OYO emerges as the world’s third largest hotel chain
OYO Hotels & Homes has emerged as the world’s third largest hotel chain, in terms of room count. US and Europe emerged as the hospitality firm’s strong growth drivers.
Since inception, OYO has expanded its presence to more than 800 cities, nearly over 23,000 OYO-branded hotels and 850,000 rooms. The company also claims to have created more than 300,000 direct and indirect job opportunities across India, China, US, and the UK.
Ritesh Agarwal, Founder & CEO (Group), OYO Hotels & Homes, said, “We started with a simple mission of creating quality living spaces. Over 500,000 heads rest on OYO hotel pillows daily today, a testament to the impact we are creating globally. In the last six years, we have enabled job opportunities for over 300,000 young people across India, China, U.S., and the U.K. and will continue to support the growth of the Hospitality, Travel and Tourism industry around the world.”
“I am happy to see that real estate owners continue to see value in working with OYO Hotels while witnessing an increase of approximately 30% in occupancy, a 2.5X jump in RevPar and profits. This is a strong validation of the impact we have on their business, both at customer experience and revenue levels. Today, we are a small percentage of the world’s accommodation market, and we have an incredible opportunity ahead of us. We are just getting started,” he added.