Singaporean ride-hailing company Grab is in talks to pump in $100 million in Indian hospitality chain operator OYO Hotels & Homes.
Grab said that it will fund the deal as part of OYO’s ongoing $1 billion funding round. The investment values OYO at about $5 billion.
The company plans to invest in OYO as part of its expansion in Southeast Asia with over 30 exclusive hotels and more than 1,000 rooms.
OYO will extend into the top 35 cities in Indonesia, including Yogyakarta, Bandung and Bali, over the next 15 months.