The OYO group has experienced a sharp decline in its hotel stock, this decrease amounts to -54.3% whereas in 2019 the group had doubled its stock. Thus, OYO loses 7 places in this year's world ranking.
Park's evolution : -54,3%
Hotels' number : 20 591
Rooms' number 2021 : 549 000
The Indian group dropped 7 places in the Top 10, with a negative growth score: -54.3% or 651,000 keys (MKG estimate based on actual Q3 2020 vs. 12/31/2019) less compared to 2020. OYO was in fact in second place in 2020, after entering the Top 10 in 2018. By 2019, OYO had more than doubled and thus lost a big chunk of that progress in 2021 when it had surpassed 1 million rooms worldwide. The group has been facing tensions with its owners, particularly in China, which helps understanding such losses to some extent.
During 2020, OYO Vacation Home (which has Belvilla, DanCenter, Danland,...) completed the acquisition of TUI's vacation rental business that was announced earlier that year. The acquisition not only adds 17,000 vacation rentals to the brand's portfolio of more than 140,000 accommodations, but also strengthens the group's strategic positioning in Europe, with a presence in France, Germany and Italy in particular.
The Indian group has also established a presence in the United Kingdom, converting former office space into a hotel in partnership with Red Lions Estate.
Already signed up? Already signed up? Already signed up? Already registered? Login here!