Presently, the Softbank-backed company has 45 Townhouse hotels.
With an aim to expand its Townhouse brand, OYO is planning to launch 400-500 OYO Townhouse hotels by next year. Presently, the Softbank-backed company has 45 Townhouse hotels.
Last month, OYO ventured into the UK by opening Townhouse hotels in London. It is looking to deepen the Townhouse presence in the UK and Indian cities, including Guwahati, Vijaywada, Lucknow, Surat, Nagpur and Pondicherry among others.
Ankit Tandon, COO of OYO Townhouse, said, "The growth will be deeper and sharper and Townhouse hotels will increase month on month. We are aggressively pushing this product. By 2019, Townhouse will expand to many more cities in India, and also grow aggressively in foreign markets."
The Townhouse brand targets the millennial business travelers due to its high price as compared to the pocket-friendly OYO Rooms. It is providing amenities such as café, 24/7 kitchen, printer, white boards and other business services. The brand is operated by OYO on the leasing and management contract models with 60% management contracts and 40% leased arrangements.
"We expect the structure to continue in a similar way. We are open to both models. With funds coming in, we are looking at investing a significant share in the Townhouse brand," Ankit added.