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OYO bets on large hotel portfolio, adds 12th 100-room hotel

ANI  |  New Delhi [India] 

India's largest hospitality company OYO has announced its triumph on the Indian hotel market.

The aggregator has announced its partnering with hotels and real estate assets with large inventory portfolio consisting of 100+ rooms under its Franchisee and Management contracts.

In the coming years, OYO aspires to have 10,000+ rooms as a part of its large-asset category and establish market leadership in the space while ensuring great services for customers and highest yield for asset owners.

However, OYO has already partnered with 12 such hotels and is managing them across markets including Delhi, Goa, Bengaluru, Tirupati, Hyderabad, Noida, Vrindavan and Patna.

"We are thankful to them for their continued support. At OYO, our mission is to add value to every form of real estate and being a full-stack hospitality company, we've built capabilities of on-boarding hotel rooms, locked homes, serviced apartments and at the same time managing large-format hotels. In the past year, we've on-boarded over 10+ such hotels with inventory ranging from 100-200 rooms and another 10+ hotels having over 80 rooms," said chief strategy officer, OYO, Maninder Gulati.

"We are upbeat about our India story and plan to go deeper into our existing markets while adding 50+ cities to the network and capturing a 5% share of India's hotel market by 2018-end," added Gulati.

Since its inception in 2013, OYO has closely worked with its asset partners through multiple operating formats including franchise, manchise and leased, currently over 95 percent of its is being driven by exclusive full inventory partnerships.

It has built capabilities of on-boarding 10,000 rooms every month cementing its commitments towards creating beautiful living spaces by providing the customers with an offering that combines both experience and value.

Driven by technology, OYO has successfully established itself as India's largest hospitality company, within a short span of five years and serves its customers through OYO Rooms in the budget space and OYO Townhouse, OYO Home and OYO SilverKey in the mid-market category.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 25 2018. 17:45 IST