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Oyo to invest $60m in premium UK hotels
OYO, a travel tech firm, plans to invest 50 million poundsterling (US$60 million) over three years, focusing on premium hotels and creating 1.000 jobs in the hospitality sector.
The company will acquire premium properties through long-term leases and management contracts, seeking deals with hotel chains and real estate firms for diversification.
Since entering the UK in 2018, OYO has operated over 200 budget hotels across 65 cities.
It now plans to add 40+ premium hotels through leasehold contracts by year-end, with 18 hotels already added.
Recent OYO developments
| Timeline |
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28-Jan-2025 💼 Oyo-backed coworking space raises $12.7m for expansion
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20-Jan-2025 📈 Oyo set to file IPO by Q1 FY25: sources
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16-Jan-2025 💰 Oyo investors plan to sell stake at $3.9b valuation
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05-Jan-2025 💰 Oyo nets $64.1m in funding led by Redsprig Innovation Partners
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24-Dec-2024 🏨 Oyo acquires Motel 6, Studio 6 brands for $525m
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