As Oyo Struggles To Survive COVID-19, Another Blow For Investor Softbank

[ad_1] Oyo is freezing operations around the world and furloughing thousands of employees Just nine months ago, Masayoshi Son publicly declared Ritesh Agarwal one of the star entrepreneurs backed by his SoftBank Group Corp. The Japanese billionaire boasted that Agarwal’s Oyo Hotels & Homes was poised to overtake the biggest hotel chains in the world […]

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Oyo Says Annual Loss Grew Over Six-Fold On China Expansion

[ad_1] BENGALURU: SoftBank-backed Oyo Hotels and Homes said on Monday losses widened more than six-fold in the year to March 2019, as the India-based hotel chain spent heavily to expand into China. The news comes weeks after Oyo began laying off roughly 2,000 employees in India, as it inches toward profitability, and days after its […]

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