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Oyo to raise $200 million for luxury push in the US

Oyo Hotels and Homes, the operator of India’s largest network of hotels, is in talks with financial institutions to borrow $200 million to buy premium and luxury hotels in the US. The company, which bought Hooters Casino Hotel in Las Vegas last month, has identified the premium hotels segment as its area of focus outside India, the people said on condition of anonymity. Agarwal is now spending a major part of his time in the US to expand Oyo’s presence in the world’s largest economy.

 

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