India's budget hotel startup Oyo enters co-working business with $30 million Innov8 acquisition

India’s Oyo has expanded its hotel chain business to more than 80 countries and entered the co-living spaces segment in recent years. The Gurgaon-headquartered firm on Tuesday announced Oyo Workspaces, which is already operational across 10 cities in India with more than 20 centres. At a press conference in New Delhi, Rohit Kapoor, CEO of New Real Estate Businesses, said Oyo plans to have 50 Oyo Workspaces centres by the end of the year and aims to make it the largest co-working business in Asia by the end of next year.