OYO is making its way into Vietnam with more than 90 franchised hotels spread across six cities. The leading chain of budget homes and hotels is also investing more than $50 Mn in the country and creating 1,500 direct and indirect jobs.
Currently, OYO is operating in six cities which include: Hanoi, Ho Chi Minh, Da Nang, Phu Quoc, Vang Tau and Nha Trang. By 2020, OYO plans to expand to 10 cities in Vietnam along with 20,000 rooms. The larger plan is to create more than 300,000 employment opportunities in South Asia.
The key to OYO’s business expansion lies in capitalizing on various real estate options. Diversifying their offerings not only into regular hotels and homes but also coworking spaces, long-term accommodations, student-living options, etc.
Last October, OYO launched its presence in Southeast Asia by entering Indonesia. At present, there are about 20,000 rooms in 720 hotels across 80 cities in Indonesia with more than 900 employees. Within Indonesia, the company plans to expand to more than 100 cities by the end of the year with a commitment of $100 Mn to OYO Indonesia.
In India alone, OYO has created about 100,000 direct and indirect job opportunities, according to a statement released earlier this year.