With Acquisition Of Innov8, OYO Launches Workspaces
OYO Hotels and Homes has announced its vertical expansion into the co-working real estate segment with the introduction of OYO Workspaces. Led by Rohit Kapoor, CEO of New Real Estate Businesses, OYO Workspaces is a fully controlled workspaces solutions provider, designed to meet the needs of more than 80% of the working population in India.
This launch comes after the Gurugram-headquartered hospitality unicorn acquired the co-working space, Innov8.
OYO is bringing three co-working brands including Workflo and PowerStation in its mid to budget category, while Innov8 is part of its premium category. Powerstation provides workspaces for small and medium scale business at the right prices, while Workflo is budget-friendly co-working solution
With this launch, OYO Workspaces is launching more than 21 workspaces, with over 15K seats across 10 cities in the country.
Rohit Kapoor, CEO, New Real Estate Businesses, OYO Workspaces, said, “The workplace as a service space presents an exciting opportunity for OYO to utilise its existing technology and operational expertise. Through a targeted multi-brand strategy, we aim to provide a differentiated experience for co-workers at different price points and help expand access to co-working spaces to more and more businesses and professionals across the country.”
OYO Workspaces starts at introductory price points of Rs 7,999 & Rs 6,999 per seat, respectively. It aims to expand its presence to more than 50 centres across India by the end of 2019.