Oyo hotels & homes pvt ltd, popularly known as Oyo Rooms has recieved Rs 634.5 crores from Oravel Stays through allotment of new shares. With the Corona pandemic hitting the hospitality sector and restricting travel, the parent entity has funded Oyo to deal with rising operational and business costs.
Few startups have achieved success without failures. The Oyo story is no different and he is what its management, employees, investors and partners can do. Entrepreneur K Ganesha shares a few ideas: 1. Communicate clearly and unambiguously. 2. Don’t couch the communication in euphemisms. 3. Don’t blame the employees or non-performance. 4. Think ahead! 5. Be fair. Ensure, at the minimum, that the contractual obligations of the notice period, severance pay, leave encashment, etc are met fully.