Fast-growing hotel brand Oyo Homes & Hotels has 100 hotels operating under its banner just 10 months after launching in the UK.
The Indian hotel group, which franchises, ‘manchises’ (a franchise and management model) and leases properties and is the world’s third-largest hotel chain by room count (behind Marriott and Hilton), now operates across 25 UK cities and towns.
Since launching in the UK in October 2018 with a commitment to invest £40m in the region, Oyo now has a team of more than 275 across roles including business development, operations, transformation and marketing, with seven offices in London, Edinburgh, Glasgow, Manchester, Birmingham, Bristol and Portsmouth.
Jeremy Sanders, head of OYO UK, said: “Our rapid growth shows there’s a real appetite from hotel owners and customers alike for good quality, affordable hotels with a local touch – and we look forward to adding value to more independent hotel owners as we continue to invest and expand into new areas of the UK.”
Independent hotels pay a service fee to join the Oyo brand, while Oyo invests in the branding and upgrades to the property and takes over the revenue management of the hotel.
Since being founded in India six years ago by entrepreneur Ritesh Agarwal, Oyo Hotels & Homes has expanded its presence to nearly 23,000 Oyo-branded hotels representing more than 850,000 rooms across 800 cities. The UK was Oyo’s first expansion outside of Asia.
The company is backed by investors including AirBnB, SoftBank Vision Fund, Greenoak Capital, Sequoia India, Lightspeed India, Hero Enterprise and China Lodging Group.