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india’s oyo snags $10m strategic investment from hotel giant china lodging

india’s oyo snags $10m strategic investment from hotel giant china lodging News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



india’s oyo snags $10m strategic investment from hotel giant china lodging

indian budget hotel startup oyo pulled in a big $250 million round led by softbank’s vision fund last week, but now it has topped that money up with a $10 million strategic investment from multi-billion dollar hotel management firm china lodging.beyond the financial commitment from nasdaq-listed china lodging — which was formerly known as huazhu hotels and is valued at $6.8 billion — the two companies work together and learn from each other going forward, as opposed to operating some form of joint entity.there’s no specific business agreement in place at this point, instead the duo will “explore initiating knowledge and technology sharing projects of mutual interest.” a press announcement explained that this could constitute employee exchange program, and the sharing of tech and ip. on a more consumer-facing level, oyo and china lodging will consider joint loyalty programs and ways to work together on hotel sourcing and procurement.“we are very excited about this partnership — both in terms of potential opportunities and existing synergies through our complementary strengths and capabilities,” oyo ceo and founder ritesh agarwal said in a statement. “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.”for oyo, that may include learning from a hotel industry ally who operates at scale and in another billion-person market, ch...