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OYO expands footprint in Vietnam; to invest $ 50 million
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OYO expands footprint in Vietnam; to invest $ 50 million

Agency News

New Delhi, Jul 2 : Franchised and leased hotel chain OYO Hotels & Homes on Tuesday announced its expansion in South East Asian country Vietnam.

The company also eyes spot to become the leading hotel chain in Indonesia with 1,082 hotels having already joined OYO’s chain - 720 hotels are fully operational and more than 300 upcoming hotels that are under transformation - with a total of 19,750 rooms spread across 80 cities.

"Philippines and Malaysia also reported continuing growth in assets under management with 8,000 and 1,300 exclusive rooms, respectively," the company statement added.

"Starting with over 90 franchised hotels, spread across 6 cities, including Hanoi, Ho Chi Minh, Da Nang, Phu Quoc, Vang Tau and Nha Trang, OYO Hotels plans to expand its footprint to 10 cities in Vietnam by 2020-end," said Dushyant Dwibedy, Country Head - OYO Vietnam in a statement.

The hospitality chain has also committed an investment of over $50 million over the next few years in the country with the mission of transforming its hospitality landscape and creating quality affordable accommodations.

As a part of its continued commitment to the country, OYO Hotels aims to generate over 1,500 direct and indirect jobs that will help support the economic trajectory of Vietnam.

In Indonesia, the company’s continuous focus on guest experience and improved hotel owner incomes has fueled its exponential growth within 8 months as it scales towards becoming the country’s top hotel chain with 20,000 rooms under management in 720 hotels across 80 cities.

This marks a phenomenal 20x growth trajectory since launch.

"OYO has more than 300 upcoming hotels that are under transformation across Indonesia, and will presumably go live over the next 2 months," it was stated. (UNI)