OYO to focus on 5 core markets amid COVID crisis, says group CEO

Hospitality firm OYO Hotels and Homes plans to focus on its five core markets — India, Southeast Asia, Northern Europe, China and the US — and not expand to new markets in the aftermath of the COVID-19 pandemic, a top company official said.

The company, which saw its gross margins fall sharply after the outbreak of COVID-19, said its gross margins are now back to 85 per cent of the pre-pandemic levels.

“Crisis brings clarity. For us, the clarity that this (COVID-19 pandemic) has brought is that we have clear visibility..we operate in around 80 countries..our core three regions where we are market leaders or market leading in are India, Southeast Asia and Northern Europe and two markets where we are becoming clear challengers are China and the US. These are the five focussed markets we are going after.