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OYO suspends payments to hotel owners citing 'Act of God' clause

R Sinduja

News Editor

Ritesh Agarwal-led hotel chain OYO had brought hotels under its roof promising them of a minimum guarantee amount. However, that amount will not be paid anymore due to sharp fall in bookings owing to the coronavirus pandemic. OYO has suspended payments to hotel owners citing the 'Act of God' or 'force majeure' clause. This clause is applicable only to properties that signed the minimum guarantee deal of OYO.