IPO-bound OYO looks to double number of premium hotels in India this year
IPO-bound OYO has announced plans to double the number of its premium hotels in India in 2023. The firm plans to add about 1800 premium hotels this year, with a focus on key business cities such as Bangalore, Hyderabad and Chennai in south India, Delhi, and Noida in north India, Kolkata in east India, and Mumbai in west India.
The company says it plans to support the surge in business travel by increasing its footprint across all the major business cities. “We are seeing a clear trend of people’s willingness to spend more on experiences. Therefore, hotels are now offering additional services and amenities to enhance the travel experience and make it more convenient for guests. Our expansion plan focusing on the growth of premium hotels is aligned with this trend,” said Anuj Tejpal, chief merchant officer, OYO.
OYO’s premium hotel brands include hotels such as Townhouse Oak, OYO Townhouse, Collection O, and Capital O. The company’s focus on premium hotels started in the last quarter of 2022 when it added more than 400 new premium hotels between October to December.
