OYO suspends payment of month-to-month benchmark earnings to hotels; invokes power majeure

Hospitality agency OYO mentioned it is suspending payment of month-to-month benchmark earnings to its resort partners because it is finding very no longer going to discharge its tasks below the master provider agreement as a result of COVID-19 pandemic.

“In gentle of this pandemic and various restrictions issued by the governmental authorities, your resort’s earnings has been drastically and adversely impacted and it is no longer going to present a gain to within the subsequent few months,” OYO mentioned in a letter to resort house owners.

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