Continuing its expansion into the Southeast Asian markets, OYO Hotels and Homes has launched operations in Vietnam.
Starting with over 90 franchised hotels, spread across 6 cities, including Hanoi, Ho Chi Minh, Da Nang, Phu Quoc, Vang Tau and Nha Trang, OYO Hotels plans to expand its footprint to 10 cities in Vietnam by 2020-end. The hospitality chain has also committed an investment of over $50 million over the next few years in the country.
OYO Hotels aims to generate over 1,500 direct and indirect jobs in Vietnam.
Additionally it also announced that it has expanded to 1,082 hotels in Indonesia with 720 hotels being fully operational and more than 300 upcoming. The company claims to have created over 10,000 direct and indirect economic opportunities in the process.
"Vietnam is an important market for us in South East Asia. Our priority here is to ensure that we bring OYO Hotelsâ€™ top-notch service to the country, with the goal to become Vietnamâ€™s most loved hotel chain. We aim to grow to 10 cities and 20,000 rooms by 2020-end while becoming a household name for both local and international travellers in Vietnam. Our growth in the country will be fueled by strong local leadership and a team of hundreds of young hospitality enthusiasts," Dushyant Dwibedy, Country Head - OYO Vietnam, said in a statement.
Philippines and Malaysia also reported continuing growth in assets under management with 8,000 and 1,300 exclusive rooms, respectively, the company said in a statement.
Earlier this year, OYO Hotels and Homes had announced an investment of RS 1400 crore for its India and South Asia business. In India, it currently has over 9,000 hotels with over 1,76,000 rooms across 260+ cities.