SoftBank-backed OYO says it has become second largest hotel chain in China
05/23/2019|4:16:46 PM|DealStreetAsia

Indian hospitality company Oyo Hotels & Homes (OYO) on Wednesday announced that it has become the second-largest hotel group in China within 18 months of its foray into the country. 

The company has expanded its presence to nearly 10,000 OYO-branded hotels and 450,000 rooms across 320 cities in China. 

“With tier-II cities at its core, OYO extends deep into China’s tier-II to tier-VI cities,” the company said in a statement. 

Globally, OYO has a footprint in more than 800 cities across 24 countries, including Malaysia, Nepal, the UK, UAE, Indonesia, Saudi Arabia, the Philippines and more recently, Japan. It counts India and China as two of its biggest markets. 

Sam Shih, COO of OYO China, said, “OYO Jiudian (Hotels) operates like a Chinese company and delivers better living for middle-income people across the country. Every day, over 200,000 heads are on OYO Jiudian pillows in China due to the great experience at low cost.” 

“Today, we are less than 2% of the country’s accommodation market that stands at ~35 million rooms,” Shih said. 

OYO Hotels is also exploring ways to collaborate with online travel agents (OTAs) such as Fliggy, Ctrip and others, along with other consumer traffic-building platforms, the company said. As of now, OYO gets 25 per cent of bookings from OTAs in China. 

The company recently announced a strategic partnership with Alipay. The two companies aim to cooperate in areas such as membership, traffic exchange, scenario integration, finance services, smart payment, credit life, and hotel upgrades. 

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