About OTO Development
OTO Development is a company based in Spartanburg (United States) founded in 2009 by Corry Oakes.. The company has 1,648 employees as of December 31, 2021. OTO Development has completed 1 acquisition, including DoubleTree. OTO Development offers products and services including Hotel Management and Hotel Development.
- Headquarter Spartanburg, United States
- Employees 1648 as on 31 Dec, 2021
- Founders Corry Oakes
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Sectors
Travel & Hospitality
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Oto Development
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$11.3 M (USD), Debt – Conventional
Sep 19, 2016
- Investors
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Employee Count
1648
as on Dec 31, 2021
- Investments & Acquisitions
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Products & Services of OTO Development
OTO Development offers a comprehensive portfolio of products and services, including Hotel Management and Hotel Development. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Hotel management services are handled by OTO Development, involving the oversight of more than 55 select-service and extended-stay hotels with a focus on performance and customer service.
Hotel development services are conducted by OTO Development, encompassing the creation and renovation of properties in urban and leisure markets, with investments exceeding $3.6 billion.
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Sales and Marketing
29 people
General Team
20 people
Software Development Team
19 people
Operations Team
13 people
Product Management Team
12 people
Leadership Team
10 people
Human Resources and Administration
10 people
Finance and Accounting
8 people
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Funding Insights of OTO Development
- Total Funding Total Funding
- Total Rounds 1
- Last Round Debt – Conventional — $11.3M
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First Round
First Round
(19 Sep 2016)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Sep, 2016 | Amount | Debt – Conventional - OTO Development | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in OTO Development
OTO Development has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include SunTrust Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Commercial banking services are offered to individuals and businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by OTO Development
OTO Development has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include DoubleTree. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Hotel chains and resorts are aggregated online for traveler bookings.
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1969 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - OTO Development
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Oto Development Comparisons
Competitors of OTO Development
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about OTO Development
When was OTO Development founded?
OTO Development was founded in 2009 and raised its 1st funding round 7 years after it was founded.
Where is OTO Development located?
OTO Development is headquartered in Spartanburg, United States. It is registered at Spartanburg, South Carolina, United States.
Who is the current CEO of OTO Development?
Corry Oakes is the current CEO of OTO Development. They have also founded this company.
How many employees does OTO Development have?
As of Dec 31, 2021, the latest employee count at OTO Development is 1,648.
What does OTO Development do?
OTO Development was established in 2009 in Spartanburg, United States, within the hospitality sector. New hotel properties are developed and existing ones renovated, with emphasis placed on high-barrier-to-entry markets. A portfolio of hotels is owned and managed, where operational excellence and performance metrics are prioritized. Talent development and recruitment efforts are maintained to support team performance. Sustainability practices are integrated into project design and construction phases.
What products or services does OTO Development offer?
OTO Development offers Hotel Management and Hotel Development.
How many acquisitions has OTO Development made?
OTO Development has made 1 acquisition, including DoubleTree.
Who are OTO Development's investors?
OTO Development has 1 investor. Key investors include SunTrust Bank.