Expanding its presence in the South-East Asian hospitality market, Oyo has announced the launch of its hotel chain in Indonesia. With a string of over 30 full-inventory – franchised and operated – exclusive hotels and over 1000 rooms in three cities in Indonesia – Jakarta, Surabaya, and Palembang, Oyo Hotels is ready to offer the benefits of its unique hospitality experience to asset owners, property investors and travelers to Indonesia.
The company plans to invest $100 million into Indonesia and will look to launch in over 35 cities by 2019. Commenting on the developments, Ritesh Agarwal, Founder and CEO, OYO, said, ‘’We’ve been at the forefront of the small and budget hotels revolution in India, China, Malaysia and Nepal, and have recently forayed into the UK and the UAE… We intend to invest over $100 million in this high growth market and plan to expand to the top 35 cities in Indonesia, including Yogyakarta, Bandung, Bali, over the next 15 months.”
Rishabh Gupta, Country Head, OYO Hotels, Indonesia, said, “Indonesia is an attractive market with sizeable internet and mobile presence, which complements our approach. We’ve received an overwhelming response to OYO Hotels offerings in the country since our soft launch and look forward to hosting more guests in the coming years.”
Ibu Lidya, Asset Owner, OYO Sarkawi Residence, Indonesia, said, – “ I manachised my asset with OYO Hotels four months back when I was struggling with 28% occupancy. OYO Hotels renovated my property beautifully, and now we are at 92% occupancy, regularly. The General Manager appointed by OYO has been a great support, and we are considering buying a new asset for OYO Hotels.”
