OYO Hotels & Homes has now become the second-largest hotel group and company in China. The firm is the world’s sixth largest and fastest-growing chain of leased and franchised hotels, homes & living spaces.
OYO has expanded its presence to 320 cities in a short span of 1.5 years. It has nearly 10,000 OYO-branded hotels and 450,000 rooms, surpassing the scale of traditional and established hotel chain brands in the country, like Home Inn, Hanting and others.
Sam Shih, COO of OYO China, said, “OYO Jiudian (Hotels) operates as a Chinese company and delivers better living for middle-income people across the country. We have ensured that for the first time you can get a great living space in less than RMB 150 as well. Every day, over 200,000 heads are on OYO Jiudian pillows in China due to the great experience at low cost. Also, we have enabled jobs for over 100,000 young people due to the occupancy rise and, as more people stay in our hotels, more economic opportunities are created.”
“I am humbled to see that over 97% of franchisee partners have come back and renewed their contracts, a testament to the impact we have had on their business, both at occupancy and revenue levels. Today, we are less than 2% of the country’s accommodation market that stands at 35 mn rooms. We have an incredible opportunity ahead of us and we are just getting started,” he added.