Oyo’s Widening Losses and Other Financial Takeaways From Its Latest Filing

An example of an Oyo property. Oyo Rooms disclosed details about its financial performance as the hospitality company continues its breakneck expansion while piling up losses. Oyo Skift Take: Oyo has disclosed a surge in losses in documents related to its $1.5 billion in new funding. The hospitality company claims it will turn profitable three … [Read more…]

Airbnb Vs. Local Regulators Is a Lopsided Battle

An Airbnb guide to San Francisco. Effie Yang / Flickr Skift Take: The cities and municipalities that are trying to contain the likes of growth-hungry startups like Airbnb have a major disadvantage: Their adversaries have fought this fight multiple times before. — Rosie Spinks Slim Leather Travel Passport Wallet Holder RFID Blocking ID Card Case … [Read more…]

Why SoftBank’s Second $108 Billion Vision Fund Matters to Travel

The Japanese conglomerate SoftBank Group aims to raise a total of $108 billion for the second Vision Fund, founder Masayoshi Son announced on Friday. Bloomberg Skift Take: With a second Vision Fund, Japan has emerged as the dominant driver of key technologies, many of which apply to travel and tourism. While the first staked ridehailing … [Read more…]

Klook Receives $225 Million SoftBank Investment in Nod to Tours and Activities

Klook’s co-founders, from left, COO Eric Gnock Fah, CEO Ethan Lin and chief technology officer Bernie Xiong. Photo Credit: Klook. Skift Take: For the first time, an Asian startup, Klook, is attracting the highest funding ever in tours and activities. For the last time, can skeptics of this travel sector please bow out? — Raini … [Read more…]