After China, UK, Oyo to expand international footprint with foray into Philippines, onboards 10 properties

  • Oyo ventured into international markets in 2016

  • Talks are on to add more locations at a quick pace in Philippines

  • Currently, Oyo has over 13,000 franchised and leased hotels, and over 4.5 lakh rooms

New Delhi: After markets like China and the UK, Indian hospitality chain OYO is looking at further expanding its international footprint with its foray into the Philippines, according to sources.

The SoftBank-backed company, which ventured into international markets in 2016, already has a presence in the UK, the UAE, China, Indonesia, Malaysia, and Nepal.

OYO has already onboarded 10 properties and talks are on to add more locations at a quick pace, two people familiar with the company's plans said.

It intends to expand the number aggressively to tap into the $5 billion opportunity in Philippines market, one of the persons said.

 After China, UK, Oyo to expand international footprint with foray into Philippines, onboards 10 properties

A file photo of Oyo Rooms CEO and founder, Ritesh Agarwal

E-mails sent to the company did not elicit any response.

OYO CEO India and South Asia, Aditya Ghosh, in an interview to PTI, had said the company is working on a road map for 1-million (10 lakh) room inventory over the next two years from the existing count of over 4.5 lakh.

The company aims to further expand this to 2.5 million rooms by 2023. This, he said, will help OYO to become the "world's top player from number three now".

At present, OYO has over 13,000 franchised and leased hotels, and over 4.5 lakh rooms, adding over 64,000 rooms every month, globally. In India, it has over 8,700 leased and franchised hotels, and more than 1.64 lakh rooms.

 

 

To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.

To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.

Updated Date: Jan 21, 2019 12:30:17 IST