Bengaluru: OYO Hotels & Homes on Thursday announced plans to invest $300 million over the next few years to grow its presence in the US.
OYO Hotels & Homes currently offers its unique service at popular cities across the US, including Dallas, Houston, Augusta, Atlanta, and Miami, and promises to soon expand its presence to cities like New York, Los Angeles, and San Francisco, according to a company statement.
The additional investment will be directed towards the company’s growth in the region, talent acquisition, competency building, and infrastructure development.
The hospitality company currently offers living spaces throughout its 50 OYO Hotels in 35 cities and 10 states, led by a team of more than 350 OYOpreneurs across 15 states.
“We, at OYO, are thrilled to see our business grow in the US, our newest home market. We promise to bring new age hospitality experience at a price point you never imagined; select service hotels are finally going to be fun and beautiful," said Abhinav Sinha, chief operating officer, OYO Hotels & Homes, Global.
“We started on the belief that everyone deserves a beautifully designed, chic and comfortable living space. And everyone deserves a better life. We knew we could change the way people live. We did that by upgrading bland, generic spaces and places and designing them with next-gen chic and design moxie and offering them at hard-to-ignore prices, in Europe and the US. That said, given that there was so much movement from traditional hotels to well-designed accommodations, we knew that our guests would appreciate #LivingTheGoodLife, no matter what the price point is. For them, it is never only about the price point, it is the entire package." said Ritesh Agarwal, Founder & CEO of OYO.
Launched in 2013, OYO Hotels & Homes claims to be the world’s sixth-largest chain of hotels, homes, managed living and workspaces.
The portfolio combines fully operated, franchised and leased real estate comprising more than 23,000 hotels, and 46,000 vacation homes. Now with @Leisure Group joining the chain, OYO can be found in more than 800 cities in 74 countries, including the US, Europe, UK, India, Malaysia, Middle East, Indonesia, Philippines, and Japan.