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As India-based OYO becomes the most recent debutant in the hospitality eco-system of UAE, founder and CEO Ritesh Agarwal looks forward to leveraging opportunities and set the firm on a path of aggressive expansion.
Operations have been launched with over 1.1K rooms in Dubai, Fujairah and Sharjahan, starting at a rate of 150 dirhams ($40.8), signifying the commencement of Oyo’s fifth overseas market foray after China and Malaysia.
This development comes at a time when UAE is preparing to host over 25 million visitors at the World Expo 2020. Oyo strategizes on partnering in this vision, by creating opportunities for local players and expanding
their presence at the same time.
As it is known to the world, the company has a demonstrated experience in being the forefront of budget and mid-segment hotels in the market.
Similarly, it plans to utilize the same functional competency with a technological-edge and be a benefactor of lucrative infrastructure to independent hotel owners, thus ensuring quality living experiences at affordable pricing for their customers.
According to a May 2018 KPMG report, Dubai had recorded 15.8 Mn tourists in 2017 which is projected to grow to 20 Mn in 2020.
The company has set a target to expand their footprint to 150 Hotels in all of the seven Emirates within the next two years and create over 4000 direct and indirect jobs in the UAE by the end of 2019.
Backed by leading investors such as the SoftBank Group, Greenoak Capital and Sequoia India Group, Oyo aspires to become the most trusted solution to hassle-free accommodations for travelers from GCC countries, India and other International tourists in the United Arab Emirates.