Didi Chuxing invests USD100 million in India’s Oyo Hotels
China’s dominant ride-hailing service Didi Chuxing has pumped a $100 million investment in India based hospitality chain Oyo Hotels & Homes.
Much of the investment will reportedly drive OYO’s rapidly expanding China joint venture business Oyo Jiudian.
Back in 2017 OYO tapped Didi to promote its entry into China and the funding will likely lead to an even deeper strategic partnership between the firms.
Oyo Jiudian operates franchised and leased properties in 280 cities across China, comprising about 5,000 hotels and 260,000 rooms.
Of a total of $1 billion in recent funding, about $600 million will be funnelled into China operations with the remainder funding expansion in Southeast Asia and new markets in the UK.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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