In brief: Oyo said to acquire Chinese rival Qianyu

• To ramp up its China operations, Indian tech-driven hotel brand Oyo Rooms has acquired smaller rival Qianyu. The transaction was completed last week, marking “the first acquisition of the company in the country,” said two sources aware of the matter.
• Oyo Rooms already claims the largest hotel inventory in China, with 360,000 rooms across the country.
• Qianyu claims to be a mid-scale hotel chain that follows a franchise model – like Oyo – to bring hoteliers under its brand.

Source: Entrackr