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Funding alert- Oyo raises USD 660 million – Inventiva

The hospitality industry of the country like many other industries was silent in the pandemic period. The sector had no clients and was in terrible losses. The big names like Taj even have been reported to degrade their quality because of the cost-cutting and firing of many of its employees, because it was not able to afford the expenditure. Imagine a big chain like Taj which has been famous for its excellent hospitality suffering like this. Now if a big name is going through this, what about the small companies in this sector? The Indian hospitality sector has many small hotels under its name besides the brands like Taj, Mahindra, and many others. With the lockdown, and the people inside their homes, the hotels had zero demand but the maintenance and expenditure were the same. So, COVID 19 had a very negative impact on the hotel industry of the country. 

With the tourism industry now opening up, demand for hotels has started to come up. It had been in loss for almost a year,…

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