Airbnb checks into Oyo with $200 m in tow

NEW DELHI: Airbnb has invested $150-200 million in hospitality chain Oyo Hotels & Homes, making it the third successive strategic investor to buy a stake in the Gurgaon-based company. As part of the deal, Oyo is also likely to list its properties on the San Francisco-headquartered company’s platform.

The funding valued the Indian company at a little over $5 billion, according to people aware of the details of the transaction. Oyo has mopped up nearly $1.2 billion in fresh capital in this round.

Airbnb’s investment — a part of Oyo’s Series E equity financing round that began in September 2018 — also highlights the US company’s attempts to push deeper into Asia’s thirdlargest economy, and evolve into an end-to-end travel services platform.