OYO plans to expand footprint in Odisha by doubling hotels to 400 in a year

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

SoftBank-backed global hotel chain OYO has announced that it will be doubling its presence in Odisha from 190 hotels to 400, over the next year. The announcement was made at the Make in Odisha Conclave 2018.

The company expects to generate more than 6,000 direct and indirect jobs, over the next five year, as it executes its expansion plans.

Speaking at the conclave, Ritesh Agarwal, Founder and CEO of OYO, said, “Odisha is at the cusp of emerging as the most preferred choice for investors, entrepreneurs and tourists alike. The government has introduced progressive tourism policies and the sector is also among the focus sectors for Odisha and we are glad to contribute to it in the OYO way”.

OYO launched in Odisha in August 2015. It has partnered with small and independent hotel owners and utilized its expertise in standardizing amenities and guest experiences to empower them as better hospitality players.

The hotel chain will be adding new cities like Sambalpur, Berhampur, Angul, Gopalpur, and Satpada to cater to a large audience of people coming to Odisha for business and leisure purposes.

OYO has continued its expansion both domestically, as well as internationally, while foraying into new segments.

In September 2018, OYO raised $1 billion in funding from SoftBank, propelling it into the elite unicorn club, enabling it to boost global expansion and strengthen leadership.

After the massive $1 billion funding round, OYO has expanded to new international markets like UAE and Indonesia.

In October 2018, it was reported that OYO was piloting in Japan, in order to expand its services in the country. Later, in the same month, OYO has forayed into housing rental with “Oyo Living”, to offer co-living spaces to young professionals.

The global hotel chain founded in 2013 by Ritesh Agarwal, already has a presence in over 350 cities, with more than 10,000 asset partners spread across the five countries. It has grown at a remarkable rate, with more than 250,000 franchised and leased rooms as part of the hotel chain.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Alia Bhatt sings praises for Kareena Kapoor Khan, calls her an ‘inspiration’

Alia Bhatt is among the most promising and quickly evolving young talents in the film industry. Alia has time...

Ronaldo scores 700th career goal as Portugal loses to Ukraine

Kiev (Ukraine), Oct 15 (IANS) Star striker Cristiano Ronaldo scored his 700th career goal during Portugal's match against Ukraine in the ongoing Euro 2020...

‘Call of Duty: Modern Warfare’ won’t feature any loot boxes at launch says ‘Infinity Ward’

Call of Duty 4: Modern Warfare was a huge hit back in 2007 when it intrigued the gaming community with a fascinating storyline and...

Kartik Aaryan shares his intriguing first look from ‘Pati Patni Aur Woh’

Actor Kartik Aaryan is one of the most trending faces in Bollywood right now, but back to back successful films in his kitty. He recently...

Facebook raises questions over EU ruling on removing content

San Francisco, Oct 15 (IANS) Facebook has raised objections over the European Union (EU) ruling that the bloc's member countries can not only order...
- Advertisement -

More Articles Like This