Indian group has partnered 30 local hotels since expanding to UK last October
OYO Hotels expands number of London properties by a third
The world’s sixth largest hotel chain OYO Hotels and Homes expanded the number of London locations by over a third in the past month.
The fast-growing Indian hotel group has partnered with 30 local hotels since expanding to the UK last October.
The chain opened the first four London properties in Pimlico, Paddington and Illford in 2018. In the past month, OYO expanded to Kings Cross, Camden, Bayswater, Wembley, Stratford and Southall locations.
The company said it continues to look for investment opportunities in London and around the UK and set a goal to reach 1,000 rooms in London by July.
OYO hotels in London average 24 rooms and have seen a room revenue uplift of 15% across its properties in April 2019.
Jeremy Sanders, head of OYO Hotels & Homes UK, said: “London has become an increasingly challenging market for local independent hotel owners who often struggle to compete with big branded players.
“OYO’s operational expertise, leading technology and transformational capabilities help independent hotel owners grow their businesses and give their guests a great experience. The 15% room revenue uplift we’ve delivered in London is proof of the value that OYO can add and we are excited to continue bringing such benefits to even more independent hoteliers in London and beyond,” added Sanders.
OYO was founded in India in 2013 by 25-year-old entrepreneur Ritesh Agarwal and has become the fastest growing hotel chain in the world.
The company works with independent hotel owners to improve their financial return, a team of hospitality experts works to transform the property, often co-investing to improve infrastructure, standards and the look and feel of the hotel.
The UK OYO launch was the company’s first market outside of Asia. The business, which is backed by investors including Softbank, Airbnb, Sequoia and Lightspeed, plans to invest £40 million in the UK in 2019.