Airbnb’s Brian Chesky who want to attract more high spending business, travellers, believes that hotels on Airbnb will help attract business travellers who have been reluctant to use the service. More than half of HotelTonight’sw customers are these high spenders. Getting into hotel business also adds new inventory in big markets. Chesky is targeting New…
OYO to invest $1bn investment in Saudi Arabia creating jobs for over 5000 Saudi citizens by 2020. OYO has obtained its foreign investment licence from Saudi Arabian General Investment Authority (SAFIA) according to Ibrahin bin Abdul Rahman Al-Omar, SAGIA Governor. and Manu Midha will head OYO’s operations in the region. The company has partnered with…
The 179-year-old travel group has agreed terms of a £900m rescue deal with debtholders and China’s Fosun that aims to save the business but could lead to it being pulled from the stock market. According to the deal Fosun would inject £450m into Thomas Cook in exchange for at least 75 per cent of the…
OYO, a fast-growing Indian hotel chain backed by Softbank, is investing £1.6bn ($2bn) to triple 25-year-old Ritesh Agrawal, the founder’s stake to 30 percent from 10 per cent in the company while light speed and Sequoia, its US backers partly cash out. The share buyback pushes OYO , the World’s third-largest hotel chain behind InterContinental…