Industry Update
External Article26 November 2019

Oyo’s Widening Losses and Other Financial Takeaways From Its Latest Filing

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skift.com

Oyo Rooms disclosed fresh details about its financial performance as the hospitality company continues its breakneck expansion while experiencing a rapid acceleration of losses in the three months through June 2019, according to newly released financial documents.

The filings were related to Oyo's $1.5 billion in series F funding led by SoftBank Group. The information fills in some missing details that weren't available in October, when Skift Research published a definitive look into how Oyo operates.

In the year through March 2019, the India-based company stated it suffered a net loss of $332 million on revenue of $900 million. But the financial filings also revealed details on the company's accelerating losses, how operations in China account for approximately 40 percent of its losses worldwide, and that early investors in the company aren't participating in the latest round, which placed a $6.5 billion valuation on the company.

Read the full article at skift Inc.

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OYO Rooms

Launched in 2013, OYO is India’s largest branded network of hotels. Its network currently spans over 200 Indian cities including all major metros, regional commercial hubs, leisure destinations, and key pilgrimage towns.
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