OYO Rooms acquires ZO Rooms

new-oyo-rooms-logoBudget hotel rooms aggregator, OYO Rooms has acquired its rival ZO Rooms. OYO’s largest investor, SoftBank has listed the transaction in its most recent financial report. However, the value of the acquisition has not been disclosed. The acquisition came after Zostel Hospitality, the promoters of ZO Rooms, failed to raise additional funds for further growth from their existing investors or bring in new investors. Zo Rooms raised roughly USD 35 million from Tiger Global and Orios Management in 2005.

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