Travel

Oyo’s $1 Billion Fundraising Raises Strategy Questions for Hotel Chains

Samyukta Lakshmi  / Bloomberg

Shown here is Ritesh Agarwal, Oyo founder and CEO, in Bengaluru, India, in September 2018. Oyo, which claims to be South Asia’s largest hotel chain, said it has raised $1 billion in funding. Samyukta Lakshmi / Bloomberg

Skift Take: Hotel groups may be tempted to dismiss Oyo as a company focused on budget travelers. But Oyo is growing faster than you can say “Softbank,” the name of its most important funder. Procrastinating foreign brands risk playing a game of catch-up.

— Sean O’Neill

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