Oyo Rooms, the fast-growing Indian hotel franchise, has raised more than $100m from US room-booking site Airbnb, giving fresh firepower for its international expansion drive.
Founded in 2013 by then 19-year-old university dropout Ritesh Agarwal, Oyo has become the world’s most rapidly expanding hotel chain, adding more than 700 properties each month.
On Monday, it confirmed an equity investment from Airbnb, without revealing financial details.
