Oyo has issued a statement confirming a deal with Airbnb, following speculations for months that the homesharing giant is investing in the Indian accommodation startup.
The Oyo investment is Airbnb’s latest effort to expand its growing hotel business after its acquisition of HotelTonight last month.
Maninder Gulati, global chief strategy officer at Oyo Hotels & Homes, said: “As the sixth largest hotel chain operator in the world, we are committed to offering our guests and travellers around the world, great quality living spaces. We are happy to have Airbnb as our partner in this vision.”
Neither parties confirmed the size of the deal, but the strategic partnership is expected to drive both companies to explore collaborative opportunities in a range of projects, including making Oyo accommodations available on the Airbnb platform. Further details were not available at press time.
Apart from Airbnb, Oyo is also working closely with Bookings.com and Expedia.