OYO says it is world's third-largest hotel chain; US, Europe being key growth drivers
The hospitality major has also announced that its mid-scale business hotel, Collection O, has reached 175 hotels in India. Collection O caters to the new-age corporate travellers who are looking for quality and affordable accommodations.
Indian hospitality startup OYO Hotels and Homes on Thursday announced that it has now emerged as the world’s third-largest hotel chain with respect to the room count as of June 2019.
OYO has expanded its presence to over 800 cities with more than 23,000 OYO branded hotels and 85,000 rooms. The company said in a statement that this achievement is a result of its growth in China (with presence in 337 cities and over 500,000 rooms), followed by expansion in Indonesia (with presence in 80 cities and over 20,000 rooms and 720 hotels).
Additionally, the UK, with presence in 25 destinations and 85 hotels, and the US, with a presence in 40 cities and over 68 hotels, have been strong growth drivers.
Commenting on the development, Ritesh Agarwal, Founder & CEO (Group), OYO Hotels and Homes, said,
“In the last six years, we have enabled job opportunities for over 300,000 young people across India, China, the US, and the UK, and will continue to support the growth of the hospitality, travel, and tourism industry around the world. I am happy to see that real estate owners continue to see value in working with OYO Hotels while witnessing an increase of approximately 30 percent in occupancy, a 2.5X jump in RevPar and profits. This is a strong validation of the impact we have on their business, both at customer experience and revenue levels. Today, we are a small percentage of the world’s accommodation market, and we have an incredible opportunity ahead of us. We are just getting started.”
The hospitality unicorn has also announced that its mid-scale business hotel, Collection O, has reached 175 hotels in India. This category of hotel caters to the new-age corporate travellers who are looking for quality and affordable accommodations.
Commenting on reaching 175 hotels, Ankit Tandon, Chief Operating Officer, Collection O Hotels and Operated Business, said,
“As a customer-first company, we are focused on offering quality and affordable accommodations across categories including corporate travellers. Collection O offers a unique combination of business and leisure hospitality experience. The 175 Collection O Hotels milestone is both a big achievement and a driver for us to keep evolving and become the most preferred accommodation option for corporate travellers in India.”
Collection O claims to have over 300 corporate brands on board including Nestle India, Future Group, Apollo Hospitals, and BYJU’S.
(Edited by Megha Reddy)
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.