Oyo in Talks to Raise up to $90 Million
Skift Take
Oyo is seeking to raise $80-$90 million from InCred's family offices at a reduced valuation to pay off debt and refile for an IPO.
STR reported Chinese hotel data for the week ended May 18. Hotel RevPAR in China was down -7.1% year over year. The performance was up against a tough +93.8% comp the year before. Occupancy was down -1% for the week.
Trip.com reported a better than 100% year-on-year increase in outbound hotel and air bookings and a better than 20% increase in domestic bookings in 1Q24, showing the recovery of China's travel. While we look at it as the comp being the first three months of the removal of Zero Covid, so the comp was not difficult, Trip.com said the rise was facilitated by a more stabilized supply and further relaxation of visa requirements.
Macau visitor arrivals were up 14.4% year on year in April to 2,600,717. That was 75.8% of the arrivals recorded during April 2019. The April results included 1,349,927 same-day visitors, up 23%, and 1,250,790 overnight visitors, up 6.3%. Visitors from mainland China grew by 25.3
