SoftBank-backed Oyo Hotels enters premium segment

Oyo Hotels and Homes, the world’s third-largest and fastest-growing chain of hotels, homes, and living space, is entering the four-star hotels segment in India with the purchase of a 64-suite building in Ahmedabad for an undisclosed amount. Oyo has partnered with Gurugram-based hospitality firm Mountania Developers for the transaction and to redesign the building into a premium hotel by the end of this year.