2019 promises to be as packed with news for Oyo as it was last year. The ambition to become the world's leading hotel chain is driving the group to accelerate its development. "Our goal is to change the way people stay away from home". A catchphrase that clearly shows Oyo's ambitions. Excessive, you might say? Nothing could be less certain...
After launching franchise operations to conquer the UK market
After clearly demonstrating its ambition to become a global leader in the hotel market in terms of number of rooms
After announcing an investment of 800 million euros in its domestic markets of India and China
Oyo accelerates on two fronts:
It bought the Chinese brand Islands Hotels, created in July 2017, that had developed an offer similar to its own and was present in 10 Chinese cities with tens of thousands of rooms. This supply is totally complementary to Oyo's in India resulting even better geographic coverage in Asia. Oyo indicates that the two entities will continue to be operated separately, which is a good way to maximise penetration in these markets with their high entry barriers.
Second news item of this beginning of April: a partnership with Airbnb which has invested an undisclosed sum in the young and promising Indian. The American giant thereby plans to acquire the opportunity to reach an even larger target by offering another nursery of accommodations that is not in individuals' homes. Airbnb now works with boutique hotels and has invested in Hotel Tonight, thereby reinforcing its entry range with Oyo products.
Oyo has based its development on the partnership model, offering Indian and then Chinese hoteliers the opportunity to improve their offer and develop their revenues. Technical assistance to update the supply, communications support through the mobile application, an PMS to manage turnover, prices, and F&B operations, front desk, purchasing and restocking - these are the Oyo's secrets for winning over hoteliers. It is this opportunistic state of mind that has helped it succeed until now as it joins the top 10 in the global ranking of hotel groups with close to 460,000 rooms on January 1, 2019 versus close to 53,000 on January 1, 2018, that Oyo weaves its international web. This growth is enough to make other global leaders pale in comparison.
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