Safety, Guest Experience and Asset Owner Community a priority going forward
As the world’s fastest growing and South Asia’s largest hotel chain, we will have a perfect place for you, no matter where you are, no matter what your budget is. The global accommodation market is worth $3.6 trillion yet remains highly fragmented and inaccessible to the general population at large. We are committed to removing this disconnect between demand and supply of quality living spaces that forces travelers and city-dwellers to compromise on location, quality, and price. At the same time, we will ensure that our service standards remain world class in the industry and help deliver the best occupancy results while introducing initiatives to strengthen the relationship with our asset owner community. We are not chasing short terms goals; we are on a mission.
Today, we are making a major commitment to one of our home markets—India—where OYO’s story started 5 years ago and are very excited to announce an investment of 1400 cr($200m) towards upgrading infrastructure and building technology. This investment will focus on technology, renovations and strengthening our market position in India and South Asia. We began by streamlining a fractured budget and mid-scale segment and made it accessible for everyone. In 2018, we added over 81 cities to our footprints and aim to expand our presence to 259+ cities, 8700+ buildings and 173,000+ rooms. Now, we want to expand the reach and improve accessibility and at the same time have multiple brands to cater to everyone’s accommodation needs or wishes. In the last 12 months, we have evolved into a company with 7 brands that offer quality living spaces to anyone, anywhere. With that in mind, we launched our mid-market brand Collection O hotels—a mid-scale business hotel catering for corporate travelers. We are the most preferred accommodation provider for thousands of corporates and with Collection O, we aim to grow further our corporate customer base.
We are staring at a social revolution of how a truly global brand out of India is not just reimagining hotels & reinventing living spaces but also creating entrepreneurs and supporting them through technology. This ‘innovating from India for the world’ approach helped us launch multiple industry-first tech solutions including the in-app SoS button—an app that activates on check-in and includes options to contact police and local 24×7 SRT (Safety Response Team). With global growth breaching 10 countries and the half a million rooms mark, we are on the path to pursue our goal of becoming the largest hotel chain in the world by 2023. Together we are working towards a future where anyone can get their preferred accommodation anywhere at the push of a button.