Hotline: 1800 102 2007
X
Search Business Opportunities
Nov, 29 2018

OYO plans to add over 1 million rooms by 2023

The SoftBank funded start-up aims to emerge as the world's largest hotel brand by room count, overtaking Marriott.

India's largest hotel brand OYO is planning to add more than 1 million rooms globally over the next four to five years. The SoftBank funded start-up aims to emerge as the world’s largest hotel brand by room count, overtaking Marriott.

Presently, American hospitality major Marriott is the world's largest hotel brand with approximately 1.4 million keys.

Ritesh Agarwal, Founder and Group Chief Executive Officer at OYO Hotels, said, "We aspire to be the world's largest hotel company built out of Asia with home markets of India and China. Currently, Marriott is the largest and we have a lot of respect for the company. We aspire to be bigger than that. We have already built in the growth rate at which they have been growing in the last couple of years to set our target for 2023."

OYO has expanded its operations from just twenty rooms and a single hotel brand to 330,000 rooms across more than 12,000 franchised/managed hotels.

"We are adding over 50,000 new keys per month. It is a pretty meaningful scale which also puts us in the league of the world’s fastest growing hotel chain," Agarwal added. 

Comment
Related opportunities
  • Ice creams & Yogurt Parlors
    About Us: Nirula's is India's oldest fast food restaurant chain. Based..
    Locations looking for expansion Delhi
    Establishment year 1950
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: F-MART  Retails is planning to open 10000 within 5..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Courier & Delivery
    About US. World Health Care Mart Is a Leading Teleshopping..
    Locations looking for expansion Madhya pradesh
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size
    Space required 100
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Indore Madhya pradesh
  • About Us  VIP Academy is one of gujarat`s renowned  chains of..
    Locations looking for expansion Delhi
    Establishment year 1996
    Franchising Launch Date 2013
    Investment size Rs. 5lac - 10lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities