Business

Hotel unicorn Oyo adjusts Brazilian operations to Covid-19

Indian hotel unicorn Oyo arrived in Brazil in 2019, became the country's biggest chain, and is now laying off people preparing for post-pandemic travel

Hotel unicorn Oyo adjusts Brazilian operations to Covid-19
Oyo CEO Henrique Weaver. Photo: Oyo

Indian hotel unicorn Oyo arrived in Brazil in 2019, shortly after having debuted in Mexico, its first Latin American market. In less than a year, without much fanfare, the company earned the title of biggest hotel chain in Brazil by adopting a number of establishments. Since March, however, the Covid-19 pandemic has fallen like a meteor in the travel and hospitality industries, and Oyo is facing a crisis. Its Brazilian division offers a clear example of how the startup is dealing with this challenging scenario and preparing for a reality that will not return to pre-crisis terms at any time...

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