Oyo is learning that lightspeed growth is fraught with peril. The Indian budget hotel startup might be tapping the brakes on meteoric expansion plans to focus on profitability, better serving its main funding source, SoftBank and its suffering Vision Fund, and better prepare for an anticipated IPO. Another SoftBank-funded unicorn, shared-workspaces provider WeWork, recently aborted its planned IPO amid losses and criticism of management.
According to marketwatch.com, the global online travel market is expected to grow from US$ 570.25 billion in 2017 to US$ 1.134.55 billion by 2023, at a compound annual growth rate of 13.16% during the forecast period. That is quite some $$$ we are looking at. OTA stands for: Online Travel Agent. Their websites allow consumersMeer lezen over “Why OTA’s are not good for you”
Interesting views of a major hotel company on start-ups through Thibault Viort, its Chief Disruption & Growth Officer. However, what I am beginning to notice that the much used word “start-up” most often means a scale-up. All start-ups have a proven record of profitability and benefit from the investor’s money or a large buyer’s infrastructure to grow even bigger. Stop using the word start-up when actually it is a scale-up!