OYO presented their statistics which showed the number of rooms working with OYO's label as of June 2019. The company is spread over 800 cities with almost 23,000 hotels and a whole total of 850,000 rooms.
In the safe of OYO, they almost have $ 1.5 billion which they can use for the further domination over the hotels industry.
OYO is booming over China, with over 500,000 rooms spread in 337 cities. The company also forged a statement telling the count of their rooms in Indonesia and other regions of Asia. The number totalling up to 20,000 rooms and 720 hotels.
“OYO has surpassed other hotel brands including IHG, Accor, Wyndham etc. It will spend $300 million out of the $1.5 billion towards the US business,”
a source aware of the development told Financial Express Online.
The company is aiming for the market of UK, which in fact they have started capturing with 85 hotels in 25 destination. Meanwhile, with the numbers of 68 hotels in 40 cities the company has started with US also.
Another jump of OYO was projected after @Lesiure gave direct and instant access to the group's 1.15 lakh unit of states to OYO. This agreement boosted OYO's growth by over 13 times in European market.
"The company has streamlined its business with entire Indian operation across its various product categories being clubbed into one company while the international foray with its own challenges and nature of operations will be the second unit. The technology and brand-related activities will be managed by a third company,”
the source claimed.
“Today, OYO has over 850,000 exclusive keys as part of its hotel chain. We started with a simple mission of creating quality living spaces. Over 500,000 heads rest on OYOhotel pillows daily today, a testament to the impact we are creating globally, said Agarwal. OYO is currently a “small percentage of the world’s accommodation market, and we have an incredible opportunity ahead of us.”
As per the company's plan, out of $1.5 billion, $600 million is sanctioned for China. Which further will be divided for further growth, better hospitality, improved man skills, customer experience, and overall quality.
In India, OYO is wide spread over 300 cities, with 10,000 hotels and 200,000 rooms. Next major market for the company are US and Europe.
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