OYO to invest Rs 1,400 cr in India and Nepal markets in 2019 to boost infra

Hospitality firm OYO will invest Rs 1,400 crore in India and Nepal markets in 2019 as part of efforts to increase infrastructure, strengthen technology and internal capability, it said Tuesday.

The company also announced the launch of a new brand, Collection O hotels, to its existing portfolio of the budget- to mid-segment hotel chain brands. “Rs 1,400 crore will go in capex, technology and leadership,” OYO India and South Asia CEO Aditya Ghosh told reporters here.

The idea is to further deepen and widen presence across India while focusing on aggressive capacity building to bring the choice of an OYO hotel to every corner of the country, he added.

The company is currently present in over 259 cities in India with over 8,700 buildings (hotels and homes) and more than 173,000 rooms.