Gurugram-based Oravel Stays, which operates OYO Hotels & Homes, has partnered with hospitality firm Mountania Developers and Hospitality to set up its first luxury hotel in Ahmedabad.
Mountania recently acquired a 64-suite hotel building in Ahmedabad, which will be operated under the OYO brand.
The partnership follows OYO's initiative to collaborate with companies which will help identify and acquire assets while the hospitality unicorn will provide services to operate the properties, the company said in a statement.
The banquets within the Ahmedabad hotel's premises will be operated by OYO-owned Weddingz.in, a wedding services marketplace, the statement added.
“The global upscale and luxury hotel market is predicted to witness tremendous growth and at OYO, we want to leverage this opportunity to enable our guests to experience living the good life, even while travelling for business. We believe that our deep understanding of Indian consumers and trends coupled with our operational and technological capabilities will be a game-changer for us in the upscale segment," said Aditya Ghosh, chief executive officer, India and South Asia, OYO Hotels & Homes.
OYO was founded in 2013 by Ritesh Aggarwal and claims to be the world's third-largest chain of hotels.
It has also been steadily expanding its presence globally.
Recently, the company acquired Copenhagen-based Danamica, a data science company with machine learning capabilities.
In August, it acquired Las Vegas-based Hooters Casino Hotel. The transaction marked the first deal by the company where it has launched operations in a market by acquiring a hotel property.
Earlier this month, it was reported that the hospitality unicorn has expanded its presence to over 500 cities in India. The company also said that it has over 18,000 hotels within its ecosystem.