OYO rooms, India’s largest hotel chain and World’s largest hotel chain by 2023, commits to invest $200 (Rs 1,400-Crore) million in India & Nepal business.
The company recently received $1 billion in funding from SoftBank. According to Aditya Ghosh, CEO India and South Asia of Oyo, “The money will go in capex, technology and leadership,”.
At the time writing, Oyo Rooms is currently available across 259 cities with 8,700 buildings and 173,000 rooms in India. If we talk about globally, the company is now present in 10 countries and over 500 cities.
In addition, the company wants to further widen its presence across India while focusing on aggressive capacity building.
“With a strong balance sheet, today we can go to more places than ever, introduce new categories, invest in our assets, while maintaining our high-quality standards, without raising any further capital,” said Ritesh Agarwal, Founder and Group CEO.