OYO hotel takeover bid for rival Treebo Hotels

India's economy hotel startup OYO recently received huge financing 文章 billion.Business Standard said, citing people familiar with the news OYO is in talks to acquire bangalore-based rivals Treebo Hotels.

According to the report, said the acquisition will not only make OYO expand business and hotel industry talent, but also will provide funding for the development of Treebo.

It is worth noting that the Matrix Partners and SAIF Partners are OYO and Treebo common investors.

If the acquisition is completed, it will be after 2016, the company acquired ibibo India's second largest trading online travel market in China.

Treebo by Kadam Jeet Jain, Rahul Chaudhary and Sidharth Gupta, founded in 2015, 400 hotels in the national management, guest room number about 10000.Compared with OYO by financing scale, Treebo's scale is very small.OYO runs about 8700 hotels in India, more than 164000 rooms, and the number is in increasing month by month.

In October this year, people even suspected Treebo and another economy hotel brand FabHotels may merge to expand the scale of operation, in response to growing competition between OYO.In recent months, Treebo and FabHotels financing has been trying to, but not making much progress.So far FabHotels a total of $35 million, the last time the financing is the $25 million in July 2017, Goldman sachs group inc. is one of its investors.

According to Crunchbase ranges, according to data from Treebo (may purchase travel startup Events High), in the four rounds of financing of the communist party of China was $57 million.In addition to the Matrix and Saif, Bertelsmann India Investments, Karst Peak Capital company and the Hong Kong investment company Ward Ferry Management is also its investors.

In addition, so far, OYO has acquired three companies, is a recent purchase purchase Weddingz in August this year.Since opened its first hotel in gurgaon, now OYO number of hotel rooms in India has reached the 125000 rooms, the hotel deals has increased by three times than the same period last year.OYO in November last year into China, its business has extended to 171 cities, with 87000 rooms, it currently has 211000 guest rooms in more than 350 cities.