Also read: Coronavirus impact Oyo founder Ritesh

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canada goose uk black friday A group representing hotel operators in Bengaluru called for a criminal probe against the company for withholding money, news agency Reuters reported late last year, adding several hotels had severed ties with the company. Two police complaints were also filed against Oyo for deceitfully increasing commission while some hotel groups organised protests as well, the report said.Also read: Coronavirus impact Oyo founder Ritesh Agarwal to forego salary for rest of the yearExpansion and a quick retreatFounded in 2013 by 19 year old Ritesh Agarwal, Oyo was a novel concept offering budget hotel rooms at a discounted price. Indians were travelling and holidaying more and in a price sensitive market, Oyo found ready customers.Riding high on its success at home, the company expanded into China, Europe, Southeast Asia and the United States, making Oyo one of the world’s biggest hospitality brands by room count.It also got into the food and beverages industry, with the launch of cloud kitchen and high margin coffee chain The French Press in 2019.Having raised around $3.2 billion from investors such as Softbank and AirBnb, Oyo tillearly this year was valued at $10 billion. canada goose uk black friday

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