The hospitality chain is planning to invest approximately Rs 382.93 crore in the UK market.
OYO Hotels has announced its foray into the United Kingdom, marking the company's first market outside Asia.
The hospitality chain is planning to invest approximately Rs 382.93 crore in the UK market. It also looks to launch in 10 cities, including Manchester, Birmingham, Glasgow, and Edinburgh, in the United Kingdom by 2020.
Ritesh Agarwal, Founder and CEO of OYO, said, "Driven by its booming domestic and international travel and budget hospitality needs, the UK presents a multi-billion dollar opportunity for OYO."
"The company is thrilled to now be able to offer its affordable, hassle-free and quality living experiences to guests across the UK and to be empowering the UK independent hoteliers with the technology and operational expertise that helps them focus on customer experience and thereby generate increased, sustainable incomes," he further added.
The UK business will be headed by British entrepreneur Jeremy Sanders. He co-founded Coco di Mama, the British restaurant chain.
Presently, OYO has its presence in over 349 cities across India, China, Malaysia, Nepal and the UK.