Hotel chain Oyo Rooms, owned by Oravel Stays Pvt. Ltd, is looking to set up business in Indonesia, UK and some European countries. Gurugram-based company already had launched operations in China, Malaysia, Nepal, and Dubai.
Founded in 2013 by Ritesh Agarwal, Oyo has so far raised about $442 million from investors including Softbank and China Lodging Group. In March, the company was also in talks with existing investor SoftBank to raise as much as $800 million in fresh funding that could value it at over a billion dollars.
After raised about $250 million last year from SoftBank and Hero Enterprise, Oyo had pivoted from aggregation to a pure-play franchise model in December 2017. Currently, the company claims to operate 100,000 rooms in more than 230 cities in India.
The SoftBank-backed firm had recently forayed into co-living space with ‘Oyo Living’ and plans to launch operations in 5 cities including Bengaluru, NCR, and Pune with more than 10,000 beds, as reported by Entrackr.
Oyo competes with the likes of Fabhotels and Treebo.