IPO tips

Viking, an operator of river and ocean cruises, and a group of shareholders were set to raise more than $1 billion in an initial public offering on Wednesday.

Travel distribution platform TBO Tek has received the final nod from the Securities Exchange Board of India (SEBI) to raise funds through an IPO.

Airbnb turned heads in 2021 when it announced chairman and CEO Brian Chesky had been awarded a $120 million pay package the previous year that potentially included earning 12 million restricted stock units over the following decade.

Trivago has brought back a key executive from its December 2016 IPO – there are now four leaders from the old guard running the Germany-based hotel metasearch outfit.

Despite reports of a public offering in limbo and more potential private investment, the CEO of Oyo said Wednesday the company has no need to raise more money right now. 

At the inaugural Skift India Summit held at The Leela Ambience Gurugram on Wednesday, hospitality chain Oyo’s CEO Ritesh Agarwal addressed the speculation around its potential IPO. He said that the company does not have a need to raise money at this stage from the public or private markets. Oyo is currently focusing on delivering good earnings results, he said. 

Investment banker JP Morgan has extended a credit facility of INR 2 billion ($24 million) to hospitality chain Oyo, the Economic Times has reported. The funding aims to fuel Oyo’s accelerator program. 

Etihad Airways is profitable again and a turnaround program is progressing well. Could an IPO be next? 

AirAsia Move is serious about an IPO – but first the timing and the business mix needs to be right.

Just two days after the Economic Times reported that Oyo had met with regulators to expedite its IPO, it reported that the hotel operator wanted to back out of the public offering.

Apeejay Surendra Park Hotels, commonly known as Park Hotels, is set to have its IPO on February 5. The group currently operates 30 hotels in 20 cities across India, with 2,298 rooms. Through a strategic mix of ownership, management contracts and leased properties, the group aims to open 56 hotel by 2026.

Saudi Arabian low-cost carrier Flynas has hired Goldman Sachs Group, Morgan Stanley and Saudi Fransi Capital for a potential initial public offering on the Saudi Exchange (Tadawul), according to a Bloomberg report.

Good morning from Skift. It’s Monday, December 12. Here’s what you need to know about the business of travel today.

Hilton’s IPO on December 11, 2013 was the largest ever for a hotel company, and none has beaten it since. Here are 10 key facts and anecdotes framing why it was such a significant moment for the industry.

Bain Capital-owned Virgin Australia‘s Chief Development Officer David Marr, who was assigned to lead the airline’s plans for an eventual initial public offering (IPO), has stepped down from his role, a spokesperson said on Tuesday.

India-headquartered online travel agency Yatra Online plans to launch its initial public offering (IPO) on September 15. The company, which is listed on the Nasdaq since 2016, had filed a draft red herring prospectus on March 25 last year with the Indian regulatory body Securities and Exchange Board of India (SEBI) with a goal of raising up to INR 7.5 billion.

Ankit Gupta, the India CEO of hospitality technology platform Oyo, and Mandar Vaidya, the head of Oyo’s European operations, will both be moving on from the company.

Dubai International Airport (DXB) is set to get a AED 6 billion-AED 10 billion ($1.6 billion-$2.7 billion) mega expansion in the next 5-7 years.

Oyo, in preparation for its upcoming IPO in 2023, is doing a major reorg of its organizational structure and cost base. It has announced it is letting go of 600 employees out of a total of about 3700, mostly in its product and tech teams. From the company:

Buoyed by the strong recovery in India’s domestic travel demand, online travel company Yatra.com plans to launch its Indian initial public offering by March next year.

Surf Air Mobility plans to list directly on public markets in the U.S. after ending a planned $1.4 billion special purpose acquisition company, or SPAC, listing.