Oyo now has more than 11,000 hotel rooms across 26 Chinese cities, including Hangzhou, Xian and Guangzhou
Hotel chain Oyo is expanding its China business, its third overseas market. Oyo, which is owned and operated by Oravel Stays Pvt. Ltd, has more than 11,000 rooms across 26 Chinese cities, including Hangzhou, Xian and Guangzhou.
Commenting on the development, Ritesh Agarwal, Founder & CEO of 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 neighborhood hotels to emerge in the same league as the big boys of hospitality.”
China is the third overseas market for OYO, after its venture into Malaysia and Nepal where it has grown multifold. “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,” added Ritesh Agarwal.
“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 a 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,” he said.
Founded in 2013, Oyo operates in more than 150 cities across India, China, Malaysia and Nepal. The company is set to become a unicorn, a start-up valued at $1 billion or more, when it raises the next round of capital.
Oyo is part of a small bunch of Indian startups, including cab-hailing app Ola and eyewear retailer Lenskart, that are expanding overseas.
