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Embassy to compete with Oyo as it rolls out asset light business model

Under Olive Residences, the Bengaluru-based company will be taking up existing residential buildings and hotels in partnership with owners for a performance-based management fee

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These buildings will provide both short-term and long-term stay options

Samreen Ahmad Bengaluru
Targeting the millennial audience, real estate player Embassy Group has rolled out an asset light management business named Olive Residences under its co-living brand Olive by Embassy.

Under Olive Residences, the Bengaluru-based company will be taking up existing residential buildings and hotels in partnership with owners for a performance-based management fee, which puts it in direct competition with Oyo. These buildings will provide both short-term and long-term stay options.

“This is a far more scalable model unlike greenfield built-to-suit models. We will take a maximum of 60 days to churn around a building and have it operational,” said Aditya Virwani,

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First Published: Nov 24 2020 | 1:07 PM IST

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