OYO Rooms

OYO raises $660 mn through its maiden TLB funding from leading institutional investors, Oversubscribed 1.7 times

Retrieved on: 
Friday, July 16, 2021

The offer was oversubscribed by 1.7 times and the company received commitments of close to $1 bn from leading institutional investors.

Key Points: 
  • The offer was oversubscribed by 1.7 times and the company received commitments of close to $1 bn from leading institutional investors.
  • OYO is the first Indian startup to be publicly rated by Moody's and Fitch, two of the leading international rating agencies.
  • Commenting on the financing, Abhishek Gupta, Group Chief Financial Officer, OYO, said "We are delighted by the response to OYO's maiden TLB capital raise that was oversubscribed by leading global institutional investors.
  • These products include CO-OYO, OYO OS, OYO YO!, OYO Tariff Manager, OYO Secure, OYO Wizard, and the consumer-facing OYO App, among others.

OYO UK hotels go live on Sabre's SynXis platform to grow reach and focus recovery

Retrieved on: 
Monday, March 8, 2021

More than 80 OYO hotels in the UK, representing more than 2,500 rooms, are now connected to all major GDSs through Sabre's advanced hospitality solutions.

Key Points: 
  • More than 80 OYO hotels in the UK, representing more than 2,500 rooms, are now connected to all major GDSs through Sabre's advanced hospitality solutions.
  • The intention is to make further UK OYO properties available to book via Sabre's SynXis Platform, as the portfolio continues to grow and as more hotels reopen following lockdown restrictions.
  • About OYO Hotels & Homes: Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, is today the world's leading chain of hotels, homes, and spaces.
  • OYO today operates in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Middle East, Southeast Asia, and Japan.

OYO Announces The Launch Of Its Partner Prosperity Campaign

Retrieved on: 
Wednesday, February 17, 2021

DALLAS and SAN FRANCISCO, Feb. 17, 2021 /PRNewswire/ --OYO, the leading technology and revenue growth brand for owners and operators of hotels and homes, today announced its Partner Prosperity campaign in the US.

Key Points: 
  • DALLAS and SAN FRANCISCO, Feb. 17, 2021 /PRNewswire/ --OYO, the leading technology and revenue growth brand for owners and operators of hotels and homes, today announced its Partner Prosperity campaign in the US.
  • With a focus on directly addressing its asset partners' feedback and requests, OYO will launch technology-based tools and features each month through July 2021.
  • Smart Pricing V2, which will be available to all OYO partners byMarch 1, is designed with updates that solve for OYO partner's top request: more flexibility and control.
  • We take the feedback of our partners seriously and the Partner Prosperity campaign is just one example of our commitment to their long-term success.

SmartHop Continues Expansion with Two Key Hires

Retrieved on: 
Tuesday, September 29, 2020

SmartHop, an innovative technology company built by experienced trucking professionals thats solving the industrys most perplexing problems, announced two new key hires: Juan Pablo (JP) Restrepo, general manager and Jeff Ogren, head of marketing.

Key Points: 
  • SmartHop, an innovative technology company built by experienced trucking professionals thats solving the industrys most perplexing problems, announced two new key hires: Juan Pablo (JP) Restrepo, general manager and Jeff Ogren, head of marketing.
  • The announcement comes as the company continues its expansion following a $4M seed round led by Equal Ventures in July.
  • SmartHop has grown rapidly since its debut in February to meet rising demands driven by spot market expansion.
  • Before joining SmartHop, JP led the expansion of the Indian startup OYO Rooms in Florida.

OYO Hotels reiterates its commitment to the US; Elevates Kasra Moshkani to lead business as it shows stable signs of recovery

Retrieved on: 
Thursday, September 10, 2020

In over a year, OYO has established its footprint across 37 states in the US with 300+ hotels and nearly 20,000 rooms.

Key Points: 
  • In over a year, OYO has established its footprint across 37 states in the US with 300+ hotels and nearly 20,000 rooms.
  • It also operates OYO Hotel & Casino in Las Vegas and OYO Hotel Times Square in New York.
  • Moshkani's appointment comes as a positive move as OYO reiterates its commitment to the US hospitality industry and chalks its path to recovery in the coming months.
  • A native of Miami, Kasra is an alumnus of Harvard University and The University of Chicago Booth School of Business.

