Oyo: India’s Fast-growing Hotel Chain Expands in Europe – BBC

India’s fast-growing hotel chain Oyo will expand in Europe with the purchase of an Amsterdam-based vacation rental firm.

Oyo will reportedly pay €369.5m ($415m; £317.9m) for @Leisure.

The Indian firm has grown rapidly since its launch in 2013 and claims it is the world’s sixth largest hotel chain.

Founded by Ritesh Agarwal, now 25, Oyo has received funding from Japanese conglomerate Softbank as well as Airbnb.

Last month the firm secured a “strategic investment” from Airbnb, reportedly valued at $100m.

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