At the end of last year, Oyo’s staff count touched 30,000 globally and about 10,000 in India. Though China has been successful in curbing the pandemic, the ongoing tensions between India and China casts doubt about Oyo’s long-term prospects in the world’s second-largest economy. In India, demand has collapsed not only at Oyo but at all hotel and travel platforms. Agarwal said that China revenues have rebounded to about 75% of pre-covid levels, with a full recovery likely by early 2021. In the US, the worst-hit country in the world by the pandemic, Oyo was forced to cut a majority of its staff earlier this year.

Source: Mint November 19, 2020 15:33 UTC