Hotline: 1800 102 2007
Hotline: 1800 102 2007
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.

OYO plans to add over 1 million rooms by 2023

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. 

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Food Service
    About Us: ​Cake Me Away is a renowned bakery, offering sweet..
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 180
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Beauty Salons
    About Us: Studio99 – Unisex Salons & Spa- A journey from Coffee..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Quick Service Restaurants
    About Us: Waf Bites restaurant offers the unbeatable combination of good..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 50
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Preschools
    About Us: GD Goenka Group, established in 1982, has had varied..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities