Airbnb Inc invests in Oyo’s Series E funding round

Airbnb Inc invests in Oyo’s Series E funding round

Agency News

New Delhi, Apr 1 : Airbnb Inc has made a strategic investment in Indian hotel startup Oyo, in a bid to strengthen its hotel booking business, the US-based firm said on Monday. This investment, which is being touted at around USD 150-200 million, is part of Oyo's Series E funding. Airbnb will look at ways to make Oyo listings available on its platform, the San Franciso-based firm said.

''As the 6th largest hotel chain operator in the world, we at, OYO Hotels & Homes, are committed to offering our guests and travelers around the world, great quality living spaces. We are happy to have Airbnb as our partner in this vision,'' said Maninder Gulati, Global Chief Strategy Officer at OYO Hotels & Homes in a statement. Strong global strategic relationships that support this mission, help drive collaborative efforts in the right direction, he said..

''Airbnb’s strong global footprints and access to local communities will open up new opportunities for OYO Hotels & Homes to strengthen and grow while staying true to our core value proposition. We’re excited by the possibilities and committed to bringing benefits to the millions of travelers who can now rely on Airbnb and OYO Hotels & Homes to find a home away from home,'' he said. In addition to this strategic investment, both parties are exploring opportunities to collaborate on a range of projects, including making OYO accommodations available on the Airbnb platform,it said.

''This partnership is not exclusive in nature as OYO will always strive to offer its accommodation spaces to every potential guest. We have been working closely with, see these comment and with Expedia. This raise is part of the Series E round, that was announced in September,'' it added. (UNI)