OYO Hotels commits over US$50m with Vietnam expansion

OYO Hotels & Homes has ventured into six cities in Vietnam – Hanoi, Ho Chi Minh, Da Nang, Phu Quoc, Vang Tau and Nha Trang – with over 90 franchised hotels. It has also committed over US$50 million over the next few years in Vietnam with the mission of transforming the country’s hospitality landscape and creating quality affordable accommodations. OYO Hotels plans to expand its footprint to 10 cities in Vietnam by the end of 2020.As a part of its continued commitment to the country, OYO Hotels aims to generate over 1,500 direct and indirect jobs that will help support the economic trajectory of Vietnam. Country head – OYO Vietnam, Dushyant Dwideby, said Vietnam is an important market for the company in Southeast Asia and it offers an attractive market with sizeable internet and mobile presence, which complements our approach.“Our growth in the country will be fueled by strong local leadership and a team of hundreds of young hospitality enthusiasts. We’ve been responsible for enabling over 300,000 job opportunities in South Asia and look forward to creating 1,500 direct and indirect jobs in Vietnam by 2020,” he added.Meanwhile, OYO Hotels is also gunning for the top spot in Indonesia’s hotel industry, with 1,082 hotels under its network. Approximately 720 hotels are fully operational in Indonesia and more than 300 upcoming hotels that are under transformation, and a total of 19,750 rooms across 80 cities. According to the company, this marks a “phenomenal growth trajectory” or 20 times since its launched last October.OYO Hotels attributed the pace of growth to the active participation of hundreds of asset owners, its loyal consumers and over 900 employees across Indonesia. The company has also been able to create over 10,000 direct and indirect economic opportunities in the process. Recently, it named former head of international marketing for Traveloka Rotsen Quispe to the role of product marketing and growth vice president. In his new role, he will be building a local team to drive growth and marketing, and contribute to the company’s footprint in Indonesia.Rishabh Gupta, country head OYO Indonesia, said that OYO Hotels has been growing at a “staggering pace” in Indonesia and the company has committed over US$100 investment in the country.“As we move towards our next step of growth in Indonesia, we are committed to delivering the highest quality, standardised services to our customers at prices never thought of before, while creating value for our hotel owners and helping them develop and transform their business,” Gupta said.