Indian unicorn OYO has conquered China and is now the country’s largest hotel chain
- The 6-year old hospitality unicorn has become China’s largest hotel chain.
- Earlier in June,
OYOhad also announced its expansion plan in the US.
- The company is on a steady growth phase to become the world’s largest hotel chain.
It has become the largest hospitality chain in China, within two years of its entry into the market.
The company is the process of investing $100 million out of the $600 million it had earlier committed to China. It is present in over 337 cities and has 500,000 rooms in the country.
OYO already hired 10,000 people and created for 200,000 jobs indirectly, in the market.
The six-year-old startup has much higher ambitions in sight – to become the world’s largest hotel chain, as conveyed by its CEO Aditya Ghosh earlier this year.
OYO has over 175,000 rooms in India. It is also adding 60,000 rooms every month, globally.
Earlier this month, OYO said that it will invest $300 million to expand its footprint in the United States – into cities like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US. It is currently present in cities like Dallas, Houston, Augusta, Atlanta and Miami.
In April 2019, it partnered with SoftBank Corp and SoftBank Vision fund for expansion in Japan. It also runs a housing rental service called OYO Life in the country.
OYO is making a march to the top US cities with $300 million and blessings from Softbank and Airbnb