Oyo, the Indian-based hotel group that is one of SoftBank’s biggest bets, is facing a backlash in China from disgruntled hotel owners in a dispute over payments.
SoftBank, the Japanese technology group, has poured money into Oyo, which rebrands and renovates independent budget hotels around the world and promotes them on an online platform.
Flush with cash, Oyo has lured Chinese hoteliers by promising them a guaranteed income, irrespective of how many guests they attract. It says it has contracts with 19,000 hotels in 338 Chinese cities.
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