OYO is on the verge of setting a record as far as overseas expansion is concerned. Right from the Chinese market to SEA, Europe, US and Japan, the Softbank-backed company has been making the headlines for the past six months.
Apart from expansion, the Ritesh Agarwal-led company has been experimenting with new products be it cloud kitchen, co-living, and co-working. In a nutshell, OYO has created a buzz around what its next plan is going to be.
Adding to this buzz, OYO is launching a new product called ‘Collection O’. The new brand will be primarily focused on providing quality accommodation to its customers.
As of now, the company has piloted with 12 hotels under the new facility and it aims to add 650 hotels with more than 20,000 rooms by the end of 2019.
During an event at India Habitat Centre, OYO has announced that it will put in Rs 1,400 crore in the Indian and South Asian business over the course of time. The fresh capital will be deployed towards hiring people and ramping up technology and upgrading the infrastructure of partners, hotels etc.
It will be an add on to OYO exclusive offering where it has been claiming to provide uncompromising facilities to its customers.
With Collection O launch, India hotels brand portfolio alone to grow to 6 including OYORooms, Townhouse, SilverKey, Capital O, Palette Resorts.
Globally, OYO Hotels & Homes is now present in 10 countries, over 500 cities, and hosts millions of guests from around the world in over 18,000 buildings (hotels & homes) and over 515,000 rooms with OYO Hotels’ sales run-rate at December ended 2018 at $1.8 billion – growing 4.3X year-on-year.