Published on 17 May 2023 on Skift via Yahoo Finance
Chinese Hotel Firm Rakes in Six-Fold Return as It Sells Minor Stake in Oyo
Evening view of a popular tourist destination, The Golden Temple or Harmandir Sahib in the city of Amritsar in India. Photo: MrAllen. Source: Adobe.
Chinese hospitality company H World Group – formerly Huazhu – has sold one-fifth of its holding of Indian hospitality company Oyo to United Arab Emirates-based family offices and institutional investors for around $9 million, a source told Skift.
The company’s partial exit translates to a 500 percent gain and values H World’s remaining stake at over $36 million.