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OYO Gets $10 Mn From Chinese Hotel Franchisor China Lodging Group

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14.09.2017

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Just a week after raising $250 Mn in a Series D funding round led by SoftBank, budget hotel booking marketplace OYO has raised $10 Mn from China Lodging Group Limited.

The Gurugram-based hotel marketplace has signed a MoU with China Lodging Group to facilitate and strengthen collaboration to build a global hospitality business. The investment is a part of the partnership and is a follow-on to OYO’s $250 Mn round.

Ritesh Agarwal, Founder & CEO – OYO said, “Addressing consumers in India and China – two of the world’s fastest-growing markets – through our combined strengths opens up a very large and significant growth opportunity.”

OYO recently announced its financial results for the years 2015-2017. However, as per the recently disclosed statement, the company claims to have........

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