OYO to invest US$ 1.2 bn for expansion, bulk of spending to be in India, China

New Delhi: SoftBank-backed Indian budget hospitality chain OYO, which operates in multiple markets including India and China, will invest over a billion dollars (about Rs 87 billion) over the next three years to add several 100,000 rooms to its brand. The bulk of the spend from the outlay of $1.2 billion will be towards expansion in India and China. “We have earmarked $600 million for China and India is a very important market... and we will invest $300-400 million in India.

We had a strong balance sheet before the recent capital raise of $1 billion. We will put strong resources behind ...

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