India-based global hospitality chain says working on an aggressive expansion plan in the GCC market
India-based global hospitality chain OYO Hotels & Homes is working on an aggressive expansion plan in the GCC market.
The company plans to take its total rooms under management to 12,000 rooms in 150 hotels across UAE by 2020, a senior executive of the company has said.
OYO has welcomed over 100,000 guests from 78 countries across 1,700 rooms in 80 plus hotels and homes since its launch in the UAE last year.
“We are witnessing a sustained increase in bookings from some of the countries, especially from India and China since we established our footprint in UAE. To address this growing demand in the near future, OYO plans to touch close to 12,000 rooms across 150 hotels in all the seven Emirates in UAE by 2020,” said Manu Midha, regional head, Middle East, OYO Hotels & Homes.
Midha said OYO is working closely with asset owners across UAE to accommodate this burgeoning demand.
“Dubai is set to attract 25 million visitors by 2025, and these visitors will comprise of a mix of trade and leisure visitors. With close to 190 nations signed up for the multi-billion dollar Expo, we are confident that we will be able to support the inbound trade visitors,” the executive said.
OYO said bookings from India and China constitute nearly 25 percent of its total bookings and are on the rise for the upcoming summer months.
“With over 1,000 weekly flights between India and UAE, coupled with the visa on arrival status for Chinese tourists, UAE is now one of the most sought after destinations for tourists from these two countries. OYO, with its presence across five emirates, including Dubai, Sharjah, Fujairah, Ras Al Khaimah, Ajman and over 80 hotels and homes is hosting thousands of discerning travellers,” the company added in a statement on Monday.
“We predict 75 percent plus occupancy rate across all OYO hotels and homes during the upcoming summer months,” Midha said.
OYO is backed by investors such as the SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Hero Enterprise, and China Lodging Group.