OYO Hotels, South Asia’s largest network of hotels, has announced plans to invest £40m in hotel operations in the UK by 2020.
The group will launch hotels in 10 cities across the UK, including London, Manchester, Birmingham and Edinburgh, over the next 18 months, and marks the group’s first expansion outside of Asia following rapid growth in India, China, Malaysia, and Nepal.
Founded by in 2003 by 24-year-old Indian entrepreneur Ritesh Agarwal, OYO Hotels plans to introduce its “low-cost, user-friendly, quality living experiences” through over 300 hotels and over 5,000 rooms by 2020.
Agarwal said: “OYO Hotels has been the forefront of the small and budget hotels revolution in India, China, Malaysia and Nepal. The UK is one of the world’s most visited countries, and so we are thrilled to now be able to offer OYO’s affordable, hassle-free and quality living experiences to guests across the UK.
“Our countries have strong ties and we are pleased to be partnering with UK hoteliers to help them generate increased, sustainable incomes while bringing great living spaces, jobs and tourism to the British economy.”
Jeremy Sanders, head of OYO Hotels UK, added: “I am very excited to be leading OYO’s expansion into the UK, one of the most dynamic hospitality markets in the world. We want to become the trusted partner of independent hotels across the UK.
“As we’ve experienced in Asia, we are confident that our bespoke technology and operational expertise brings real value to hotel owners and customers alike. There is so much potential here – I and the team cannot wait to get started.”