OYO adds 12th 100-room hotel to its portfolio
Representative image
OYO is betting big on the Indian hotel market by 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, it 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. Currently, OYO has already partnered with 12 such hotels and is managing them across markets including Delhi, Goa, Bengaluru, Tirupati, Hyderabad, Noida, Vrindavan and Patna.
Commenting on the milestone, Maninder Gulati, Chief Strategy Officer, OYO said, “This excitement we are witnessing in the large 100+ rooms property space post establishing our market leadership with 75,000 keys in boutique and small assets is a testament of the strong and trusted brand we have created with our asset partners and customers.”
In the past year, Oyo on-boarded over 10+ such hotels with inventory ranging from 100-200 rooms and another 10+ 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. 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," Gulati said.