OYO announces Rs 1,400 crore investments, launches new property 'Collection O' targeting millennials
Apart from the home markets of India and China, OYO is also focusing on South East Asia and Middle East as key markets for the company.

- Mar 12, 2019,
- Updated Jun 26, 2019 9:09 PM IST
Hospitality startup OYO said Tuesday that it will invest Rs 1,400 crore ($ 200 million) in its India and South Asia businesses over 2019 as a part of efforts to increase infrastructure, strengthen technology and internal capability.
OYO also announced the launch of a new brand, Collection O hotels, to its existing portfolio of the budget to mid-segment hotel chain brands.
"Rs 1,400 crore will go in capex, technology and leadership," OYO India and South Asia CEO Aditya Ghosh told reporters in New Delhi.
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The company is also narrowing its losses as a percentage of realised value (OYO Hotels' sales run rate) year-on-year from 44.5 percent in 2016-17 to 20.3 percent in 2017-18 and 10 per cent in 2018-19, he added.
"We are committing over Rs 1,400 crore for technology investments, renovation, and managing investments for the calendar year, and will provide more, if needed, to help the team ensure continued economically efficient growth," Agarwal said.
Apart from the home markets of India and China, the company is also focusing on South East Asia and Middle East as key markets for the company, he added.
OYO is currently present in more than 500 cities across 10 countries - India, China, Malaysia, Nepal, the UK, UAE, Indonesia, Saudi Arabia, Philippines, and more recently Japan.
Also Read: E-commerce and consumer internet companies raised over $7 billion in PEVC capital in 2018: EY
(With inputs from agency)
Hospitality startup OYO said Tuesday that it will invest Rs 1,400 crore ($ 200 million) in its India and South Asia businesses over 2019 as a part of efforts to increase infrastructure, strengthen technology and internal capability.
OYO also announced the launch of a new brand, Collection O hotels, to its existing portfolio of the budget to mid-segment hotel chain brands.
"Rs 1,400 crore will go in capex, technology and leadership," OYO India and South Asia CEO Aditya Ghosh told reporters in New Delhi.
Also Read:
The company is also narrowing its losses as a percentage of realised value (OYO Hotels' sales run rate) year-on-year from 44.5 percent in 2016-17 to 20.3 percent in 2017-18 and 10 per cent in 2018-19, he added.
"We are committing over Rs 1,400 crore for technology investments, renovation, and managing investments for the calendar year, and will provide more, if needed, to help the team ensure continued economically efficient growth," Agarwal said.
Apart from the home markets of India and China, the company is also focusing on South East Asia and Middle East as key markets for the company, he added.
OYO is currently present in more than 500 cities across 10 countries - India, China, Malaysia, Nepal, the UK, UAE, Indonesia, Saudi Arabia, Philippines, and more recently Japan.
Also Read: E-commerce and consumer internet companies raised over $7 billion in PEVC capital in 2018: EY
(With inputs from agency)