OYO Hotels, South Asia’s largest network of hotels, has today announced plans to invest £40 million in the UK by 2020. Since being founded in 2013, the company has become the world’s fastest growing hotel chain with a network of 211, 000 rooms in 349 cities. Its launch in the UK, the first market outside of Asia, marks a milestone for the company’s international growth.
Founded by 24-year-old Indian entrepreneur Ritesh Agarwal, OYO Hotels plans to introduce its low-cost, user-friendly, quality living experiences through 300 hotels and over 5,000 rooms by 2020. The initial investment will see OYO Hotels launch in cities across the UK including London, Manchester, Birmingham and Edinburgh.
Ritesh Agarwal, Founder & CEO of OYO said: “OYO Hotels has been the forefront of the small and budget hotels revolution in India, China, Malaysia and Nepal. The UK is one of the world’s most visited countries, and so we are thrilled to now be able to offer OYO’s affordable, hassle-free and quality living experiences to guests across the UK. Our countries have strong ties and we are pleased to be partnering with UK hoteliers to help them generate increased, sustainable incomes while bringing great living spaces, jobs and tourism to the British economy. ”
The UK business will be led by British entrepreneur Jeremy Sanders, who co-founded the British restaurant chain, Coco di Mama. Over the next year, OYO Hotels aims to build out the UK team by hiring an additional 100 employees across the country.
Jeremy Sanders, Head of OYO Hotels UK, said: “I am very excited to be leading OYO’s expansion into the UK, one of the most dynamic hospitality markets in the world. We want to become the trusted partner of independent hotels across the UK. As we’ve experienced in Asia, we are confident that our bespoke technology and operational expertise brings real value to hotel owners and customers alike. There is so much potential here – I and the team cannot wait to get started.”
Announcing the launch at an event in London, the Indian High Commissioner to the UK, Mr. Y K Sinha, said, ”OYO Hotels has established itself as a strong and popular Indian brand in South Asia and I am happy to see the company making a commitment to invest in creating beautiful living spaces in the United Kingdom. I convey my best wishes to the OYO team for their future endeavours.”
OYO Hotels partners with small-scale hoteliers, sharing their expertise and capabilities to help owners harness the power of technology to transform their service. Through the use of user-friendly apps and intelligent technologies developed for both consumers and owners, OYO empowers hoteliers to attract new customers and provide high-quality, efficient accommodation – ultimately improving occupancy and profitability.
At the time of entry, OYO Hotels will offer guests the OYO Townhouse experience – perfectly suited for the needs of millennial travelers, aspiring for high quality accommodation. Properties will be operated under models of franchise, manchise, lease with full – inventory control similar to other markets like India and China. These hotels will provide affordable and trusted living options for both Indian and international tourists, business travelers, and local city-dwellers.