OYO forays into Philippines with $50 million commitment

Hospitality firm OYO has forayed into the Philippines with more than 21 franchised and leased hotels in the country. Initially, OYO will have a presence in Metro Manila, Tagaytay and Cebu. It is planning to grow to 10 cities in the country by 2020. 

The company has also committed an investment of more than $50 million over the next few years in the Philippines. OYO is aiming to generate 1,000 direct and indirect employment opportunities in the country with its operations. 

Abhinav Sinha, Chief Operating Officer (COO), OYO Hotels and Homes, said, "With its abundant natural resources and many captivating tourist sites and destinations, the Philippines offers local and foreign tourists alike endless adventures. We are positive that a great opportunity lies in front of us to build a strong and sustainable hospitality ecosystem in the country."

"With the current 21 hotels, 500 rooms we aim to grow to 20,000 rooms in 10 cities by 2020. Our growth in the country will be fuelled by strong local leadership and a team of young hospitality enthusiasts," he added.