Softbank-backed Oyo's losses rise six-fold to $332 mn; revenue quadruples

Topics SoftBank | OYO Rooms

SoftBank-backed Oyo Hotels and Homes' losses ballooned six-fold in the year to March, while its revenue more than quadrupled, a valuation report filed by the India-based hotel chain with local regulators showed on Monday. The losses highlight a period of rapid expansion by Oyo into markets such as China, the United States and the United Kingdom, which has made the six-year-old startup one of the world's biggest hotel chains by room count.

Oyo reported a net loss of 23.85 billion rupees ($332 million) in the year to March 2019,.

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