OYO Hotels & Homes, the world’s third-largest hotel chain by room count*, today announces that it has increased its presence in the UK to over 100 hotels across 25 major cities and towns, including London, Manchester, Edinburgh, Glasgow, Blackpool and Torquay. The business, which entered into the UK less than a year ago, has more than tripled its UK portfolio in the last three months.
OYO helps small and midsized independent hotels improve their performance whilst also enhancing the customer experience. Through its proprietary technology, revenue management capabilities and operational expertise, OYO seeks to improve financial returns for hotel owners whilst ensuring guests have a great experience during each and every stay. It also invests with owners to transform the property itself, improving the infrastructure and the look and feel of the hotel.
OYO’s flexibility means that it can work with all types of hotel - business, tourist, metropolitan, rural, large or small - with the single aim of using its technology and hotel expertise to deliver value for hotel owners and customers alike. The diverse range of hotels in the current portfolio, which have an average of 25 rooms, are already benefiting from higher occupancy rates, increased customer satisfaction and year-on-year room revenue uplift. As examples, one London hotel has seen its customer review scores increase by 23% on Booking.com since becoming an OYO hotel in February; and one hotel in Edinburgh saw an occupancy uplift from 28% to 97% within its first six weeks with OYO, increasing its RevPAR by 300% over the same time period.
Since launching in the UK in October 2018 with a commitment to invest £40 million in the region, OYO has rapidly built a team of over 275 experts across business development, operations, transformation, marketing and other functions. OYO’s UK team is led by Jeremy Sanders, entrepreneur and co-founder of the restaurant chain, Coco di Mama. Jeremy has overseen the opening of seven offices in the strategic hubs of London, Edinburgh, Glasgow, Manchester, Birmingham, Bristol and Portsmouth.
Jeremy Sanders, Head of OYO UK, said: “With the summer holidays in full swing, we are delighted to now have a portfolio of 100 diverse hotels in some of the best city centre, seaside and rural locations across the country. Our rapid growth shows there’s a real appetite from hotel owners and customers alike for good quality, affordable hotels with a local touch - and we look forward to adding value to more independent hotel owners as we continue to invest and expand into new areas of the UK.
“Six months ago, OYO had a team of 25 and just five hotels in London. Today, we have a team of 275 dedicated OYOpreneurs. They are the people who are driving our success and helping independent hotels across the country to thrive.”
One hotel owner, who began working with OYO in April, commented: “When I took on my hotel, I didn’t realise how much work was involved in the day-to-day running, the housekeeping, serving breakfast, answering phone calls. Since joining OYO, things have become a lot calmer. The benefit of being with OYO now is that I no longer feel like a single man on my own running a small hotel. There’s always somebody I can call, be it something small or something big. I now feel like I’m part of the OYO family.”
Since being founded in India six years ago by 25-year-old entrepreneur Ritesh Agarwal, OYO Hotels & Homes has expanded its presence to nearly 23,000 OYO-branded hotels representing 850,000+ rooms across 800+ cities. OYO’s fast-paced growth is backed by a strong balance sheet, and fuelled by the company’s success in Asia and continued global expansion. OYO’s strong growth, improved margins and improvements in customer experience recently led to the signing of a $2 billion primary and secondary management investment round, spearheaded by Ritesh Agarwal, with support from institutional banks and financial partners**.
Robin Rossmann, Managing Director at hotel data benchmarking company, STR, said: “STR has tracked hotel supply for more than 30 years, and OYO’s growth in the UK has been noticeably rapid over the past year. The story is the same globally as the company’s pipeline projects a significant growth trajectory.”