OYO Reveals Extent Of Covid-19 Impact On Revenue, Ops

Hospitality unicorn OYO said that the restrictions have impacted its revenues, operations and cash flows ‘significantly’. As a result, the company has told its partner hotels that there may be possible disruptions in payment cycles. The company might be forced to delay payment of minimum guarantees and other dues to vendors and hotel partners due to various unforeseen reasons.

An ET report said that OYO’s procurement and supply chain head Ankit Agarwal has written to hotels saying, “In the current unprecedented situation and challenging circumstances there may be possible disruption in our payment cycles and we need your understanding and support to sail through this situation.”