Technology

OYO Rooms, the India-based budget hotel network thatbacked by SoftBankVision fund, has prioritized expansion into China this year but thatnot all itup to.Back home in India, it just moved into the event hosting space through the acquisition of awedding banquet company.

Today, OYO said it has acquiredWeddingz.in, a three-year-old company that claims to be Indialargest wedding planner with 4,000 venues across 15 cities. The company had raised over $1 million from investors, and it says that ithandles 1,500 weddings per quarter.

The deal is undisclosed and it is OYOthird acquisition to date, all of which have come this year. Previously it snapped up a boutique apartment operator and then IOT startup AblePlus, but this transaction marks its first move outside of its core hotels and homes segment. The company said it is making the move because wedding banquets are &a fragmented, low yield, broken customer service business&that OYO believes matches withits experience of digitizing hotels and real estate.

&At OYO, our experience ranges from end-to-end management of homes, villas, small asset to hotels with 100+ rooms while running successful businesses for our asset partners and all these facets will be of utmost importance while operating in the wedding industry that in the dire need of fundamental changes and improvements,& OYO CSO Maninder Gulati said in a statement.

OYO hinted in its announcement today that it has other real estate projects in mind to expand further beyond hotels. That core focus is its affordable hotel network that it says spans5,500 exclusive hotels in over160 cities across India, China, Malaysia and Nepal.

OYO announced its move into China this summer and in two months it claims to have reached 1,000 chains across 28 locations in the country with a focus on serving middle-income customers.

The company has been linked with an investment from internet giant Tencentto push on in China, but so far nothing has been confirmed. OYO does countNASDAQ-listed China Lodging, which was formerly known as Huazhu Hotels and is valued at $6.8 billion, as a strategic partner on the ground there though.China Lodging invested $10 million last year asa follow-on to OYO$250 million Series D, which was led by SoftBankVision Fund.

Main image: The Aurora Station has room for six space tourists. Credit: Orion Span

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