Oyo expands international presence with Philippines foray; to invest over $50 mn, aims to create 1,000 jobs

New Delhi: Hospitality firm Oyo on Wednesday said it has launched operations in Philippines with over 21 franchised and leased hotels in the country. [caption id=“attachment_4496453” align=“alignleft” width=“380”] Representational image. Reuters[/caption] Philippines is the eighth market for Oyo. Besides India, the firm is also present in China, Malaysia, Nepal, the UK, the UAE and Indonesia, the company said in a statement. The hospitality firm has also committed an investment of over $50 million over the next few years in Philippines and aims to generate 1,000 direct and indirect employment opportunities there, it added. “We believe that by setting foot in the Philippines, we are advancing our vision of strengthening our foothold in Southeast Asia,” Oyo Hotels and Homes COO Abhinav Sinha said. From 21 hotels and 500 rooms currently, Oyo aims to grow to 20,000 rooms in 10 cities by 2020 while becoming a household name for both local and international travellers visiting Philippines, he added. “Our growth in the country will be fuelled by a strong local leadership and a team of young hospitality enthusiasts,” Sinha said. Oyo currently has over 13,000 franchised or leased hotels and over 3,000 homes as part of its network.     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.