Startups

Oyo to end unprofitable contracts as SoftBank sets pre-IPO deadline

The company runs about 800 hotels under a self-operated business model, where it makes investments and has leasing arrangements with property owners. It is likely to phase out contracts under the segment that is not Ebitda-positive by March 31. Plans are also afoot to shut down ancillary businesses that do not post an operating profit by July as per a mandate from SoftBank.

from Startups-Small Biz-Economic Times
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