Airbnb has confirmed it is to invest in the Series E funding round for Oyo Hotels & Homes, estimated at between $100 million and $200 million.

Up until this round, Oyo has raised $1.7 billion, the latest being $100 million.

Working together means Airbnb will be able to increase its growing focus on hotel business in India and China, to tap into business travellers who are willing to spend more on travel.  Airbnb’s inventory currently numbers 45,000 listings in India, while Oyo has more than 8,700 buildings and 173,000 rooms, and in China operates more than 5,000 hotels and 260,000 rooms across 280 cities.

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