Online aggregator of branded hotels OYO has received Rs 413.1 crore in a fresh round of funding from its existing investor Japan-based SoftBank Group.
How would OYO use fresh funds?
- Implement new customer experience initiatives and build technology products.
- Expand its new initiative 'OYO Flagship'
OYO currently has over 6,500 hotels on its network in 213 cities across the country.
2.3 million booked room-night transactions in the first quarter of 2016.
Business & Revenue Model
OYO makes a profit on every room sold. As of May 2016, the average booking rates of the rooms range from Rs 1,400 to 1,800.