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India's dark horse hotelier Oyo to invest USD600 million in China

2019/7/18 16:08:02
India's Oravel Stays, which operates the Oyo Hotels & Homes accommodation chain has now has USD1.5 billion in assets and it is committed to diverting 40 percent of these funds towards China, the six-year-old unicorn announced today, Beijing Business Today reported.

Of its USD600 million investments in China, USD100 million will go to recruitment, customer experience, quality and systemic improvements to promote Oyo's further growth, said a company insider, per the report, though the hospitality firm did not relate what the rest will be used for.

This is not the first time Oyo, which is based in Gurgaon, in Haryana state, just outside New Delhi and which also does business under the name Oyo Rooms, has pledged to pump some serious cash into China, where it became the largest hotel chain last month, Business Insider reported.

When SoftBank, Sequoia Capital and Lightspeed Ventures jointly invested USD1 billion in Oyo in its series E funding in September the firm committed over 50 percent of proceeds to help grow its China business.

After another USD800 million flowed in from SoftBank, the hotel chain also palmed USD100 million from Chinese ride-hailer Didi Chuxing in a symbiotic relationship, since the two sectors target the same user base and are thus mutually reinforcing, Zhao Huanyan, chief knowledge officer at Shenzhen Huamei Restaurant Management Consulting, told National Business Daily.
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酒店位于杭州钱江新城南岸CBD核心位置,地处城市商业、文化、购物、金融中心地段。紧连机场高速、直通杭州庆春隧道。 【前往酒店】: 距离萧山国际机场18公里,乘坐出租车约25分钟;或乘坐机场大巴至开发区管委会下车步行100米可达酒店。(温馨提示:尊敬的客人,近期因机场高速封道改建,由机场到酒店乘车时间约45分钟。酒店提供免费接机服务,需要免费接机的客人需提供担保。当天晚上18:00后不可取消) 距离杭州火车城站12公里,乘坐出租车约30分钟;或坐地铁1号线至滨康路站出站换乘出租车(10分钟)可达酒店。 距离杭州火车东站15公里,乘坐出租车约35分钟;或坐地铁1号线至滨康路站出站换乘出租车(10分钟)可达酒店。 距离杭州火车南站(扩建中)5公里,乘坐出租车约10分钟 距离杭州客运中心站15公里,乘坐出租车约25分钟 距离杭州西湖12公里,乘坐出租车约30分钟 距离杭州大厦19公里,乘坐出租车约40分钟 【酒店周边信息】: 万象城:路程10公里,乘坐出租车约15分钟。 砂之船:路程13公里,乘坐出租车约25分钟。 LSE城市生活广场:路程4公里,乘坐出租车约13分钟。 银隆百货:路程3公里,乘坐出租车约10分钟。 湘湖4A景区:路程6公里,乘坐出租车约15分钟。

所属商业区:萧山城区及周边
酒店区域:萧山区
酒店地址:中国 · 浙江省 · 杭州 · 萧山区 · 萧山区市心北路108号(步行1分钟至地铁2号线建设三路站)

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杭州雷迪森铂丽大饭店地址:浙江省 · 杭州 · 萧山区 · 萧山区市心北路108号(步行1分钟至地铁2号线建设三路站) 

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