Humbled to announce that we are – as of June 2019 – the world’s third largest hotel chain by room count, having surpassed several traditional and well-established hospitality brands. Starting with just 1 hotel in 2013 in Gurgaon, today, we are in more than 800 cities, with more than 23,000 hotels, 850,000 rooms, and 46,000 vacation homes, worldwide. Our fast-paced growth is not only backed by a strong balance sheet of about $1.5 billion but also driven by robust growth in our key markets. In China, we are now the largest single hotel brand with a presence in 337 cities and a room inventory of over 500,000 rooms across 10,000 hotels. We have seen a similar fast-paced growth in other regions in Asia as well. In Indonesia, we are present in 80 cities with 720 hotels and a room count of over 20,000. In the UK, we expanded our presence to 25 destinations with more than 85 hotels, and more recently the U.S., with a presence in 40 cities and over 68 hotels. We will invest a significant part of our funds in the business to focus on strengthening and deepening our presence in our home markets while maintaining our growth momentum across the globe, all with the goal of delivering high-quality experiences. We have generated over 300,000 direct and indirect job opportunities across India, China, U.S., and the UK to boost and support the economic trajectories of these countries. That is the measure of our success. Our recent acquisition of @Leisure Group has further helped us to strengthen our leadership in the vacation home segment in Europe.
In China, we have expanded our roots deep in lower-tier cities to offer branded living experiences for customers pursuing personalization and quality, while at the same time driving consumption and upgraded tourism related accommodations. We remain committed to diverting 40% of the funds towards China, of which $100 million will be towards customer experience, quality, and system improvements, and the balance to fuel further growth, talent development, competency building, and infrastructure development in the country.
Our objective is to help our real estate partners to achieve high occupancies and, therefore, higher yields. We empower them with our successful combination of design, hospitality, and technological expertise, financial acumen and operational capabilities, access to easy financing opportunities, the transformation of their hotels. Through this, we are able to offer good quality customer service in every OYO building.
Starting with the belief that everyone deserves a better life and a beautifully designed, chic, and comfortable living space, we are committed to change the way people live. We have been successful in doing that by upgrading unbranded hotels into great quality living spaces and offering them at affordable prices in the best locations around the world.
The company is led by a robust, resilient and diversified group of seasoned leaders who have joined our mission in the last 12 months, including Aditya Ghosh, CEO – India & South Asia, Rohit Kapoor, CEO- New Real Estate Businesses, Sam Shih, COO – OYO China, Marcus Higgins, Head of Expansion – OYO U.S.A., Jeremy Sanders, Head – OYO U.K., Tadeus Ari Nugraha, Operations Head – Indonesia, Erica Perry Briody, VP – Talent Acquisition, OYO UK among others.
Known worldwide for our tech-driven full-scale led business model hospitality model, we have attracted some of the world’s leading investors, including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital, and Hero Enterprise.
Ritesh often says, “Today, we are a small percentage of the world’s accommodation market, and we have an incredible opportunity ahead of us.” It is still Day Zero for us and we are just getting started