- Friday, April 26, 2024
By: Radhakrishna N S
INDIA’S booming hotel operator, OYO Rooms aims to open 500 sites in Britain as part of its expansion strategy.
Founded by Ritesh Agarwal, 25, the company already operates 35 hotels in the UK.
The hospitality firm plans to expand its business aggressively in the next 24 months in a direct challenge to hospitality giants- Premier Inn and Travelodge in the British market.
Jeremy Sanders, the co-founder of restaurant chain Coco di Mama is responsible to manage and expand OYO business in the UK.
The six year old business has already raised over £775 million from investors including SoftBank and Airbnb.
India’s one of the leading start-up valued at £3.84 billion by a funding round led by Japan’s SoftBank in 2018.
The firm operates over 8,500 hotels in India and has significant presence in China, Indonesia, and the United Arab Emirates (UAE).
OYO doesn’t build or own hotels. It approaches the independent hotel owners and offers to invest to improve their business. Thus, the hotels are re-branded as OYO Rooms.
OYO is responsible to upgrade, reshape, and alter the hotel rooms to improve the facilities in a bid to attract more customers and ultimately improve the hotel business significantly.
