Sector: Food and Hospitality
One Oyo exec might make ₹1,100 cr on IPO
Thousands of employees of Oravel Stays Pvt. Ltd, the operator of the Oyo hotel aggregator platform, are set to make a windfall as the company proceeds with its planned public listing. Oyo is expected to create a total wealth of about $668 million (about ₹5,000 crore) for its employees based on a post-IPO valuation of … Read more
73% millennials looking to travel abroad when borders open
With covid-19 vaccination drive in full steam across the world, nearly 73% of millennial Indians would like to travel to international destinations with fewer covid cases, a travel sentiment tracker said. About 67% would want to go to destinations with easy covid policies and protocols, according to Business Of Travel Trade (BOTT), a media platform … Read more
Invesco Swiggy Investment: Exclusive: Invesco in talks to invest in Swiggy at $10 billion valuation
Swiggy is finalising a new financing round of about $500-600 million that is likely to be led by US asset manager Invesco, according to three people aware of the matter. The exercise is likely to catapult the valuation of the online food delivery company to as much as $10 billion, which is double the valuation … Read more
Zomato co-founder Gaurav Gupta resignation comes as a surprise
The intimation for the same was made by Gaurav through an email to Company employees. Zomato founder and CEO Deepinder Goyal confirmed it on twitter. Reason mentioned – “taking a new turn in life and start a new chapter” Key points to note – Gaurav had joined Zomato only 6 years ago in 2015 and … Read more
Mahindra Holidays after a 2 yr delay may finally be entering into property management
The Company has been planning to enter this segment for last 2 years. Reason – asset light model of growing business. The Company claims that the same got delayed due to the Covid pandemic. However, now it may enter into this soon as Company is bullish on revenge travel and expect the demand to pick … Read more
India a tough market to operate: Zomato’s Deepinder Goyal
Zomato co-founder Deepinder Goyal said India is a tough market to operate in but the company will not focus on short term profits at the cost of long term success of the food delivery company. “India is a tough market to operate in, but if you are building to succeed in India, you are already … Read more
Airbnb’s CEO says the company will need millions more hosts to deal with a post-pandemic travel boom ‘unlike anything we’ve ever seen’
Airbnb’s CEO on Friday said it needed millions more hosts for the post-pandemic travel boom. Airbnb sees a “rebound coming that’s unlike anything we’ve ever seen,” CEO Brian Chesky told CNBC. It has 4 million hosts with about 5.6 million listings, numbers mostly unchanged by the pandemic. See more stories on Insider’s business page. Airbnb … Read more