Industry Update
External Article18 February 2020

Oyo’s Annual Losses Ballooned to $335 Million in 2019

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skift.com

Oyo appears to be taking its once-explosive global expansion strategy down a few notches, and that could be a good thing for the young company in the face of still-uncertain impacts from the coronavirus and the reputational damage it recently suffered. These losses aren't pretty.

Losses for Oyo Hotels & Homes surged to $335 million in fiscal year 2019 compared to $50 million in red ink the year before, as the fast-growing budget hotel chain has been forced to pull back on its sweeping global growth strategy.

Overall, the India-based hospitality startup posted a consolidated revenue of $951 million in fiscal year 2019, a year-on-year growth 4.5 times higher than the reported revenue of $211 million in the previous year.

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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