India's Oyo to debut in Saudi Arabia
The Indian hospitality start-up to tap into the country’s religious tourism sector
Hotelier’s sister publication Arabian Business has reported that Oyo, the unicorn Indian hospitality start-up, is set to enter Saudi Arabia, as part of its ambitious expansion plans in the GCC.
Arabian Business has reported that in an exclusive interview Manu Midha, regional head, Middle East, Oyo Hotels & Homes, had said that besides its traditional offering such as hotel rooms, homestays and townhouses, Oyo plans to launch a new category in Saudi Arabia to tap the large inflow of religious tourists into the country.
Oyo Hotels & Home has also set a target of reaching 12,000 rooms by 2020 in the Middle East market, almost a 10-fold jump from its current level of 1300 rooms on its platform in the UAE market, Arabian Business added.
Hotelier reported in October of last year that Oyo Hotels is planning to penetrate the UAE market, starting with the launch of its operations in Dubai, Sharjah and Fujairah. It also reported in September 2018 that the South Asian hospitality company had raised AED3.68 billion (US$1 billion) funding through SoftBank Investment Advisers.
According to Arabian Business, Midha was reported as saying that Oyo is now eyeing the Oman and Bahrain markets in the, GCC and Egypt and neighbouring countries in the wider MENA region.