OYO Launching New brand ‘Collection O’ with a Commitment of Rs 1400 Cr for India and SA Biz

The SoftBank-backed OYO on coming days is going to expand its venture globally as well as locally, its core hospitality business in various overseas markets, it’s making debuts in several segments such as event management, co-living, foodtech, and co-working in India and setting a record as far as overseas expansion is concerned. Starting from the Chinese market to SEA, Europe, US and Japan, the company has been making the headlines for the past six months.

Beside the expansion planning it has been experimenting with few new products be it cloud kitchen, co-living, and co-working. In a nutshell, OYO has created a buzz around what its next plan is going to be.

Ritesh Agarwal-led company OYO is launching a new product called ‘Collection O’. The new brand will be primarily focused on providing quality accommodation to its customers.

As of now, the company has started with 12 hotels under the new facility and it aims to add 650 hotels with more than 20,000 rooms by the end of 2019.

During an event at India Habitat Centre, OYO has announced that it will put in Rs 1,400 crore in the Indian and South Asian business over the course of time. The fresh capital will be deployed towards hiring people and ramping up technology and upgrading the infrastructure of partners, hotels etc.

“Key priorities as identified by the business for the year include delivering superior quality of product and service for every Oyo brand with a focus on safety and security, winning hearts and minds while expanding our presence deep and wide, a focused fast-paced growth while making partnering with OYO the most attractive entrepreneurial opportunity for asset owners, a greater and deeper engagement among all OYO preneurs and continuously evolve to become the most-loved hotel brand, ” Aditya Ghosh, CEO, India and South Asia  said in a statement.

It will be an add on to OYO exclusive offering where it has been claiming to provide uncompromising facilities to its customers.

With Collection O launch, India hotels brand portfolio alone to grow to 6 including OYORooms, Townhouse, SilverKey, Capital O, Palette Resorts.

Globally, OYO Hotels & Homes is now present in 10 countries, over 500 cities, and hosts millions of guests from around the world in over 18,000 buildings (hotels & homes) and over 515,000 rooms with OYO Hotels’ sales run-rate at December ended 2018 at $1.8 billion – growing 4.3X year-on-year.

With seven brands catering to the budget to mid-scale hotel segment, Oyo aims to further grow its corporate customer base this year and has already signed over 16000+ corporates. Its recently launched Collection O is an offering that aims to be a mid-scale business hotel that caters to this burgeoning segment

“We are staring at a social revolution that manifests itself in terms of how a truly global brand out of India is not just reimagining hotels & reinventing living spaces, but in the process, enabling an entire ecosystem of micro, small and medium entrepreneurs as well as ancillary industries. All while creating hundreds of thousands of jobs opportunities. Having generated over 100,000 jobs in India alone through over 26 OSI’s, we are committed to making sure that the hospitality sector remains a driver of innovation and employment in the country with OYO Hotels and Homes as a key enabler of the same,” Ritesh Agarwal, Founder and Group CEO, said on the report.