Construction Reporter
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy
  • Employment Opportunity

fast-growing hotel chain planning for even more growth

3/10/2020

0 Comments

 
Picture
Based in Bengaluru (Bangalore, India), Oyo Hotels and Homes are launching an aggressive expansion effort on the heels of 2019 revenues in excess of $951 million.

Regarded in the industry as the fastest growing hotel chain in the world, Oyo now has more than 50 hotels across the U.S., but has said that it plans to invest at least $300 million to build more.

The trendy hotels with their starkly designed rooms offer shared work and kitchen space, a common laundry room, libraries, and WiFi, with guests being able to book stays at other locations through the OYO Rooms app.

But perhaps the greatest appeal of the brand is the price of its rooms, which on average is below $50 a night.

Last year Oyo founder Ritesh Agarwal even said that ideally he would like to open at least five new hotels a day in the U.S.

The U.S. expansion comes as the company has also committed to building new locations in China, Great Britain and in several Latin American countries.

In the last 12 months, the company launched more than 400 hotels in just Mexico alone.

Last month an Oyo spokesperson told the New York Times that the company was taking steps to “optimize and strengthen our business.”

That effort, the spokesperson continued, includes “balancing the speed of our expansion with our operational capabilities, ensuring our growth is sustainable and maintaining our commitment to excellence across the board.”

Since 2019 Oyo has renovated existing structures and opened new properties in Atlanta, Augusta, Dallas, Denver, and Houston, among other cities.
​
The company has not yet announced where its future locations will be, but some analysts are predicting growth in the West and South, with at least five hundred OYO hotels open for business in the U.S. by early next year.

​By Garry Boulard

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Get stories like these right to your inbox.
    ​Sign up for our newsletter

    Subscribe

    Archives

    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017

    Categories

    All

AFFILIATES

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
HOME
PLANS & PRICING
FREE TRIAL
MAGAZINE​
BECOME A MEMBER
PRINTING SERVICES
FAQS
CONTACT
​ABOUT

TIMELY, RELIABLE NEWS SINCE 1949 ​Construction Reporter
​
4901 Mcleod Rd NE STE 200A
Albuquerque NM 87109


​Phone: (505)-243-9793
Toll Free: (877)-292-5793
​Fax: (505)-242-4758

Copyright © 2022 Construction Reporter
User Agreement   Privacy Policy   Archive Policy
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy
  • Employment Opportunity