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OYO COVID SUPPORT
OYO opening new hotel in Rajasthan every 2-3 days; to set up back office for overseas biz: CEO Ritesh AgarwalOYO is rapidly expanding in Rajasthan, adding a new hotel every few days and establishing a back office to support its international operat...- Oyo elevates Rakesh Kumar as CFOOyo announced the promotion of Rakesh Kumar to the position of Chief Financial Officer (CFO). Currently serving as Deputy CFO, Kumar has be...
- Fitch revises outlook on Oyo's IDRs to positive from stableFitch said it has also affirmed the rating on the $660 million senior secured term loan facility due 2026, issued by Oyo's fully owned subs...
- OYO founder Ritesh Agarwal hopes for the removal of 12% GST on hotel rooms in Budget 2023Ritesh Agarwal, the founder of OYO Hotels & Homes, anticipates that the 12% GST on hotel rooms costing less than Rs 1,000 should be elimina...
- FHRAI urges SEBI to reject Oyo IPO citing irregularitiesFHRAI had previously raised concerns about significant inaccuracies and inadequate disclosures in Oyo's Draft Red Herring Prospectus (DRHP).
- Oyo joins startup IPO rush to raise $1.2 billion, seeks Sebi nodSoftBank, founder Ritesh Agarwal to remain promoters after public offering; More than 90% of OFS is from the Japanese investor; Company rev...
- Oyo is raising a loan that’s seen as a precursor to listingOyo Rooms is in the process of raising around Rs 4,400 crore from a bunch of international investors through a Term Loan B (TLB) issuance, ...
- Oyo to pay 8 months’ salary as part of Covid-19 bereavement supportOyo wants to do more not just for its employees, but also for the “extended Oyo family”, Oyo Rooms CEO Ritesh Agarwal says.
- Covid-19: Leading hotel chains offer rooms to care for sickHotel chains such as Indian Hotels, ITC Hotels, Oyo, Lemon Tree, Trident and Sarovar Hotels have tied up with hospitals and worked out elab...
- GiveIndia, OYO Care start fundraiser to provide shelter for Covid-19 patientsThrough this initiative, GiveIndia will begin with opening doors to three dedicated OYO Care properties as quarantine centers with meals in...
- FHRAI says close to 100 hoteliers encountered issues with Oyo post Covid-19, supports FIROyo calls FIR and allegations frivolous and baseless, but says its committed to resolving hotelier disputes amicably and welcomes ecosystem...
- Senior executives quit Oyo, company extends furloughs for some employeesFor its employees on the leave with limited benefits plan, Oyo said it is offering a cash benefit equivalent to their notice pay basis last...
- Oyo India offers voluntary separation or leave extension to employeesThe company said that for those who opt for VSP, the company will provide benefits such as financial assistance, relaxation on ESOP vesting...
- FICCI and Oyo launch online certification course for hospitality industryOyo said the course will focus on redesigning the sanitisation protocols and minimising person-to-person contact for hotels in line with th...
- Oyo witnessing green shoots in India: Ritesh Agarwal, founder, Oyo Hotels & HomesIn China occupancies continue to grow steadily and are in the mid-forties. Given the fluid Covid situation, any talk of bounceback needs ad...
- Oyo announces ESOPs for all furloughed employees impacted by Covid-19Oyo is also actively working with the company's investors to identify opportunities in their portfolio companies and help its employees wit...
- Oyo announces pay cuts, leave with limited benefits options for India staffOyo did not specify how many employees will be put on leave with limited benefits for four months in India but sources familiar with the ma...
- Oyo suspends payments to hotels; Partners say clause not in contractOyo stated in the letter that since hotel revenues have dwindled and are unlikely to improve in the next few months it is constrained to ex...
- Covid-19: Oyo chief to forgo remaining annual salaryThe company's entire executive leadership team has taken a voluntary pay cut starting at 25 per cent, with many opting for an additional un...
- Covid-19: Oyo sends letter to vendor partners, warns of disruption in payment cyclesThe letter written by Ankit Agarwal, head of Oyo's procurement and supply chain states that the hospitality industry is critically dependan...
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