Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
Unlimited Access
Unlock unlimited access to 500+ monthly new stories and Inc42’s complete archive of 40,000+ stories.
Inc42 Academy
Exclusive, in-depth and actionable sessions from 300+ industry leaders, founders & operators to help you level up.
Startup Deals
Over $250,000 worth deals on software & tools to help your business scale up.
Member-Only Events
Connect with editors and industry peers through our members-only community
Clutter-Free Experience
Enjoy an ad-free and clutter-free experience as a member, focus on what really matters to you
Support Independent Journalism
Your contribution will go on to support and empower our unbiased & data-driven journalism
Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
Choose Your Plan
Become A Startup Insider
Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.
Citing economic slowdown and revenue impact from the Covid-19 pandemic, hospitality unicorn OYO has decided to suspend the payments of hotel partners. The SoftBank-backed startup is now invoking ‘force majeure’ clauses from the agreement between OYO and property owners.
According to an ET report, OYO has sent a letter, dated March 28, to hotel partners describing the situation and the impact. OYO stated that as revenues of hotels have dwindled and are unlikely to improve in the next few months, it has decided to exercise ‘force majeure’ rights and suspend payments of the monthly benchmark revenue.
To read more, click here.
