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OYO OPERATING COSTS
Oyo parent PRISM's G6 Hospitality launches 38 new hotels across the USPRISM, the company behind Oyo, has launched 38 Studio 6 extended stay hotels across the United States. This expansion follows PRISM's acqui...- Groww investors reap bumper returns; Lightspeed’s India rethinkHappy Wednesday! Groww delivered strong gains to early investors after the IPO lock-in expired. This and more in today’s ETtech Morning Dis...
- IT cos slash US teams; D2C luggage brands hit turbulenceHappy Thursday! Indian IT firms have begun cutting jobs in their US teams, according to filings. This and more in today's ETtech Morning Di...
- Oyo clocks Rs 30-crore profit in Q3FY24, founder Ritesh Agarwal tells employeesPeople familiar with the matter said Agarwal stated that in the upcoming quarters, it anticipates a consistent rise in PAT, driven by ‘enha...
- Oyo's growth is ahead of schedule, cost controls are better than ever: Steve AlbrechtSteve Albrecht, a non-executive independent director on Oyo's board said in terms of corporate governance, the company is at a 'very profes...
- 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...
- Fitch revises Oyo's outlook to 'positive', affirms ratingsFitch affirmed the ratings on the $660 million senior secured term loan facility due 2026, issued by Oyo's fully owned subsidiary, Oravel S...
- Moody's expects Oyo to generate positive Ebitda for FY24Moody's also said on Monday it has affirmed Oravel Stay Limited’s (Oyo’s) B3 corporate family rating (CFR) as well as the B3 rating of the ...
- Oyo tells employees it expects nearly Rs 800 crore adjusted EBITDA in FY24People familiar with the matter said Agarwal told staffers during the town hall that this can be attributed to 'sustained growth' in India,...
- Expect first full year of Ebitda profitability, Oyo tells employeesThe hospitality chain had reported an adjusted Ebitda of Rs 63 crore in the first half of FY23 (H1FY23) according to previous filings with ...
- Oyo restates losses to Rs 2,140 crore for FY22; files fresh IPO docs with SebiOyo reported a 47% growth in its gross bookings value per hotel in Q1FY23 at Rs 3.25 lakh versus Rs 2.21 lakh for FY22.
- Oyo seeks $600 million loan amid virus surgeThe high-profile startup, the first Indian unicorn to seek debt from foreign institutional investors, targets a loan with a five-year tenure
- Company continued to hold on to close to $ 1 bn cash, tracked to runway very closely: Oyo founder Ritesh Agarwal to employeesAgarwal was talking to employees in India, US, Japan, China and other markets in a 'fireside chat' session alongside board member Troy Alst...
- SoftBank partners with Oyo in Latam in move for more oversightSoftBank said it started the partnership with Oyo in Latin America in 2019 and the investment has been recently formalized with the creatio...
- SoftBank-backed Oyo to offload more loss-making hotels amid pandemic: SourcesThe hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-hal...
- Oyo to end unprofitable contracts as SoftBank sets pre-IPO deadlineThe company runs about 800 hotels under a self-operated business model, where it makes investments and has leasing arrangements with proper...
- Oyo likely to lay off 2,000 people by January endDivisions like sales, supply and operations will account for a chunk of the layoffs, sources said.
- Hotelbeds & Oyo Hotels & Homes announce strategic distribution partnershipOyo will be able to distribute its hotel rooms via the wholesale channel, which operates under the name Hotelbeds name and the retail trave...
- Oyo may soon start planning your wedding, parties with its Auto PartyThe company plans to offer integrated services like banqueting space, catering and decor along with dedicated event planners for clients an...
- Oyo changes business model from aggregation to franchiseThe hotels that were part of the aggregation model have converted into franchises. The shift was mainly to reduce operational costs and imp...
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