Recent events
Recent events tied to this brand in public sources.
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2019
OYO denies allegations in hotelier's complaint
After a Bengaluru hotelier filed an FIR naming OYO CEO Ritesh Agarwal and six OYO employees over alleged criminal breach of trust and fraud, OYO denied the complaint's claims and said it considered the matter a regular commercial dispute. The allegations are not established as proven in the source.
2019
Oyo launches hotel operations in Japan
Oyo's Japanese arm launched operations across more than 100 hotels in Japan through a joint venture with SoftBank; the partnership said it opened hotels in more than 50 Japanese cities on Thursday, October 24, 2019.
2019
Oyo announces a $1.5 billion funding round
Oyo Hotels & Homes was raising $1.5 billion from founder Ritesh Agarwal and other investors led by SoftBank. The article said the funds would support expansion in the United States and strengthen its vacation-rentals business in Europe.
2019
Indian hoteliers protest Oyo fee increases
Indian hotel operators complained that Oyo had increased fees, including charges they said were not initially disclosed, and several hotel groups organized protests. Oyo denied failing to disclose applicable contract changes.
2019
OYO and Biz2Credit announce financing partnership
OYO announced a partnership with Biz2Credit to provide working capital and commercial real estate loans to existing and potential hotel partners. The partnership is set to start in the US market and includes mutual client referrals.
2019
Oyo and SoftBank establish two joint ventures in India
Oyo and an entity controlled by SoftBank established two joint ventures in India: Mountainia Developers and Hospitality, and MyPreferred Transformation and Hospitality.