NEW DELHI: Homegrown hospitality firm OYO on Wednesday said it has become the second largest hotel group in China.
According to OYO, it has expanded its presence to 320 Chinese cities in a short span of 1.5 years, with nearly 10,000 OYO-branded hotels and 450,000 rooms, surpassing the scale of traditional and established hotel chain brands such as Home Inn, Hanting and others in that country.
According to Sam Shih, COO, OYO China, OYO Jiudian (Hotels) operates like a Chinese company and delivers better living for middle-income people across the country.
“We have ensured that for the first time, you can get a great living space in less than RMB 150 ($22) as well. Every day, over 2,00,000 heads are on OYO Jiudian pillows due to the great experience at low cost,” Shih said. He added that OYO has incredible opportunity ahead of them. At present, OYO is present in less than 2 per cent of the country’s accommodation market, whose total size is 35 million rooms.
The hotel chain claimed that asset owners who have joined the OYO for three months or more have on an average seen 2X increase in occupancy, and 97 per cent of franchisee partners have come back and renewed their contracts.
“To ensure asset owners have improved visibility on potential customers from around the world, OYO Hotels is also exploring ways to collaborate with online travel agents such as Fliggy, Ctrip and others, along with other consumer traffic-building platforms,” the company said.