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OYO Hotels enters Indonesia

OYO Hotels enters Indonesia OYO Hotels enters IndonesiaBy Anumeha Chaturvedi, ET Bureau|Updated: Oct 18, 2018, 03.57 PM IST OYO...

OYO Hotels enters Indonesia

OYO Hotels enters IndonesiaBy Anumeha Chaturvedi, ET Bureau|Updated: Oct 18, 2018, 03.57 PM IST
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OYO plans to invest $100 million into Indonesia and will look to launch in over 35 cities by 2019.
NEW DELHI: After foraying into the UK and Dubai, OYO announced the launch of its Indonesian operations on Thursday.
OYO commenced its Indonesian operations with 30 full-inventory - franchised and operated exclusive hotels and over 1000 rooms in three cities in Indonesia - Jakarta, Surabaya, and Palembang. OYO plans to invest $100 million into Indonesia and will look to launch in over 35 cities by 2019.
Ritesh Agarwal, Founder and CEO, OYO, said, "Indonesia is one of the top choices for both global and Indian travelers and with our market learnings and expertise we are ready to tap this opportunity. This expansion is in line with our quest to support the country’s hospitality ecosystem and creating infrastructure for asset owners to grow and run successful businesses, all of this while ensuring high standards of quality. We want our potential guests and partners to know that with OYO Hotels they’ve found a trusted solution for all their travel and business needs. We intend to invest over $100 million in this high growth market and plan to expand to the top 35 cities in Indonesia, including Yogyakarta, Bandung, Bali, over the next 15 months.”
At the time of entry, the properties will be operated under models of manchise, lease with full - inventory control similar to other markets like India and China.
Read more onOYOecosystemcreating infrastructurefranchising assetsRitesh Agarwal

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Source: Google News Indonesia | Netizen 24 Indonesia

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