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India's dark horse hotelier Oyo to invest USD600 million in China

2019/7/18 16:08:02
India's Oravel Stays, which operates the Oyo Hotels & Homes accommodation chain has now has USD1.5 billion in assets and it is committed to diverting 40 percent of these funds towards China, the six-year-old unicorn announced today, Beijing Business Today reported.

Of its USD600 million investments in China, USD100 million will go to recruitment, customer experience, quality and systemic improvements to promote Oyo's further growth, said a company insider, per the report, though the hospitality firm did not relate what the rest will be used for.

This is not the first time Oyo, which is based in Gurgaon, in Haryana state, just outside New Delhi and which also does business under the name Oyo Rooms, has pledged to pump some serious cash into China, where it became the largest hotel chain last month, Business Insider reported.

When SoftBank, Sequoia Capital and Lightspeed Ventures jointly invested USD1 billion in Oyo in its series E funding in September the firm committed over 50 percent of proceeds to help grow its China business.

After another USD800 million flowed in from SoftBank, the hotel chain also palmed USD100 million from Chinese ride-hailer Didi Chuxing in a symbiotic relationship, since the two sectors target the same user base and are thus mutually reinforcing, Zhao Huanyan, chief knowledge officer at Shenzhen Huamei Restaurant Management Consulting, told National Business Daily.
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酒店位于长江和嘉陵江交汇处的渝中区中山三路与体育路交汇处,是商务旅行及休闲娱乐的理想场所。酒店距两路口轨道交通换乘中心仅3分钟,距解放碑商圈和观音桥商圈仅4公里,无论您选择乘坐出租车或地铁,都能在瞬息间从安静舒适的酒店去到热闹繁华的市中区。酒店距离江北国际机场约25公里,仅需35分钟车程,且轻轨三号线1小时直达。
- 距离地铁1号线、轻轨3号线两路口站1号口约350米
- 距离重庆火车站(菜园坝)约700米
- 距离重庆火车北站(龙头寺)约10公里
- 距离重庆江北国际机场约25公里

所属商业区:上清寺/人民广场
酒店区域:渝中区
酒店地址:中国 · 重庆市 · 重庆 · 渝中区 · 渝中区中山三路139号,人民广场地区,近大田湾体育中心