Airbnb Will Invest Up to $200 Million in India’s Budget Hotel Chain Oyo
1 April 2019 5:16 AM GMT
Airbnb has confirmed an investment in Oyo Hotels & Homes? Series E round, although it would not disclose the amount or terms of investment. A source Airbnb confirms investment in Oyo
- Airbnb Will Invest Up to $200 Million in India's Budget Hotel Chain Oyo
- Airbnb has confirmed an investment in Oyo Hotels & Homes' Series E round, although it would not disclose the amount or terms of investment.
- Greg Greeley, Airbnb's president of homes, said in a statement, " Emerging markets like India and China are some of Airbnb's fastest-growing , with our growth increasingly powered by tourism to and from these markets.
- Oyo has done tremendously well in a very short time span to capture market share and is a big win for Airbnb to show growth before its proposed impending public market offering," said Manav Thadani, founder chairman of hotel consulting company, Hotelivate.
- In fact, Airbnb has been making some aggressive moves lately to expand its lodging offerings beyond home rentals for tourists, as with its HotelTonight acquisition, he said.
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