Oyo parent Oravel Stays plans to launch 13 premium hotels this year
Oravel Stays, the parent company of hospitality major Oyo, on Thursday announced plans to launch 13 premium hotels under the Palette brand by the end of this year. Last year, the company started a pilot by setting up 10 Palette resorts in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bengaluru. This will bring the total number of hotels under the Palette brand to 23.
The Palette hotels will operate on a similar “self-operated” model as Oyo’s hotels. The move will, therefore, not prove very capital-intensive for the company. This will be the restarting of the self-operated model by the company which was discontinued in 2020.
Oravel Stays said that Morbi, known as India’s ceramic capital, is a key economic hub in Gujarat. The district is home to over 800 tile factories, accounting for 90 per cent of India’s tile production, with an annual turnover of about Rs 50,000 crore. “We are excited to launch our first self-operated Palette hotel in Gujarat, and what better city to start with than Morbi. With its booming economic scene and growing business opportunities, Morbi is an important market for us,” said Aditya Sharma, Business Head, Oravel Stays.
