OYO Hotels strengthen its international presence; ventures into China
OYO Hotels, South Asia’s largest hospitality chain, today announced its foray into China with a strong focus on strengthening its hotel chain in the country. With this launch, OYO Hotels is all set to substantiate its leadership in the market while working towards its mission of bringing great living spaces in the country in the form of well-designed small hotels while introducing best-in-class training and education in the sector. Its current chain comprises of over 11,000 exclusive - franchised or manchised - rooms in 26 cities including Hangzhou, Xian, Nanjing, Guangzhou, Chengdu, Shenzhen, Xiamen and Kunming among others.
Commenting on the development, Ritesh Agarwal, Founder & CEO – OYO said: “After our successful overseas expansion and operations in Malaysia and Nepal, we are thrilled to offer OYO hotels hassle-free and standardized stay experience to guests in China. The country’s tourism industry is on the cusp of booming and flourishing wherein it enjoys a strong influx of both domestic and international tourists; also the market is as fragmented as the Indian hotel market. With our expertise in managing chain of hotels backed by technological innovations, we will further continue to strengthen our footprint while empowering neighbourhood hotels to emerge in the same league as the big boys of hospitality.”
China is the third overseas market for OYO, after its successful venture into Malaysia and Nepal where it has grown multifold. The company will be working towards transforming the region’s hospitality industry by introducing its strong hotel brand and operating solutions for ensuring a seamless experience for both guests and asset partners while generating lucrative job opportunities for locals in smaller tier provinces.
“We’ve been at the forefront of the small and budget hotels revolution in India, Malaysia and Nepal. Building the category of small-unique hotels grounds-up, we have employed design and operational acumen to deliver delight to our customers and unparalleled benefits to assets ensuring high yield. The expansion is in line with our mission of creating beautiful living spaces by empowering hotel owners to become better hospitality players while ensuring an end-to-end controlled experience for our guests. The launch will provide an affordable and trusted stay option for both Indian and International tourists, business travellers and local city-dwellers” adds Ritesh Agarwal.
OYO is an urban innovator which has successfully tackled the problem of the lack of equilibrium between demand and supply of quality living space. Using in-house technology and talent to fix this socio-economic problem, it has transformed over 5,000 exclusive hotels in its chain through multiple formats including franchise, manchise and leased. The company’s idea was incubated in a single hotel and its genesis lies in creating beautiful living spaces and changing the way people stay away from home. Over half a decade, OYO hotels has built distribution, operational and transformational, construction capabilities which will fuel its expansion strategy in the near future.