<p>Online hotel room aggregator OYO on Wednesday said that China Lodging Group has signed an agreement to invest $10 million (Rs 63 crore) as equity in the company.<br /><br />OYO had recently raised $250 million in a funding round led by Softbank Vision Fund. Beyond the financial commitment, the two companies will work together and learn from each other going forward, as opposed to operating some form of joint entity.<br /><br />As per the MoU, partnership will combine the technology strengths and operational expertise of OYO with China Lodging Group’s extensive coverage and strong development capability in China, OYO said.<br /><br />OYO currently operates in over 230 cities across India, Malaysia and Nepal. China Lodging Group Ltd is a leading hotel operator and franchisor in China.</p>
<p>Online hotel room aggregator OYO on Wednesday said that China Lodging Group has signed an agreement to invest $10 million (Rs 63 crore) as equity in the company.<br /><br />OYO had recently raised $250 million in a funding round led by Softbank Vision Fund. Beyond the financial commitment, the two companies will work together and learn from each other going forward, as opposed to operating some form of joint entity.<br /><br />As per the MoU, partnership will combine the technology strengths and operational expertise of OYO with China Lodging Group’s extensive coverage and strong development capability in China, OYO said.<br /><br />OYO currently operates in over 230 cities across India, Malaysia and Nepal. China Lodging Group Ltd is a leading hotel operator and franchisor in China.</p>
