Articles tagged “budget hotels”

Budget Hotel Chain Oyo Continues Meteoric Growth With Vegas Hooters Acquisition

Budget Hotel Chain Oyo Continues Meteoric Growth With Vegas Hooters Acquisition

Danni Santana, Skift

Oyo is opening, on average, one new hotel per day. It should be available in all 50 U.S. states in no time.

4 weeks ago

Hotel Budget Brand RedDoorz Captures Another $70 Million in Funding

Hotel Budget Brand RedDoorz Captures Another $70 Million in Funding

Raini Hamdi, Skift

The super-budget accommodation sector in Southeast Asia has so much potential. That’s old news. What’s new is super investors have finally warmed up to the idea and are backing RedDoorz in the face of Oyo’s entry into the region.

1 month ago

Accor’s Franchise Deal in Singapore Underscores Mounting Challenges for Budget Chain Oyo

Accor’s Franchise Deal in Singapore Underscores Mounting Challenges for Budget Chain Oyo

Raini Hamdi, Skift

The one thing budget hotel upstarts have done is make global hotel chains hungrier for their sector, especially high-growth markets such as Southeast Asia. Oyo probably knows this; it has named a CEO for the region.

1 month ago

Trump Hotels’ Indonesian Partner Invests in Budget Hotel Startup RedDoorz

Trump Hotels’ Indonesian Partner Invests in Budget Hotel Startup RedDoorz

Raini Hamdi, Skift

RedDoorz' latest funding round includes two interesting new investors, Qiming and MNC Group, and it says a lot about the potential of budget accommodation in Southeast Asia, which is also being pursued by Oyo.

2 months ago

Oyo Claims It Has Overtaken IHG as World’s Third Largest Chain

Oyo Claims It Has Overtaken IHG as World’s Third Largest Chain

Raini Hamdi, Skift

Oyo has been making upbeat announcements more than usual in the past few weeks. Is it building itself up toward an IPO or more funding, or is it fending off critics, skeptics, and issues in India and China?

2 months ago

Oyo Is Betting U.S. Strategy on Aggressive Dynamic Pricing

Oyo Is Betting U.S. Strategy on Aggressive Dynamic Pricing

Danni Santana, Skift

Oyo's dynamic pricing strategy could turn out to be a bit of a double-edged sword in the U.S., where the company faces greater competition. On one hand occupancy is sure to go up for many of its hotel partners, but if a majority of rooms are booked last-minute at incredibly low prices, hotel managers can start enduring some losses.

2 months ago

Oyo to Invest $50 Million in Vietnam to Grow to 20,000 Hotel Rooms in 2020

Oyo to Invest $50 Million in Vietnam to Grow to 20,000 Hotel Rooms in 2020

Raini Hamdi, Skift

After Indonesia, Vietnam turns out to be the next big playground in Southeast Asia for Oyo, which is targeting 20,000 rooms in the country by the end of 2020. But the more Oyo rooms multiply like rabbits, the more people want to know about the real returns on investment.

3 months ago

What If Accor Acquires Oyo?

What If Accor Acquires Oyo?

Raini Hamdi, Skift

A full-blown acquisition or a stake in a tech-focused budget hotel player by a global hotel chain would be yet another strange development in the hospitality industry. But as we've seen, nothing is really strange anymore. This is an interesting development to watch, as the implications could be far-reaching.

4 months ago

Oyo to Flood Japan With Budget Hotels in New Deal With SoftBank

Oyo to Flood Japan With Budget Hotels in New Deal With SoftBank

Raini Hamdi, Skift

Japan is a destination that’s never, ever described as affordable. But Oyo, with its budget hotel concept, could be transformational for its tourism economy.

6 months ago

Airbnb Hires New Transportation Head and 5 Other Hospitality Trends This Week

Airbnb Hires New Transportation Head and 5 Other Hospitality Trends This Week

Isaac Carey, Skift

This week in hospitality, Airbnb picks a former Delta president to lead transportation, budget hotel chain Oyo enters the U.S. market, and Hilton CEO discusses what it means to "own a customer."

7 months ago

What Oyo’s Latest Results Say About the Business of Budget Hotels

What Oyo’s Latest Results Say About the Business of Budget Hotels

Raini Hamdi, Skift

The business of budget hotels is obviously hard when you consider Oyo’s latest financial report. But the startup, now five years in operation and bankrolled by SoftBank, appears to have the stamina to reach the breakeven point in the next few years.

8 months ago

Oyo Enters the U.S. Budget Hotel Market

Oyo Enters the U.S. Budget Hotel Market

Sean O'Neill, Skift

Oyo has a seductive model of renovating budget hotels, running them efficiently through technology, and marketing them directly to consumers. But the startup risks imperial overreach by entering markets like the U.S. that differ significantly from its core markets in India and China.

8 months ago