India’s Oyo Hotels invests $300 million for US expansion plans
The group plans to expand to cities like New York, Los Angeles and San Francisco
Soft-bank backed Oyo Hotels & Homes has announced plans to invest $300 million to further its expansion in the United States of America, the hospitality group announced.
Currently, the group has properties across US in Dallas, Houston, Augusta, Atlanta and Miami, and plans to expand to cities like New York, Los Angeles and San Francisco.
Speaking about their expansion plans, Abhinav Sinha, COO, OYO Hotels & Homes, Global said: “We, at OYO, are thrilled to see our business grow in the U.S., our newest home market. We are in the largest country in the world when it comes to the hospitality industry and there is a definite need here for chic and comfortable hospitality experiences at prices never thought of before.”
Oyo Hotels is backed by some of the world’s leading investors, including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital, and Hero Enterprise.