• About
  • Contact
Sunday, January 17, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

In First US Purchase, OYO Acquires Hooters Casino in Vegas

Pritish raj by Pritish raj
August 26, 2019
in News, Retail
2 min read
0
Annual OYO Valuation Drop Japan Travelopedia Oyo-Rooms-nextbigbrand.in

Oyo-Rooms-nextbigbrand.in

Share on FacebookShare on Twitter

SoftBank-backed Indian Hospitality Giant Oyo Hotels and Homes has bought Hooters Casino Hotel Las Vegas in what is its first property purchase in the US.

Although Oyo didn’t reveal the financial terms of the transaction, but it has been estimated at $135 million for the asset.

Hooters Casino Hotel will now be re-branded and designed as Oyo Hotel & Casino Las Vegas, the company said in a statement. It provides 657 rooms across 19 floors and a 35,000 square-foot casino.

“We believe Las Vegas is an exciting city in which to invest as the market continues to evolve with projects such as the new Las Vegas Raiders NFL stadium and the $1 billion expansion of the Las Vegas Convention Center. As we continue to focus on bringing to life our popular concept of ‘comfort design’ and delivering chic hospitality experiences, we are increasingly exploring new ways to connect with our customers, from millennial, to young executives and families, in every city we enter,” said Abhinav Sinha, chief operating officer and OYO Hotels and Homes USA.

In June, Oyo announced its plan to invest $300 million in the U.S. Currently, it has more than 112 Oyo Hotels in more that 60 cities and 21 states in the U.S.

“With our newest hotel in Las Vegas, we are excited to cater to a completely different audience segment,” said Ritesh Agarwal, founder and chief executive, OYO Hotels and Homes.

OYO Hotels and Homes which World’s third-largest chain of hotels, homes, managed living and work spaces was founded in 2013. The portfolio of OYO consists of fully operated real estate comprising of more than 23,000 hotels and 125,000 vacation homes. Over the years, it has attracted a lot of investors including the likes of Airbnb, SoftBank, LightSpeed Venture Partners, Greenoaks Capital, Sequoia Capital India and Hero Enterprise.

The Property Oyo has acquired.
Source- Groupon

Oyo has been on an acquisition spree. It confirmed its acquisition of Innov8 which provides co-working spaces. It showed the increasing focus of company on the growing segment.

In May, Oyo said that, it has acquired Amaterdam-based Leisure group, from Axel Springer, a media and technology company. Leisure is a vacation rental company in Europe, which manages holiday homes, holiday parks, and holiday apartments. The transaction was pegged around $416 million, according to several media reports.

Oyo has been on an acquisition spree. In July, it confirmed its acquisition of Innov8, a co-working spaces provider, highlighting the company’s increasing focus on the fast-growing segment. While Oyo did not disclose financial details of the Innov8 acquisition, it is pegged to be around $30 million, according to a TechCrunch report.

In May, Oyo said it has agreed to acquire Amsterdam-based @Leisure Group, from Axel Springer, a media and technology company, for an undisclosed amount. @Leisure is a vacation rental company in Europe, which manages holiday homes, holiday parks, and holiday apartments. The transaction was pegged around $416 million, according to several media reports.

Last Year also it acquired Mumbai-based Weddingz.in, an online marketplace for wedding venues and AblePlus solutions Pvt. Ltd., an Intenet of Thing (IoT) company.

It claims to have a balance sheet of about $1.5 billion. OYO has raised nearly $1.7 billion in funding over 12 rounds.

Previous Post

Government To Infuse Rs. 70,000 Crore In Public Sector Bank

Next Post

Air India in Debt, Yet To Clear Rs. 4,500 Crore To Indian Oil Companies

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Under Pressure WhatsApp Delays its Controversial New Policy Update
News

Under Pressure WhatsApp Delays its Controversial New Policy Update

January 16, 2021
IndiaMart Market Cap Hits $3 Billion
News

IndiaMart Market Cap Hits $3 Billion

January 15, 2021
Digit Insurance Becomes the first Unicorn of 2021 with a total valuation of $1.9 Billion
News

Digit Insurance Becomes the first Unicorn of 2021 with a total valuation of $1.9 Billion

January 15, 2021
Trump Administration Blacklists Smartphone Giant Xiaomi and other 10 Chinese Companies
News

Trump Administration Blacklists Smartphone Giant Xiaomi and other 10 Chinese Companies

January 15, 2021
Rise of Regional OTT Platforms in India during the Pandemic Time
News

Rise of Regional OTT Platforms in India during the Pandemic Time

January 15, 2021
Ex-Star India Chairman Uday Shankar Joins Lupa Systems CEO for New Venture
News

Ex-Star India Chairman Uday Shankar Joins Lupa Systems CEO for New Venture

January 14, 2021
Next Post
Air India- Next Big Brand

Air India in Debt, Yet To Clear Rs. 4,500 Crore To Indian Oil Companies

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Cars

Auto Sales Witness a Major Drop in India in April-May

2 years ago
VENKYS INDIA

Ups and Downs Of Indian Brand Venky’s

2 years ago
Likee Monthly Users- Next Big Brand

TikTok Competitor Likee Garners 150 Million Monthly Users Globally

5 months ago
Puma logo

Puma Charges Ahead of Competition and Is Now the Top Sportwear Brand in India

2 years ago

FOLLOW US

  • 22.2k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Lava Mobiles: Planning a Strong Comeback in the Smartphone Industry
  • Under Pressure WhatsApp Delays its Controversial New Policy Update
  • IndiaMart Market Cap Hits $3 Billion

Instagram

Follow Me!

Latest News

Lava Mobiles: Planning a Strong Comeback in the Smartphone Industry

Lava Mobiles: Planning a Strong Comeback in the Smartphone Industry

January 17, 2021
Under Pressure WhatsApp Delays its Controversial New Policy Update

Under Pressure WhatsApp Delays its Controversial New Policy Update

January 16, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.