Comments
OYO Hotels, on Wednesday announced its foray into the United Kingdom which will be company’s first market outside Asia. The hospitality chain will start its operation with four properties in London where it currently has 80 rooms to offer. In the next 15-18 months, it plans to have around 5000 rooms in the city.
The firm also plans to invest £40 million in the UK and will look to launch in 10 cities, including Manchester, Birmingham, Glasgow, and Edinburgh in the United Kingdom (UK) by 2020.
“The UK has been the topmost international travel destination for several years and last year hosted over 19 million tourists from around the world. Driven by its booming domestic and international travel and budget hospitality needs, the UK presents a multi-billion dollar opportunity for OYO”, said Ritesh Agarwal, Founder and CEO, OYO.
These properties will be operated under models of manchise, lease with full - inventory control similar to other markets like India and China.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.