India’s largest hospitality group, OYO said it will launch its hospitality chain in the United Kingdom.
OYO said it will invest up to $53 million to fund its expansion into the UK by signing up close to 300 independent hotels by the end of 2019.
The company will be coming into a market dominated by Whitbread’s Premier Inn chain as well as private equity-backed Travelodge and Holiday Inn Express, a unit of Intercontinental Hotels Group.
Ritesh Agarwal, the company’s 24-year-old founder, told Reuters News via a phone interview that OYO aims to select hotels from among Britain’s 35,000-40,000 independent operators, offering interior redesign and revenue management services to help them compete.
According to data disclosed by OYO, it has since its 2013 startup date become South Asia’s fastest growing hotel chain, with a network of 211,000 rooms in 349 cities.