The Indian hospitality group continues to lose keys around the world, recording a 12.10% year-on-year decline. Although OYO still holds its 10th place in the ranking, this dynamic could ultimately push it out of the top 10 in favour of fast-growing groups.
Evolution of the hotel supply: -12.10%
Number of hotels in 2023: 16,128
Number of rooms in 2023: 379,151
OYO continues to record a loss of growth with a decline in its global hotel supply of around -12.10% (MKG estimate for the hotel operator base only, excluding Oyo vacation homes), i.e. 52,187 fewer keys than in 2022. While in 2020 the Indian group was in second place, it does not seem to be able to recover following the health crisis that has had a major impact on its business.
Although the group's presence has decreased significantly in Latin America, the Middle East and Spain and it has ceased all activity in Germany, these are not the main reasons for its decline. In fact, its global portfolio is mainly affected by the decline in its supply in China (-65%). And the severe health restrictions still in place throughout 2022 in Asia have not helped it to recover.
However, OYO is regaining some momentum in Europe, notably through the acquisition of Direct Booker, which allows it to increase its presence in the region while strengthening its weight in the full-service holiday home market. This was followed a few months later by the acquisition of Bornholmske Feriehuse, a holiday home management company based in the Nordic countries. Finally, the group says it has added 40 hotels to its UK portfolio during 2022, now operating over 150 hotels in the UK.
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