Oyo eyes large-hotel assets with over 100 rooms for expansion
Hospitality firm Oyo said it is looking to partner with hotels with large inventory of over 100 rooms under its franchisee and management contracts to expand its presence in the country.
It has already partnered with 12 such hotels and is managing them across Delhi, Goa, Bengaluru, Tirupati, Hyderabad, Noida, Vrindavan and Patna, said a release.
“In the past year, we’ve on-boarded over over 10 such hotels with inventory ranging from 100-200 rooms and another 10 plus hotels having over 80 rooms.
“With similar additions in the coming months, we’ll continue to expand our large-hotel portfolio and dominance over India’s hotel market while ensuring high yield for our partners,” said Maninder Gulati, chief strategy officer, Oyo.
The company plans to go deeper into its existing markets while adding over 50 cities to the network and capturing 5 per cent share of the country’s hotel market by 2018-end, he added.
With 4,000 hotels, Oyo is set to reach the target of 180,000 rooms by end of this year, according to Gulati. Oyo operates under brands like Oyo Rooms in the budget space and Oyo Townhouse, Oyo Home and Oyo SilverKey in the mid-market category.