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Indian hotel startup Oyo is being courted by some of the biggest names in the travel industry, with Airbnb and China's Ctrip recently announcing investments and tie-ups with the Gurgaon-based company. ’But analysts say competition may be inevitable as the startup pushes into fields where Airbnb and Ctrip already have strong footprints. "Oyo has grown very quickly and is making something unique," Airbnb co-founder and chief strategy officer Nathan Blecharczyk told the Nikkei Asian Review in an interview in Tokyo on Thursday. "Airbnb is growing a lot in emerging markets where consumers are price-sensitive," added, which makes Oyo appealing in terms of potential "strategic partners for the next generation of travel." Oyo says it is the world's seventh-largest hotel chain in terms of the number of rooms, with sales growing 4.3 times in fiscal 2018. It oversees a network of budget hotels in more than 500 cities in 10 countries that allows owners to use Oyo's data-driven management system to boost efficiency. |
