VIDEO: OYO on doubling down on what works during a pandemic

OYO was having a bit of a rethink about its strategy even before the coronavirus pandemic hit in the first few months of 2020.

The India-based company got a massive $1.5 billion funding round in late-2019 and stated that it wanted to become a global leader in private accommodation during 2020.

But after buying TUI's rental tour operating business in early-February this year, losses had increased to $335 million during 2019 and its hotel business was being scaled back in some countries (in particular the U.S.).

OYO's strategy to get into the rental business (starting with its deal to buy European vacation rental brand @Leisure Group in a €360 million deal in May 2019) could eventually be seen, once the dust settles on the pandemic, as a bit of a lifeline for the business.

Private accommodation has been the standout performer for many countries as lockdown restrictions eased and consumers became nervy about hotel stock.

CEO Ritesh Agarwal spoke to Phocuswright analyst Chetan Kapoor during The Phocuswright Conference in November.

Here's the full interview below...