In what is its first property purchase in the
U.S. Softbank backed Oyo hotels and homes, has bought the Hooters Casino Hotel Las
Vegas. Hooters Casino Hotel will now be rebranded and designed as Oyo Hotel
& Casino Las Vegas. It provides 657 rooms across 19 floors and a 35,000
square-foot casino.
Earlier in June, Oyo had announced its plan to
invest $300 million in the U.S. Currently, there it has over 112 Oyo Hotels in
more than 60 cities and 21 states in the U.S. 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.
Founded in 2013, OYO Hotels & Homes is the
world’s third-largest chain of hotels, homes, managed living and workspaces.
The portfolio combines fully operated real estate comprising of more than
23,000 hotels and 125,000 vacation homes. Over the years, it has attracted an array of investors including the likes of Airbnb, SoftBank Vision Fund,
Lightspeed Venture Partners, Greenoaks Capital, Sequoia Capital India, and Hero
Enterprise.
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, it acquired Mumbai-based Weddingz.in, an online marketplace for
wedding venues, and AblePlus Solutions Pvt. Ltd, an Internet of Things (IoT)
technology company.
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