OYO on Tuesday said it was raising $1 billion more, making it the most valuable hospitality chain in the country ahead of Tata-owned Indian Hotels and Oberoi-controlled EIH. Of the $1 billion that OYO is raising in the latest round, the hospitality chain has already got $800 million and has a further commitment of $200 million. The money will be used to grow OYO’s business in India and China, and expand into new international markets. “In the last 12 months, we have increased our footprint to five countries — India, China, Malaysia, Nepal, and more recently in the UK. “We have already started expanding our presence to newer segments, with OYO Home, OYO Townhouse and more recently Palette Resorts by OYO.

Source: The Telegraph September 25, 2018 22:07 UTC