OYO enters Vietnam to expand presence in Southeast Asia
Gurugram-based Oravel Stays and Pvt. Ltd, which operates hospitality chain OYO, has entered Vietnam as it continues to strengthen its presence in Southeast Asia.
“Vietnam is an important market for us in Southeast Asia. Our priority here is to ensure that we bring OYO Hotels’ top-notch service to the country, with the goal to become Vietnam’s most loved hotel chain,” said Dushyant Dwibedy, country head, OYO Vietnam.
Oyo said it has started with over 90 franchised hotels in six cities, including Hanoi and Ho Chi Minh and that it plans to expand its footprint to 10 cities in Vietnam by the end of 2020.
Dwibedy said,” We aim to grow to 10 cities and 20,000 rooms by 2020-end while becoming a household name for both local and international travellers in Vietnam. Our growth in the country will be fueled by strong local leadership and a team of hundreds of young hospitality enthusiasts.”
The hospitality company also aims to become the leading hotel chain in Indonesia with 1,082 hotels having already joined OYO’s chain - 720 hotels are fully operational and more than 300 upcoming hotels that are under transformation - with a total of 19,750 rooms spread across 80 cities.
Further, the Philippines and Malaysia reported continuing growth in assets under management with 8,000 and 1,300 exclusive rooms, respectively.
The company said its focus on guest experience and improved hotel owner incomes has fueled its exponential growth within eight months in Indonesia as it scales towards becoming the country’s top hotel chain.
“Indonesia is a very important market for us and we have already committed over $100 million investment. We will continue to expand our network into more than 100 cities by the end of 2019,” said Rishabh Gupta, Country Head - OYO Indonesia
The hospitality chain plans to invest over $50 million over the next few years in the country with the mission of transforming its hospitality landscape and creating quality affordable accommodations, it added.