OYO sees signs of recovery in China after coronavirus outbreak
03/26/2020|3:49:44 PM|DealStreetAsia

OYO Hotels and Homes has started to see a recovery in bookings in China, its second-largest market, as the coronavirus outbreak eases up in some parts of the country, the Indian hospitality startup’s Chief Executive Ritesh Agarwal told Reuters on Tuesday.

Agarwal’s comments come as a rise in imported coronavirus cases and the lifting of restrictions on movement in some cities in China have raised the prospect of a second wave of infections that could thwart the country’s economic recovery.

Oyo, which is backed by Japan’s SoftBank Group Corp, has cut thousands of jobs this year, including in China, as the company focuses on becoming profitable and grapples with the coronavirus outbreak.

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