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OYO Rooms receives its first tranche of funding from China Lodging Group

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26.04.2018

The Chinese hotel operator bought the one-percent equity stake in OYO for a consideration of RMB 66,467 (approximately $10,512).

Chinese hotel operator and franchisor China Lodging Group has disclosed that it has secured a one-percent equity stake in Oravel Stays Private Limited, which runs OYO Rooms by investing its first tranche of the total $10 million committed to the online hotel aggregator.

In a recent US Securities and Exchange Commission (SEC) filings by the company, it states that it has agreed to invest a total of $10 million in a span of five years,........

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