OYO Hotels & Homes, the world’s fastest growing hotel business, has arrived in Wales after entering into partnerships with two independent hotels in the country. With OYO Whitehouse Hotel in Llandudno and OYO Pier Hotel in Rhyl already on board, OYO is now looking for further investment opportunities in Wales in the coming weeks. The company, which works with small and midsize independent hotels to improve their performance and enhance the customer experience is now looking to engage with further independent hotel owners as it continues to seek investment opportunities in Wales and more widely across the UK.
Jeremy Sanders, Head of OYO UK said:
“We’re excited to have arrived in Wales just ahead of Wales Tourism Week, a time when the country’s tourism industry and the value it adds to the Welsh economy will be celebrated. Wales is becoming an increasingly popular staycation destination for British holidaymakers, and with its beautiful natural attractions and city break offerings, it’s easy to see why people are visiting the country.
“We see a huge opportunity here. We look forward to partnering with more independent hoteliers in Wales, and in turn, helping them capitalise on their potential so they, and the communities they operate in, thrive.”
Through its proprietary technology, revenue management capabilities and operational expertise, OYO works with independent hotel owners to improve their financial returns while ensuring guests have a great experience during each and every stay. Its team of hospitality experts also works with owners to transform the property itself, often co-investing to improve infrastructure, standards and the look and feel of the hotel. OYO’s flexibility means that it can work with all types of hotel – business, leisure, 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.
Since being founded in India in 2013 by 25-year-old entrepreneur Ritesh Agarwal, OYO has become the world’s fastest growing hotel chain and the sixth largest hotel group in the world, with a network of over 18,000 franchised and leased hotels across 500 cities and 10 countries, including India, China and Japan. The company launched in the UK – its first market outside of Asia – in October 2018, and now has 50 hotels representing over 1,000 rooms across UK cities, towns and coastal resorts. The business, which is backed by investors including Softbank, Airbnb, Sequoia and Lightspeed, plans to invest £40 million in the UK in 2019.