OYO Grows in Rajasthan and Sets Overseas Operations Hub in Jaipur
Skift Take
OYO is rapidly expanding in Rajasthan, setting up a back office in Jaipur to support U.S. and European operations, with daily bookings of 1 lakh customers in India and overseas.
Fosun Tourism Group announced plans to buy around $300 million worth of shares at a 95% premium to where the stock had been trading. The stock had been halted since November 26th. Fosun will buy back all the shares not currently held by their group entities and then will delist from the HK Exchange. When shares were halted the stock had been trading at a -77% discount from its peak in 2019, down -31% in the past year.
OYO said it's onboarding a new hotel every 2-3 days in Rajasthan, India, and plans to set up a back office in the state to support its overseas business. OYO's CEO said Jaipur will become the backbone of the company's operations in the U.S. and Europe. He believes around 1 lakh customers book its hotels every day across India and around the same number of customers stay in its hotels every day overseas as well.
Accor announced the debut of the 25hours Hotel brand in Jakarta, Indonesia, with the opening of 25h
