SoftBank-backed OYO Hotels & Homes is looking to raise $1.5bn as part of a series F funding round, with Founder Ritesh Aggarwal’s RA Hospitality Holdings investing around $700m. The company, which includes coworking services among its portfolio, said the investment would be used to drive US growth and strengthen its vacation rental business in Europe. It comes amid allegations from some hotel partners that OYO sometimes takes far more than its advertised 20% franchise fee. OYO was founded in 2013 by Ritesh Aggarwal which offers services across various verticals including holiday homes, coworking spaces. In an interview on Bloomberg TV, Aggarwal said: “Hotel operators are not happy about this new kind of competition.
SoftBank-backed OYO Hotels & Homes is looking to raise $1.5bn as part of a series F funding round, with Founder Ritesh Aggarwal’s RA Hospitality Holdings investing around $700m. The company, which includes coworking services among its portfolio, said the investment would be used to drive US growth and strengthen its vacation rental business in Europe. It comes amid allegations from some hotel partners that OYO sometimes takes far more than its advertised 20% franchise fee. In an interview on Bloomberg TV, Aggarwal said: “Hotel operators are not happy about this new kind of competition.