I cannot understand OYO. At least in London, it is nearly all horrendous 2* hotels which were often used for temporary emergency housing, rebranded with an OYO logo but no significant refurbishment done. The reviews are absolutely atrocious and I feel sorry for a tourist that books into them. It would be a terrible impression of the city if you were a visitor.
Understand it from the point of the VC. They were trying to sell a story about a “visionary” who could create a hotel brand without paying for the people and infrastructure that make it all work. It takes time and money to build and do quality control for quality hotels. That doesn’t make for 1000x ROI though.
Easy to understand when you know they were never interested in selling quality hotel room nights, but rather trying to cash out on the equity.
