Visakhapatnam

OYO plans to invest ₹100 crore to expand business in city

more-in

‘Aim is to create jobs for 5,500 hospitality professionals in a year’

The OYO Hotels & Homes, a chain of leased and franchised hotels, homes, managed living and workspaces, on Wednesday announced expansion of its operations in Visakhapatnam with an investment of ₹100 crore.

Launching its services in the city in November 2016, the OYO has expanded its footprint to 1,950 rooms in 100 hotels here. At present, it is managing 6,300 rooms in 289 hotels across the State. The company has invested heavily in capital expenditure (Capex) segment, creating employment opportunities for 3,000 people in Andhra Pradesh.

“We are aiming at creating direct and indirect employment for more than 5,500 hospitality professionals in the State in the next one year. In doing so, the OYO will tap the tourism potential of not just Visakhapatnam, but A.P. as well. We are planning to invest ₹100 crore in Capex, infrastructure and talent segments in Visakhapatnam,” a release quoted OYO Hotels & Homes CEO (India and South Asia) Aditya Ghosh as saying.

Business goal

The OYO has been working closely with small and independent hotel owners and utilising its expertise in standardising amenities and guest experiences.

“The company is planning to have at least 10 OYO townhouses in the city by the year-end. Currently, 100 hotel-owners-strong in Visakhapatnam, OYO is working to help them realise business goals and increase occupancy and yield,” Mr. Ghosh said.

He further said that the company had been making quality hotels available to customers at the right price point. “Being the largest city and the biggest economic hub of the State, Visakhapatnam is a key market for us. We will continue to invest in expanding our footprints,” he added.

Why you should pay for quality journalism - Click to know more

Related Topics Visakhapatnam
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jan 23, 2020 10:06:36 PM | https://www.thehindu.com/news/cities/Visakhapatnam/oyo-plans-to-invest-100-crore-to-expand-business-in-city/article29096559.ece

Next Story