Oyo makes first acquisition, buys service apartment company
Hotel aggregator Oyo said on Monday that it has acquired Chennai-headquartered service apartment company Novascotia Boutique Homes for an undisclosed amount. The all-cash deal struck by the company for a brick-and-mortar venture is Oyo's first ever acquistion. The startup was founded by G Madhu Manohar and Girja Madhu and manages rooms in cities including Chennai, Coimbatore, Hyderabad, and Kochi.