SoftBank-backed Oyo on March 12 claimed it is going to make an investment $200 million (Rs 1,400 crore) in India and Nepal markets within the next 10 month, shortly after closing $1 billion fund raise.
“The money will go in Capex, technology, and leadership,” Aditya Ghosh, CEO India and South Asia of Oyo stated in a connection with reporters.
Oyo has become available across 259 cities with 8,700 buildings and 173,000 rooms in India.
Oyo desires to additional expand their presence across India even while focusing on aggressive capacity building.
The organization also declared the extra of Collection O hotels to its existing portfolio of the budget- to mid-segment hotel chain brands.
The company states to be obtaining over 93% of their sales are from repeat or word-of-mouth potential customers.
Oyo final enhanced $100 million from China’s Didi Chuxing in January which competed their $1 billion fund raise which was announced this past year.
The company presently targets to concentrate on making an investment and franchise building to take full advantage of the worldwide $3.6 trillion accommodation market.
Around the the world, Oyo has become contained in 10 countries and over 500 cities.
“With a powerful balance sheet, now we are able to visit much more places than ever, bring in new categories, invest in our assets, even while maintaining our top-quality standards , without increasing an extra capital ,” stated Ritesh Agarwal , Founder and Group CEO .