April 23, 2019

Oyo To Invest Rs 1400 Crore In India

Oyo Hotels & Homes is planning to make an investment of Rs 1,400 crore in India. The hospitality chain has also launched the Collection O brand, targeted at millennial travellers.

The investment is part of the company’s plan to further double down on expansion plans, improve customer experience and ensure an increase in continued asset owner success.

Ritesh Agarwal, Founder of Oyo Hotels & Homes, said, "India has been our key home market. Today, we are the largest hotel operator in this country and that too by a margin, with 176,000 leased and franchised keys under management. We are committing over Rs 1,400 crore for technology investments, renovation, and managing investments for the calendar year, and will provide more, if needed, to help the team ensure continued economically efficient growth."

Besides Collection O, the portfolio includes Oyo Rooms, Townhouse, SilverKey, Capital O and Palette Resorts.

Aditya Ghosh, Oyo's Chief Executive for India and South Asia, stated, "Oyo is not an aggregator, OTA (online travel agency), Certification Company, or a booking portal but a full-scale hotel chain that is growing 14 times faster than other marquee hotel brands in India."

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