OYO aims to become world's largest hotel chain
OYO Hotels and Rooms is aiming to have a 1 million room inventory from the existing count of 4.6 lakh. This move will help OYO to become the "world's top player from number three now".
Aditya Ghosh, OYO’s CEO, India and South Asia, said, "We will have one million rooms inventory into our fold in the near distant future. I think, it should happen in a year and a half."
The hospitality firm has set a target of 2.5 million rooms by 2023.
Currently, OYO has over 13,000 franchised and leased hotels, and more than 450,000 rooms, adding over 64,000 rooms every month, globally.
A company official said, "In India, we have over 8,700 leased and franchised hotels, and more than 164,000 rooms."
OYO owns inventories through the franchisee or lease operation model. The firm has presence in seven countries. It is planning to expand to at least 15 countries with focus on Asian nations.