Oyo terminates lease contracts for two Gurgaon offices

Oyo Hotels & Homes has terminated leases at two of its flagship corporate offices in Gurugram and is renegotiating the lease on a third and has vacated its offices at Spaze Palazo and in Udyog Vihar, invoking the ‘force majeure’ clause.

Oyo confirmed that it was taking a relook at office space requirements “We are reconsidering office space requirements and revisiting our contracts with landlords not just in Gurgaon, but across the country, to arrive at mutually acceptable terms, while operating within the realm of the contractual terms and conditions,” a company spokesperson said.

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