Oyo looking at Indonesia, UK and Europe markets: Report
The company recently announced its entry into the Chinese market
June 29, 2018 / 11:57 AM IST
OYO Rooms (Representative Image)
Gurugram-based Oyo Rooms is looking at setting up business operations in Indonesia, United Kingdom and a few other European countries, according to a Mint report.
The hospitality firm last week announced its entry into 26 Chinese cities, its third overseas market after Malaysia and Nepal.
"Our primary focus is to strengthen our foothold further in India. We are happy to state that we have reached 100,000 keys and are confident to reach 180,000 keys by this year. In an endeavour to deepen our network and commitment as south Asia's largest hotel chain, we have expanded into Malaysia, Nepal and China, where we have over 5,500 assets partners," a spokesperson for the company told Mint.
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Moneycontrol could not independently verify the news.
SoftBank-backed Oyo Rooms is run by Oravel Stays Pvt. Ltd. Oyo Rooms received USD 250 million in the last round of funding from SoftBank.
The company is in talks for a fresh round of funding to raise USD 500-800 million, Mint reported in March.
Oyo Rooms, established in 2013, now has 100,000 rooms. It competes with Fabhotels and Treebo.