As Softbank's Oyo booms, some Indian hotels cry foul and check out

As Softbank's Oyo booms, some Indian hotels cry foul and check outIndia’s Oyo Hotels and Homes shot out of nowhere to become one of the world’s largest hotel chains with a simple promise of “hassle-free” online booking, transparent pricing and cheerful lodging. The backlash against Oyo – while limited to a small share of the more than 10,000 hotel owners in India who work with it – comes at a crucial time for an emerging-market unicorn valued at $ 10 billion and its major investor. Softbank, which has invested nearly $ 1 billion in Oyo, through its Vision Fund, is struggling to raise funding for a second investment fund in the wake of the failed offering of office-rental company WeWork and amid questions about the path to profitability of other marquee investments like Uber .. Oyo has not yet turned a profit.



Yahoo Finance

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