It would be entering some more European countries as well as Japan soon to cash in on the upcoming Olympic Games in 2020
OYO Hotels, South Asia's largest hotel chain, is aiming to emerge as the world's biggest within one-and-a-half years time, it's recently appointed CEO of South Asia, Aditya Ghosh said.
OYO plans to double the number of countries it is present in, from about seven now, including China and the UK. It would be entering some more European countries as well as Japan soon to cash in on the upcoming Olympic Games in 2020.
"Right now we're focused on growing the brand and increasing the supply. We have now about 4,50,000 rooms globally and in the not-so-distant future we should be having about 1 million rooms which would make OYO the largest branded hotel chain in the world," Aditya Ghosh, chief executive officer of India and South Asia at OYO said, adding that it might happen within about one-and-a-half years' time.
Apart from India, OYO has footprint in Nepal, Malaysia, Indonesia, UAE, UK and China.
And plans are being executed to get into a total of 15 countries globally, including those in SE Asia and Europe.
"While we are the largest in South Asia, we see huge opportunities here and just scratching the surface," Ghosh said.
OYO derives its highest revenue from India, but China is now its biggest market in terms of inventory.
"We are treating China as a home country like we treat India as one," Ghosh said on the sidelines of Destination East conference organised by Confederation of Indian Industry.
It also has big plans for Japan.
"We are the largest hotel chain in Indonesia and intend to become the largest in Japan before the Olympics," he said.
The expansion would be fuelled by $1 billion it raised from SoftBank, Sequoia Capital and Lightspeed Venture.
OYO now has over 13,000 franchised and leased hotels aggregating 450,000 rooms around the world, adding over 64,000 rooms every month.
In India, it has over 8,700 leased and franchised hotels and over 164,000 rooms in over 180 cities.
The hospitality chain now offers rooms through several brands, from the bottom-of-the-pyramid budget rooms to town houses at rates ranging from Rs 900 a night to Rs 4,000.
Beyond hotel rooms, OYO also offers long term rented rooms under OYO Living.
"In each of these segments we are the largest operator in India. Like what we did in the hotel space, we also standardised co-living and paying guest spaces," Ghosh said.
ROOM WITH A VIEW
- 1 million – rooms OYO plans to add in one-and-a-half years
- 4,50,000 – rooms the aggregator currently has
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