Airbnb has invested $150-$200 million in hospitality chain Oyo Rooms which makes it the third successive investment by the former.in the Gurgaon headquartered firm. As per the deal, Oyo will also list its properties on Airbnb’s platform.
The investment will take the value of Oyo Rooms at over $5 billion as per people aware of the investment details. Oyo has garnered about $1.2 billion in the latest round of investments.
“Airbnb’s strong global footprints and access to local communities will open up new opportunities for Oyo Hotels & Homes to strengthen and grow,” said Maninder Gulati, global chief strategy officer at Oyo Hotels & Homes.
The investment is being touted as a win-win proposition for both the firms as for Airbnb the listings by Oyo Rooms will surge its existing inventory, while the new investment will enable Oyo to expand into other countries.
“Both parties are exploring opportunities to collaborate on a range of projects, including making Oyo accommodations available on the Airbnb platform,” stated an official of Oyo Rooms.
Airbnb has about 45,000 listings in India as per its co-founder Nathan Blecharczyk and the country is one among the fastest growing markets for the company.
