Oyo is rapidly expanding in Rajasthan. The travel aggregator is opening a new hotel every 2-3 days. It also plans to build a back office to support its international operations, Ritesh Agarwal, the CEO of Oyo, mentioned during the Rising Rajasthan Summit on Tuesday.
According to the CEO, nearly 1 lakh people book their rooms at the company hotels every day in India. An almost equal number follow abroad. Thus catering to the growing demand in Rajasthan, Oyo is expanding rapidly in Rajasthan and worldwide.
Rajasthan Global Summit Attracts Well-Known Figures
The Rising Rajasthan Global Investment Summit has attracted participation from over 32 countries, including 17 partner nations like Japan, Singapore, and & Switzerland. This summit will have the participation of around 5000 delegates like Kumar Manglam Birla and Ritesh Agarwal, thus growing its importance in global business environments.
Promising Business Climate Of Rajasthan
Ritesh Agarwal mentioned the abundant talent pool and & business dynamics in Rajasthan, which makes the state a healthy breeding ground for business growth. Thus, he is utilising this ecosystem to build a business and back office for tech and finance support.
Oyo Shifting Its Model To Company Hotels
It has been criticised long enough for its operations and management; till now, hotel intermediaries have been grilled for any inefficiency or management issues created by hotels. Thus resulting in a bad mouth for Oyo.
To change this notion, Oyo launched its company-serviced hotels, thus focusing on the quality and consistency of services. Oyo directly manages these hotels, thus shifting from its traditional franchise model in India. Thus adding 700 in just one year of launch.
How Oyo is shifting to Company Services Hotels – Read The Full Article here
Oyo Expanding Globally
Oravel Stays Limited, which is the parent of Oyo, has launched its premium hotel brand SUNDAY in the UK & Middle region. This is part of expanding the premium property portfolio globally.
Oravel will operate and & manage Sunday Lansbury Heritage, a boutique luxury stay near London’s business district, Canary Wharf.
In Dubai, Oravel launched 200 key Sunday Holiday International Hotels at Burj Dubai.
In India, it has launched 3 properties so far; the first was launched in Jaipur last year.
Oravel has also announced its plans to expand in Malaysia.
What Is The Future Of Oyo?
The growth line of OYO is rising each year and is driving many people to invest in it. The OYO share price is currently trading at ₹55.
Also, read Oyo's In-Depth Financial Analysis of FY 24 Statements.
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