OYO Hotels Ventures into the UK, Plans to Invest £40M to Launch in 10 Cities
By 2020, OYO plans to hire 100 people in cities across the UK and host guests in over 5000 rooms
OYO Hotels, South Asia’s largest hospitality chain, has announced its foray into London, the United Kingdom, its first market beyond Asia. The company plans to invest £40 million into the UK and will look to launch in 10 cities, including Manchester, Birmingham, Glasgow, and Edinburgh in the United Kingdom (UK) by 2020. Starting operations with four beautiful properties in London that offer more than 80 rooms, OYO plans to delight customers looking for quality living experiences at affordable prices, with a selection of over 5000+ rooms in the next 15 - 18 months. With this launch, OYO Hotels is all set to etch its international footprint, while reiterating its leadership in the South Asian countries. OYO was welcomed in the UK, at a special event, in the presence of chief guests, honorable Indian High Commissioner to the UK, Mr. Y K Sinha and Craig Harrison, Director, Inward Investment at London & Partners.
Announcing the launch event in London, the Indian High Commissioner to the UK, Mr. Y K Sinha, said, ''OYO has established itself as a strong and popular Indian brand in South Asia and I am happy to see the company making a commitment to invest in creating beautiful living spaces in the United Kingdom. I convey my best wishes to the OYO team for their future endeavours.''
Commenting on the development, Ritesh Agarwal, Founder & CEO – OYO said, “The UK has been the topmost international travel destination for several years and last year hosted over 19 million tourists from around the world. Driven by its booming domestic and international travel and budget hospitality needs, the UK presents a multi-billion dollar opportunity for OYO. We are thrilled to now be able to offer OYO’s affordable, hassle-free and quality living experiences to guests across the UK. - and to be empowering the UK independent hoteliers with the technology and operational expertise that helps them focus on customer experience and thereby generate increased, sustainable incomes.”
The UK business will be led by British entrepreneur Jeremy Sanders, who co-founded the British restaurant chain, Coco di Mama. Over the next year, they will aim to build out the team by hiring an additional 100 OYOpreneurs (employees empowered to function like entrepreneurs) across the country.
Jeremy Sanders, Head of OYO UK, said: “I am very excited to be leading OYO’s expansion into the UK, one of the most dynamic hospitality markets in the world. We want to become the trusted partner of independent hotels across the UK and, as we’ve experienced in Asia, we are confident that our bespoke technology and operational expertise brings real value to hotel owners and customers alike. There is so much potential here - I and the team cannot wait to get started.”
At the time of entry, OYO will offer guests the OYO Townhouse experience - perfectly suited for the needs of millennial travelers, aspiring for high quality accommodations. These properties will be operated under models of manchise, lease with full - inventory control similar to other markets like India and China. These hotels will provide affordable and trusted living options for both Indian and International tourists, business travelers, and local city-dwellers.
OYO Hotels is having footprints in more than 349 cities across India, China, Malaysia, Nepal, and the UK. It is backed by leading investors, including the SoftBank Group, Greenoak Capital, Sequoia India, Lightspeed India, Hero Enterprise and China Lodging Group.
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