Airbnb, which is a US-based online home rental company is now in talks to invest around $100-$200 Million in the OYO.
According to the information which has been revealed, it is as of now not clear if the proposed team of the Airbnb investment will give it exclusive access to the OYO rooms with its site.
The report also stated that the deal could fall apart because of the tax-related issues for the Airbnb to invest in foreign startups.
An OYO spokeswoman told The Information that the hospitality company “is working closely with a range of global distribution partners such as Airbnb and other regional and global players. None of these relationships are exclusive.”
“OYO Hotels and Homes are working closely with a range of global distribution partners such as Airbnb and other regional and global players. Our mission is to create quality living spaces and offer those to guests and travelers across the world, and global strategic relationships support that work. None of these relationships are exclusive in nature as OYO will always strive to offer its accommodation spaces to every potential guest,” a spokesperson from OYO said in a report.
The decision to invest in OYO comes into the picture after the San Francisco based Airbnb acquired HotelTonight for $400 Million.
Source: Airbnb
Source: Techstory
