OYO Hotels is laying off thousands of employees in India and China after Japanese giant SoftBank tightened its noose around it. Ritesh Agarwal-led Indian hospitality unicorn Oyo is currently the second top unicorn after Paytm and valued at nearly $10 billion in the country.
Income Tax officials carried out a search at OYO headquarter in Gurugram on Thursday. OYO has claimed that it was a routine TDS survey. Hospitality major's office in sector 69 Gurugram was searched by the officials in the first half of Thursday.
Oyo Hotels is firing hundreds of employees across India for non-performance, a report in Bloomberg said. The report also said that thousands of employees across China and India will lose jobs in as pressure mounts on one of world's most successful start-up stories.
While they were drinking alcohol, a quarrel ensued between them over a petty issue on Monday night following which he hit the woman on her throat and she lost consciousness, said Gaurav Sharma, Deputy Commissioner of Police (Outer North).
"We have all the 6 brands from the OYO portfolio in Bihar currently - OYO Rooms, OYO Townhouse, SilverKey, Collection O, Capital O, Palette Resorts. In the coming year, we aim to strengthen these partnerships and support the states vision while continuously creating and delivering outstanding opportunities for business growth, fostering all- round socio-economic development for the State and its people", he added.
On the day of the incident, the boy was taking bath and suddenly his roommate heard a shout. He and the hotel staff entered the bathroom from the ventilation window, as the door was locked from inside, and they found the victim unconscious.
As part of a Series-F funding, RA Hospitality Holdings will infuse approximately USD 700 million as primary capital in the company.
In an official statement, the government minority body said, "This is a serious offence of discrimination against a lawful customer."According to media reports, an OYO-affiliated hotel in Jasola Vihar allegedly denied room to a Kashmiri youth over his identity, the statement said.
Hospitality firm OYO on Friday said its founder Ritesh Agarwal has signed a deal to buy back shares worth USD 2 billion (nearly Rs 13,770 crore) from early investors through his Cayman islands-registered entity, RA Hospitality Holdings, to almost triple his stake in the company.
The company will invest USD 50 million over the next few years in Vietnam and create 1,500 direct and indirect jobs in the country, OYO said in a statement.
Indian start-ups like Ola and Oyo, which have been on an expansion mode in the UK, are among some of the key names on the shortlist for the UK-India Awards this year.
The company has identified corporate travel segment as a key engine of growth for the year and has stepped up engagement in this segment.
The idea is to further deepen and widen presence across the home country while focusing on aggressive capacity building, the company said.
Indian consumer Electronics Company on Thursday announced a partnership with hotel brand OYO to provide customers of its devices a 'seamless booking experience' as well as exclusive deals. Micromax users will be able to avail
Oyo Rooms, the hotel aggregator, is coming up with their new ‘relationship mode’ that allows unmarried couples to book rooms in some of their properties.
Hotel aggregator giant Oyo Rooms is soon to close the $90-million (Rs 600 crore) financing round by Japanese conglomerate SoftBank Corp. Ritesh Agarwal-led company has already received $61 million (Rs 407 crore) and is
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