Dubai – Mubasher: Oyo Hotels Group has announced plans to venture into the UAE.
The Indian hotel-booking start-up, founded in 2013, is set to open more than 10 hotels across the cities of Dubai, Sharjah, and Fujairah, it said in a statement.
Last month, Oyo raised around AED 3.68 billion ($1 billion) through its collaboration with Softbank Investment Advisers.
Oyo said it plans to add 12,000 rooms in 150 hotels across the UAE by 2020, adding that the number of hotel rooms in Dubai is expected to reach 132,000 by the end of 2019.
“Dubai alone will host over 20 million visitors and currently records approximately hotel keys per resident at 29.9 per 1,000 people, which is on the higher side when benchmarked against international hub cities, a clear indicator of the potential of this market,” said Ritesh Agarwal, Oyo founder and CEO.
He added that Oyo would introduce “quality living experiences at affordable prices” to Dubai visitors and will help local hotel owners make the best of available opportunities.
Oyo Hotels Group currently operates in more than six countries, including India, China, Malaysia, Nepal, the UK, and the UAE.
