OYO enters co-working space with ₹180-crore Innov8 buy

Budget hotel chain OYO on Tuesday announced its entry into the co-working space segment with the acquisition of Innov8, an existing player in that market. The deal size is ₹180 crore, according to sources.

OYO Workspaces plans to take a multi-brand approach, and has introduced two other co-working brands — Powerstation and Workflo — besides Innov8

While Innov8 offers premium office space, Powerstation caters to small and medium businesses and Workflo is a more budget-friendly product.

“Through a targeted multi-brand strategy, we aim to provide a differentiated experience for co-workers at different price points and help expand access to co-working spaces to more and more businesses and professionals across the country,” said Rohit Kapoor, CEO, New Real Estate Businesses, OYO. The price per seats starts at ₹6,000 and goes up to ₹10,000.