JAKARTA (TheInsiderStories) – An Indian hotel chain, OYO Hotels and Homes, plans to increase its investment by more than US$100 million for the next five years. The decision taken after seeing the positive growth of its business in Indonesia in the past five months.
Country Head for OYO Indonesia Rishabh Gupta, said that the company’ business expansion in Indonesia had positive results. Since its launch in Indonesia in October. OYO has reached 52 cities and employs 750 local workers.
“We will invest more than $100 million in the market after this high growth,” he said in a written statement released on Monday (01/04).
Gupta explained, OYO would also expand its reach in Indonesia by being present in the top 100 cities in Indonesia, including Yogyakarta, Bandung, Surabaya and Bali until the end of 2019.
“We intend to invest more than $100 million in this high growth market and plan to expand our presence to the top 100 cities in Indonesia,” he added.
Gupta claims the OYO hotel booking platform has significantly increased its partner business. OYO has reportedly added 70 hotels every month to its portfolio in Indonesia, and currently operates 150 hotels in 16 cities.
“We have never been present in a country with the identity or workings of multinational companies. We are present in Indonesia with the mindset of local companies that see opportunities to emulate the success of the OYO business model to create unique and relevant work results for Indonesia, and now the results are visible, “he said.
In its official statement, OYO stated that the increase in the rate of hotel bookings from partners could reach 75 percent. OYO also claimed to have partnered with more than 500 hotel and lodging owners.
OYO is indeed quite expansive and aggressive in Indonesia. In the past five months, OYO has partnered with more than 500 property owners and managed more than 530 hotels and 12,250 exclusive rooms in 52 cities. Of the 530 properties, around 310 hotels are already in operation, while others are under transformation.
Now, more than 65 percent of OYO hotels get an 8+ score on the review score at Booking.com, when compared to only 30 percent of the properties of all hotels in Indonesia which are ranked 8+.
Globally, OYO Hotels and Homes operates in more than 500 cities in India, China, Malaysia, Nepal, United Kingdom, United Arab Emirates, Saudi Arabia, Philippines, Indonesia and Japan.
OYO has also operated more than 515,000 rooms as of January 2019, and added more rooms to its network compared to the combined rooms of the world’s top three hotel chains.
Written by Daniel Deha, Email: firstname.lastname@example.org