Oyo founder Ritesh Agarwal plans to invest Rs 550 crore to increase his stake in the company from 30% to 32%, valuing Oyo at approximately Rs 32,000 crore. This funding will support the recent acquisition of US-based Motel 6 and Studio 6, enhancing Oyo's expansion in the US, where it operates over 320 hotels. The company aims to add around 250 more hotels in 2024.
OYO reported a net profit of Rs 158 crore in Q2 FY25, a significant recovery from a loss of Rs 50 crore in the same quarter last year. The company's revenue rose to Rs 1,578 crore, up from Rs 1,413 crore in Q1. OYO's H1 FY25 net profit reached Rs 290 crore, contrasting with a net loss of Rs 91 crore in the previous fiscal year. Additionally, OYO has acquired G6 Hospitality, the parent company of Motel 6 and Studio 6, from Blackstone.
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