Ritesh Agarwal, CEO, OYO
Ritesh Agarwal-led OYO Hotels & Homes has increased its presence in the UK to over 100 hotels across 25 major cities and towns, including London, Manchester, Edinburgh, Glasgow, Blackpool and Torquay.
According to the company, its UK business, which is less than a year-old, has tripled its portfolio in the past three months. “The diverse range of hotels in the current portfolio, which have an average of 25 rooms, are already benefiting from higher occupancy rates, increased customer satisfaction and year-on-year room revenue uplift. One London hotel has seen its customer review scores increase by 23 per cent on Booking.com since becoming an OYO hotel in February,” the company said. Since its launch in the UK in October 2018, with a commitment to invest GBP 40 million in the region, OYO has built a team of over 275 experts across business development, operations, transformation, marketing and other functions.
OYO’s UK team is led by Jeremy Sanders, entrepreneur and co-founder of the restaurant chain, Coco di Mama. Sanders has overseen the opening of seven offices in the strategic hubs of London, Edinburgh, Glasgow, Manchester, Birmingham, Bristol and Portsmouth. “Our rapid growth shows there’s a real appetite from hotel owners and customers alike for good quality, affordable hotels with a local touch and we look forward to adding value to more independent hotel owners as we continue to invest and expand into new areas,” Jeremy Sanders, head of OYO UK, said.
With the summer holidays in full swing, we are now delighted to have a portfolio of 100 diverse hotels in some of the best city centre, seaside and rural locations across the country.
OYO Hotels & Homes has expanded its presence to nearly 23,000 OYO-branded hotels representing one million plus rooms across 800 cities. It has signed over $2 billion primary and secondary management investment round, headed by Agarwal, with support from institutional banks and financial partners.
UK was OYO's first destination outside of Asia and in June 2019, the company announced its entry into the USA, with 50 hotels across 10 states. The company claims to have created over 300,000 direct and indirect job opportunities across India, China, the US, the UK and beyond. The recent acquisition of @Leisure has further helped the company strengthen its footprint in Europe.