'No plans of entering any other Middle East country right now', says Oyo’s COO
The hospitality group’s COO talks about Oyo's expansion plans, why the oversupply in hotels is "exciting" and how they're not here to disrupt the market
Oyo Hotels & Home has set a target of reaching 12,000 rooms by 2020 in the UAE market, but Abhinav Sinha, Oyo’s COO, says that they won’t be focussing on any other country in the Middle East for now.
Talking exclusively to Hotelier Middle East, Sinha said, “In the Middle East we are focussed on UAE and Saudi, we have no plans of going to any other country. We may enter Bahrain, in a very small market and then maybe Oman. But we don’t have anything concrete on that end right now.”
Oversupply is “exciting”
Oyo has been fast making strides in UAE and Saudi Arabia, two markets that have been struggling with an oversupply in hotels and hotel rooms However, that doesn’t phase Sinha.
In fact he believes that there’s a silver lining in the oversupply situation. He said, “We are excited about having extra supply. Because this gives us a chance to use our technology and then turn things around. This also means getting better products out for consumers.”
He explains, “We don’t build or own assets, we only lease or franchise. So as long as we are using the right data to make the right decisions we should be fine.”
‘Not here to disrupt the market’
A few months ago, Oyo was in the news when several mid-market level hotels made noise about how the company was running them out of business by offering low prices. But Sinha maintains that they are not here to cause ruffle any feathers. “We are not here to disrupt the market. I don’t see any issue with four or five star hotels in India. In fact I believe that they have had awesome business in the last three years. So I disagree that there has been any concern in the market at all.”