Oyo Hotels and Homes signs off 2018 with 458,000 rooms
The operator has also seen global stayed room nights increase to 75 million in 2018 from 13 million in 2017
Oyo Hotels and Homes has increased its portfolio to 458,000 rooms in 2018, claiming to have added more to its portfolio than the world's top three hotel chains.
The operator, which has set its sights on becoming the world's largest hotel chain, has also seen global stayed room nights (annualised based on December run-rate) increase from six million in December 2016 to 13 million in December 2017 to 75 million (99 million based on December 2018 peak) in December 2018.
Oyo currently manages 12,500 rooms across Dubai, Sharjah, Ras Al Khaimah and Fujairah. The company has welcomed more than 120,000 guests from 80 countries across 14 properties and 20 homes in the UAE, since its launch in April 2018. Oyo has also recently established its footprint in Saudi Arabia.
"We have had a great 2018 across all the markets that we operate in. Globally we have reached close to half a million fully controlled leased and franchised rooms with a realized value run rate of $1.8 billion as at December 2018 representing a 4.3 times year-on-year growth. Oyo continues to invest in technology and to build long term capabilities while getting on-board, the top talent in the country,” said Oyo Hotels & Homes chief financial officer Abhishek Gupta.
Gupta added: "However, we still believe that this is just the beginning and there's a long way ahead of us. We will continue to maintain this momentum while redefining hospitality experience for people around the world. We aspire to be the largest hotel chain. The market is undoubtedly large and deep with continuing, significant gaps in demand and supply growth. We will continue to create more value for our asset owners."
Globally, Oyo Hotels & Homes is now present in 500+ cities across 10 countries - India, China, Malaysia, Nepal, UK, UAE, Indonesia, Philippines, Saudi Arabia and Japan, hosting guests in more than 13,000 franchised and leased hotels, and more than 6,000 homes.