navdeep Yadav

PVR, Indian Hotels, banks and other hot stocks to watch out for on December 30

Rounak Jain

Oyo's new SOS button promises to make Indian hotels safer

Sanchita Dash

FabHotels could take on OYO with a new investment

Sanchita Dash

Indian Hotels Put In Extra Effort To Woo Women Business Travellers

BI India Bureau

India’s income tax officials may penalise restaurants who fail to disclose service charge to staff

BI India Bureau

This SoftBank-funded startup was founded by a 24-year-old to glam up budget hotels, and it's just launched in the UK

Shona Ghosh

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