Outgoing CEO’s resignation comes a day after the sale of a part of his promoter stake through a block deal.
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A premium offering from India’s largest airline has not evoked the expected response from flyers and just goes to show that breaking away from its low-cost DNA isn’t easy.
Minus any drama, Airbnb’s India business seems to be chugging along well. But with several competitors lining up, the stage is set for an interesting face-off.
The company is now just another aggregator in the budget hotel sector. And the shift does make sense; OYO wants to cut losses and its India business isn’t all that important anymore.