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Daily Lodging Report
OYO is planning to prepay a major portion of its RS 1,620 crore debt ahead of its long-planned IPO. OYO said they will prepay Rs 1,600 crore debt through a buyback process.
5 months ago
Airlines
Amidst signs of resilience and revival, ICRA's report also highlights the financial strain that some airlines are under, despite incremental improvements. The Indian aviation sector, characterized by intense competition, high operational costs, regulatory issues, and market volatility, has historically been a challenging business environment for airlines.
Skift | 6 months ago
Online Travel
Bringing cricket superfans into the picture as "quality assurance ambassadors" makes total sense because these die-hard sports enthusiasts are the ones who'll be hitting the road to catch their favorite matches. It's like MakeMyTrip saying, "Let's cater to the people who are at the heart of the action."
Peden Doma Bhutia | 7 months ago
Global private equity firms General Atlantic and Norwest Venture Partners are in talks to pick a secondary stake in Oravel Stays Pvt Ltd, the parent of Oyo.
7 months ago
Hotels
While the Hotelviate report does highlight the surge witnessed in India's organized hotel sector, it also approaches the future with cautious optimism. It serves as a reminder that the exceptional developments witnessed in 2022-23 were unprecedented.
Tourism
Destinations are betting big on India’s travel market. With a growing economy, young population, and rising middle class, the country is positioned to become one of the most lucrative outbound tourism markets in the world.
Amrita Ghosh | 7 months ago
Is this the beginning of a wave of IPO activity among Indian travel companies? Yatra is set to become the second online travel agency to be listed on the Indian stock exchanges, following EaseMyTrip. Both Ixigo and Oyo are also poised for potential listings, indicating a growing interest in the public markets within the Indian travel sector.
Peden Doma Bhutia | 8 months ago
News Blog
Ankit Gupta, the India CEO of hospitality technology platform Oyo, and Mandar Vaidya, the head of Oyo's European operations, will both be moving on from the company. "Ankit Gupta and Mandar Vaidya moved on from their roles six months ago in March 2023. We are proud of their achievements at Oyo and are thankful for…
The anticipation of the Cricket World Cup has sparked a surge in travel demand in India. By raising rates and expanding inventory, companies look to cash in on the cricket frenzy.
Saniya Zanpure | 8 months ago
The vision for the hospitality sector goes much beyond just branded hotels — to include tier-2 and 3 cities which will be crucial for tourism growth. Plus, other highlights from last week's news in hotel deals and development across the country.
Amrita Ghosh | 8 months ago
