NEW DELHI: Homegrown hospitality chain OYO Hotels and Homes on Tuesday announced its entry in the fast-growing co-working space by introducing a new business vertical, OYO Workspaces, which would have three brands under its wings — the recently acquired Innov8, Workflo and Powerstation.
The three brands currently operate across 10 cities in India with over 20 centres and have the capacity to serve around 15,000 people. Rohit Kapoor, chief executive officer, New Real Estate Businesses, said that the Softbank-backed firm plans to have 50 OYO Workspaces centres by the end of the year and aims to make it the largest co-working business in Asia by the end of next year.
OYO confirmed that it has acquired Innov8, a co-working start-up with over 200 employees and 16 operational centres. The four-year-old start-up was said to be acquired for $30 million.