China Lodging Group has funded a total sum of $10 million in OYO hotels. The Shanghai-headquartered Chinese company has invested as part of OYO’s series-D financing round, which was led by the latter’s existing backer, SoftBank, through its $100-billion Vision Fund.

 

About China Lodging Group

China Lodging Group, which was otherwise called Huazhu Hotels, is a multi-mark hotel group, with rented, manachised and diversified models. As of June 30, 2017, the organization had an aggregate number of 612 hotels contracted or under development, including 30 rented hotels and 582 manachised and diversified hotels, with 3,59,530 rooms in operation.

The OYO CEO Ritesh Agarwal, did not confirm whether the Gurgaon based startup was looking to enter China, in partnership with its latest investor.

 

The partnership is expected to fetch benefits

Agarwal further added that “This partnership will allow us to facilitate, strengthen and build a global market leading hospitality business. It will combine the technology strengths and operations expertise of OYO with China Lodging Group’s extensive coverage and strong development capability in China. This could also include an exchange program for employees. This partnership is also expected to leverage benefits that would use profits by economies of scale, not restricted to, sourcing and acquirement and joint unwaveringness programs.”

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