Airbnb expands India operations, checks into OYO with $200-mn investment

Global homestay major Airbnb on Monday invested close to $200 million in the Ritesh Agarwal-led OYO chain of hotels, homestays, rental accommodation, and co-working spaces. This move, according to industry experts, would give a major boost to Airbnb’s India operations, as it would get instant access to 10,000 OYO Homes properties.

According to sources, the two firms have been in discussion for a stake sale since September last year, around the same time when OYO raised its billion-dollar mega round. This $200 million would be added to the ongoing Series E round. Till now, the hotel booking start-up has managed to raise close to $1.65 billion in total, at a valuation of over $5 billion.