India's Oyo Hotels eyes Saudi expansion, says CEO

Oyo CEO Ritesh Agarwal said that the firm believes it will hit its goal of creating 5,000 jobs for Saudis

Image used for illustrative purpose
Image used for illustrative purpose

India’s Oyo Hotels & Homes hopes to expand its offerings in Saudi Arabia and will likely meet its target of creating 5,000 jobs for Saudis earlier than anticipated, according to CEO Ritesh Agarwal.

In February 2019, the kingdom’s Public Investment Fund (PIF) and Oyo signed a memorandum of understanding (MoU) in which they agreed to explore co-investment opportunities, create new jobs and develop "new sectors".

“We look at Saudi as a very strategic growth market,” Agarwal said in an exclusive interview with sister title Arabian Business.

Did you like this story?
Click here for more

“The partnership is very special for us and we want to continue to go deeper.”

Agarwal said Oyo currently manages more than 80 buildings and properties in over 10 Saudi cities, including Riyadh, Jeddah, Dammam, Taif and Abha.

“We’re in markets where having a great quality experience at the right price point really matters,” he added.

Additionally, Agarwal said that Oyo has “already created a significant amount of jobs for locals”.

“We have promised to create over 5,000 Saudi jobs by the end of next year,” he said.

“We feel that we’ll exceed that by the second quarter.”

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular



Human Capital Report 2017

Human Capital Report 2017

The second annual Hotelier Middle East Human Capital Report is designed to explore the issues, challenges and opportunities facing hospitality professionals responsible for the hotel industry’s most important asset – its people. The report combines the results of Hotelier Middle East's HR Leaders Survey with exclusive interviews with the region's senior human resources directors.

Hotelier Middle East Housekeeping Report 2016

Hotelier Middle East Housekeeping Report 2016

The Hotelier Middle East Housekeeping Report 2016 provides essential business insight into this critical hotel function, revealing a gradual move towards the use of automated management and a commitment to sustainability, concerns over recruitment, retention and staff outsourcing, and the potential to deliver much more, if only the industry's "image problem" can be reversed.

From the edition

From the magazine