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After China, Hotel Chain OYO Expands Operations To The UK | #VentureCanvas

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Bhumika Khatri | Inc42

After China, Hotel Chain OYO Expands Operations To The UK
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OYO founder Ritesh Agarwal, in his efforts towards taking the cab aggregator ‘glocal’, has taken another major step — after China, Malaysia, and Nepal, Agarwal has now expanded Ola’s presence to the United Kingdom.

In the next 15 – 18 months, OYO plans to offer over 5000 rooms. OYO has already started its operations in four properties in London that offer more than 80 rooms.

The UK business will be led by British entrepreneur Jeremy Sanders, who co-founded the British restaurant chain, Coco di Mama.

“I am very excited to be leading OYO’s expansion into the UK, one of the most dynamic hospitality markets in the world.  We want to become the trusted partner of independent hotels across the UK and, as we’ve experienced in Asia, we are confident that our bespoke technology and operational expertise brings real value to hotel owners and customers alike,” said Sanders.

With an entry in the UK market, OYO will offer guests the Townhouse experience and properties will be operated under models of manchise, lease with full – inventory control similar to other markets like India and China.

The company further plans to invest $46.71 Mn (INR 338 Cr) in the country and will look to launch in 10 cities over the next 18 months including Manchester, Birmingham, Glasgow, and Edinburgh in the United Kingdom by 2020.

“The UK has been the topmost international travel destination for several years and last year hosted over 19 Mn tourists from around the world. Driven by its booming domestic and international travel and budget hospitality needs, the UK presents a multi-billion dollar opportunity for OYO,’ said Agarwal.

Over the next year, the company aims to build out the team by hiring an additional 100 OYOpreneurs (employees empowered to function like entrepreneurs) across the country.

Here’s a quick update about OYO in India and abroad:

Recently, we have seen consumer internet players like OYO and Ola to aggressively mark their territories in nations abroad. Does that mean the Indian market has not been able to offer enough opportunities to the local companies? For long, the Indian market has been termed as price sensitive, leveraging on the freemium models the new age tech startups has to throw upon for gaining their consumer base.

However, with the rising status of an average Indian, lack of time and easy access to technology, the market is definitely going much wider in India for any of the consumer internet company. The entry into the international markets can be seen as an attempt to leverage their existing infrastructure by taking a first mover advantage, before anyone in that market, be it China, London or Newzealand. An attempt to finally come out of the shadow of being known for re-modeling Chinese or Silicon Valley business models in India!

The post After China, Hotel Chain OYO Expands Operations To The UK appeared first on Inc42 Media.

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Source: After China, Hotel Chain OYO Expands Operations To The UK

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