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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
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.
OYO is shifting gears in India once again. The Ritesh Agarwal-led company, which for the last many years was in the business of running budget hotels, either on lease or ownership, has put an end to that strategy. Over the past few months, OYO has been quietly moving towards becoming a plain-vanilla aggregator of hotels. According to two people familiar with the matter, who requested anonymity, the company is now offering to list hotels on its platform for a 29% commission on the booking amount.
This change in business strategy is a comedown for a company that was once valued …
