The Oyo Connection You Didn't Know Shah Rukh Khan's Family Has

Skift

6 days ago

It's not every day that the cap table of a hospitality tech startup reads like a Bollywood afterparty guest list. But Oyo seems to be pulling that off. If the company ever does IPO, red carpets at the listing ceremony won't be metaphorical.
It's no longer just institutional capital flowing into Indian travel startups. Celebrities are now showing up on cap tables, not just as brand ambassadors or endorsers, but as financial backers.
From actors and radio hosts to cricket icons, high-profile Indians are betting on travel platforms, reflecting a broader shift in how India's startup ecosystem is being funded.
The latest example comes from Oyo, the hospitality company that raised more than INR 14 billion ($163 million) in its Series G funding round. But this wasn't just another round led by venture capital firms.
Among the investors was film producer and designer Gauri Khan, who picked up 2.4 million shares in Oyo. Khan is the wife of Bollywood superstar Shah Rukh Khan.
While the company hasn't disclosed the value of her individual investment, the funding round pegs Oyo's valuation at $4.6 billion, less than half its peak valuation of $10 billion.
Khan has also backed Innov8, the Oyo-owned co-working brand. In a funding round completed earlier this year, Innov8 raised INR 1.1 billion ($128 million), with Khan among the participating investors.
More Celebrities Turn Investors: Actor Madhuri Dixit, her husband Dr. Sriram Nene, and Dr. Ritesh Malik, founder of Innov8, have collectively bought 2 million shares in Oyo. Meanwhile, actor Amrita Rao and her husband, radio jockey Anmol Sood, acquired shares in the company via the secondary market.
Bollywood couple Sidharth Malhotra and Kiara Advani have also invested in Oyo.
This growing roster of celebrity investors points to a shift in how the travel sector is being perceived.
Moving Beyond Endorsements: Travel companies tapping into celebrity capital isn't entirely new, but the nature of that involvement is changing. Back in 2012, Yatra signed on actor Salman Khan as a brand ambassador. As part of that deal, Khan also acquired a stake of less than 5% in the company.
In 2013, Sachin Tendulkar picked up 7.5% sweat equity in UAE-based OTA Musafir.com in exchange for appearing in its campaigns. He exited after five years.
While Salman and Tendulkar's involvement had been one-off during that time, what we're seeing now is a steady blurring of lines. Celebrities are turning into backers, sometimes advisors, even co-founders in some sectors.
The travel industry, long considered too low-margin or too operations-heavy, is finally attracting their attention.
Some More Celebrity Investors: In 2023, EaseMyTrip brought on Jacqueline Fernandez as both a shareholder and brand ambassador. The company raised INR 2.3 billion through a share issuance. Fernandez was brought in to expand EaseMyTrip's visibility, particularly online.
What's notable about today's investments is that they are increasingly early-stage and equity-based. Deepika Padukone, through her firm KA Enterprises, has invested in multiple startups including the now defunct BluSmart, an electric ride-hailing company. Cricketer MS Dhoni has backed ventures in fintech, health tech, drone manufacturing, and mobility, showing a clear interest in platforms related to infrastructure and movement.
Even Tamil film star Nayanthara has entered the ecosystem with an undisclosed investment in Ticket9, an event ticketing platform.
Part of this has to do with the sheer size of India's travel economy. As more Indians travel domestically and internationally, the opportunity to build meaningful companies in this space has become more obvious. Add to that the IPO potential of platforms like Oyo, and it's clear why celebrities want a piece of the action.
IndiGo's Codeshare Agreement With Jetstar
IndiGo has signed a codeshare agreement with Australian carrier Jetstar to boost connectivity between India and destinations in Australia and New Zealand. Effective for bookings from July 21 and travel starting September 1 (subject to regulatory approvals), IndiGo customers will gain access to 14 new destinations via Jetstar flights transiting through Singapore, Bangkok, and Phuket. Key cities covered include Sydney, the Gold Coast, and Auckland.
The agreement allows IndiGo to place its code on Jetstar-operated routes, enabling single-ticket itineraries with through check-in for baggage and integrated travel benefits.
Jetstar CEO Stephanie Tully noted the deal would help grow inbound tourism from India, citing strong cultural ties and a growing Indian diaspora. IndiGo's Abhijit Dasgupta emphasized the partnership's role in boosting business, trade, and tourism links between the regions.
India Gets Another Fairmont
Fairmont Hotels & Resorts, part of Accor, in partnership with Keystone Resorts, has announced the opening of Fairmont Udaipur Palace. Set across an 18-acre estate in the Aravali Hills, the 327-room property features seven event venues, eight dining concepts, and over 1,40,000 sq. ft. of indoor and outdoor event space. Signature venues include Jewel, which is said to be one of India's largest ballrooms, the open-air Mehfil courtyard, and multi-tiered amphitheatre Chand Baori.
This opening marks a major addition to India's luxury hospitality and meetings and events sectors, designed for high-profile weddings, executive retreats, and large-scale celebrations. The property includes a helipad, Fairmont Spa & Salon, and recreation zone Rendezvous. The brand emphasizes integrating Rajasthani heritage and sustainability with global standards, positioning Fairmont Udaipur Palace as a flagship for experiential, high-value tourism in India.
Air India CEO on AAIB Report
Air India CEO Campbell Wilson, addressing employees in the wake of the AI171 crash, emphasized that the Aircraft Accident Investigation Bureau's (AAIB) preliminary report found no mechanical or maintenance issues with the Boeing 787-8 Dreamliner or its engines.
An unexplained fuel supply cutoff caused both engines of the aircraft to shut down seconds after takeoff, the AAIB's preliminary report released Saturday noted.
The June 12 crash killed 241 of the 242 crew and passengers on board. Wilson clarified that all mandatory maintenance had been completed, fuel quality was not a factor, and the aircraft's take-off roll was normal.
The report also confirmed that the flight crew passed pre-flight breathalyser tests and had no medical issues. Wilson in a letter to the employees of Air India urged the employees avoid speculation, highlighting that a final report is pending. He also confirmed that all Boeing 787s in Air India's fleet were inspected post-incident and deemed airworthy.
Fern Hotels Signs 200+ Key Serviced Apart'otel in Jaipur
Manglam Group has signed a partnership with The Fern Hotels & Resorts to develop a 200+ key serviced apart'otel under the Fern Habitat brand in Jaipur. The project will be part of Pinkwalk, Manglam's flagship mixed-use development in Jagatpura, spanning 21,000 sq. yd. The Fern Habitat Pinkwalk is tailored for both short and extended stays, offering units with private living areas, kitchenettes, and hotel services like daily housekeeping and on-site dining.
The apart'otel aims to serve business and leisure travelers with sustainable, guest-focused hospitality, the company said in release.
Pinkwalk will also house 950+ commercial and studio spaces and amenities, including a food court, clubhouse, and multiplex, with connectivity to Jaipur airport and key city hubs. This development forms part of Manglam Group's INR 10 billion ($116.5 million) hospitality investment plan across Rajasthan and Goa, following its earlier partnership with Westin, targeting high-growth segments such as corporate stays and leisure tourism with a focus on eco-conscious hospitality.
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