OYO Hotels & Homes announces the Appointment of Dr. W. Steve Albrecht as Non-Executive Director on the Board

Retrieved on: 
Tuesday, June 9, 2020

SAN FRANCISCO, June 9, 2020 /PRNewswire/ -- OYO Hotels & Homes today announced the appointment of Dr. W. Steve Albrecht as non-executive director on the company's Board of Directors.

Key Points: 
  • SAN FRANCISCO, June 9, 2020 /PRNewswire/ -- OYO Hotels & Homes today announced the appointment of Dr. W. Steve Albrecht as non-executive director on the company's Board of Directors.
  • Mr. Albrecht is a former president of the American Accounting Association and the Association of Certified Fraud Examiners.
  • "We are delighted to welcome Steve to OYO's board of directors," said Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes.
  • Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, today is the world's leading chain of hotels and homes.

OYO Hotels & Homes Announces the Appointment of Troy Alstead as Independent Member of the Board

Retrieved on: 
Friday, May 1, 2020

OYO Hotels & Homes today announced the appointment of Troy Alstead as an independent member of the companys board of directors.

Key Points: 
  • OYO Hotels & Homes today announced the appointment of Troy Alstead as an independent member of the companys board of directors.
  • View the full release here: https://www.businesswire.com/news/home/20200501005407/en/
    OYO Hotels & Homes Announces the Appointment of Troy Alstead as Independent Member of the Board (Photo: Business Wire)
    As an independent member of the Board, Troy will play a supervisory role and provide guidance to the Founder and the management on key business decisions.
  • He is also on the Board of Topgolf Group Ltd, Harley-Davidson Inc, and Levi Strauss & Co.
    We are delighted to welcome Troy to OYOs board of directors, said Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes.
  • Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, today is the worlds leading chain of hotels and homes.

Ritesh Agarwal, Founder & Group CEO, OYO to forego 100% of his annual salary, and the executive leadership team to take voluntary salary cuts

Retrieved on: 
Thursday, April 2, 2020

In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year.

Key Points: 
  • In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year.
  • This would be effective April 2020 and the entire company is standing together to tide over these times.
  • Commenting on the development, Ritesh Agarwal,Founder&GroupCEOsaid,"The current situation the world over is deeply concerning to each and every one of us.
  • I am grateful to my leadership team, that have also taken pay cuts and support the company during these tough times.

Ritesh Agarwal, Founder & Group CEO, OYO to Forego 100% of His Annual Salary, and the Executive Leadership Team to Take Voluntary Salary Cuts

Retrieved on: 
Thursday, April 2, 2020

In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year.

Key Points: 
  • In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year.
  • This would be effective April 2020 and the entire company is standing together to tide over these times.
  • Commenting on the development, Ritesh Agarwal, Founder & Group CEO said, The current situation the world over is deeply concerning to each and every one of us.
  • I am grateful to my leadership team, that have also taken pay cuts and support the company during these tough times.

OYO Hotels & Homes Offers Free Stays to Medical Personnel Fighting the Spread of COVID-19

Retrieved on: 
Tuesday, March 24, 2020

OYO Hotels & Homes is opening the doors to its hotels and offering free stays to doctors, nurses and other medical first responders who are helping in the fight against Coronavirus (Covid-19).

Key Points: 
  • OYO Hotels & Homes is opening the doors to its hotels and offering free stays to doctors, nurses and other medical first responders who are helping in the fight against Coronavirus (Covid-19).
  • All of us at OYO are grateful for the bravery and sacrifices all the medical personnel are making to save lives and stop the spread of Covid-19, said Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes.
  • To all the medical personnel fighting this disease on the front lines, we welcome you and we cant be grateful enough, concluded Agarwal.
  • ABOUT OYO HOTELS & HOMES:
    Opening our doors in 2013, OYO Hotels & Homes, a young hotel startup, today is the worlds leading chain of hotels and homes.