OYO Rooms, Indian-grown hospitality, and budget hotel network have announced its plans of foraying and strengthening its presence in China.
According to an ET report, OYO made its debut into China by starting services in Shenzhen with the listing of 400 rooms across 8 hotels, citing sources close to the development.
In an announcement on Wednesday, company stated its thrilled to offer OYO experience to guests in China, after its successful overseas expansion and operations in Malaysia and Nepal. Currently, OYO operates around 11,000 rooms (exclusive and franchised) across 26 Chinese cities (including Xian, Guangzhou, Chengdu, Hangzhou, and Kunming).
China will be the third international destination for OYO Rooms after they ventured into Malaysia and Nepal last year. The company aims to focus on small tier cities, and it expects international and local tourists to play a major part in building their business.
In a statement, OYO Rooms CEO Ritesh Agarwal said, “The expansion is in line with our mission of creating beautiful living spaces by empowering hotel owners to become better hospitality players while ensuring an end-to-end controlled experience for our guests. The launch will provide an affordable and trusted stay option for both Indian and international tourists, business travelers and local city-dwellers”.
OYO also hopes to improve local job opportunities, alongside creating a seamless experience for both its asset partners and guests.
The budget hotel network group, started by Ritesh Agarwal at a young age of 19, counts Japan’s Softbank, Sequoia Partners and, Lightspeed among its various prominent investors. It has operations across more than 200 cities in India and manages more than 8500 properties, according to its website. The company now around 5 years old, is facing a stiff competition from Fab Hotels and Treebo.