The estimate is a downgrade from its earlier forecast of a 3 percent drop in sales, reflecting a weaker outlook.
The company plays a role in connecting rail operators to travel agencies for now. Rail is a strategically important part to build a full-service travel platform.
Proceeds of the round will be used to improve and innovate technical systems.
OYO did confirm to Tech in Asia that some people were fired, with a China-based spokesperson saying that OYO will “not continue to hold low performers in the organization.”
This MOU will enable Ctrip to work closely with Tourism Fiji and Fiji Airways on business development and joint promotional activities.
But OYO’s market and funding dominance doesn’t mean Jain and investors don’t have other options.
Compass Hospitality's flagship store is now available through both the Meituan App and Dianping App.
Homestays, the pursuit of quality holiday experiences, investments and supportive policies spur high growth in the emerging sector.
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