This Indian budget hotel chain is being called the next WeWork

Budget hotel chain Oyo knows the skeptics are lining up. Oyo Hotels & Homes is widely thought to be the new crown jewel in the $100 billion SoftBank Vision Fund portfolio, following the failed IPO and meltdown of office-rental company WeWork, another SoftBank investment. Critics have labeled Oyo—a high-flying company with a charismatic CEO and aggressive expansion plans—the “next WeWork.” Oyo is now scrambling to recast the story around sustainable growth and profitability, a sharp change from last fall when Agarwal said the company didn’t even have guidance on when it might be profitable.