OYO Sets Foot in Mexico as Part of Expansion Plans in Latin AmericaBusiness News

September 06, 2019 11:04
OYO Sets Foot in Mexico as Part of Expansion Plans in Latin America

(Image source from: Nikkei Asian Review)

India-based hospitality firm OYO in its bid to expand its list of international destinations has now set its foot in Mexico. The move came as a part of its plan to ramp up operations in Latin America, according to a report by PTI.

“Mexico, being an emerging tourist destination, is surely on the cards. However, we can’t confirm this at the moment,” Abhinav Sinha, Global Chief Operating Officer, OYO Hotels and Homes, said in a statement.

OYO has began its operations in Mexico with over ten hotels to acquire a strong foothold in the Latin American markets.

Currently, OYO is operating in 80 countries, including the United States, United Kingdom, Europe, India, Malaysia, Middle East, Indonesia, Philippines, and Japan.

Recently, the hospitality firm expanded its market in the United States partnering with hospitality investment and management company Highgate. Besides, the company also signed a deal to acquire Hooters Casino in the United States, which will now be renamed as OYO Hotel & Casino in Las Vegas.

To boost its vacation rentals business across the world, OYO Hotels and Homes also acquired Denmark-based data science company Danamica. OYO had also acquired vacation rental company Leisure Group which is based in Amsterdam and also it acquired a China-based mid-tier hotel chain called Qianyu Islands.  

Founded in 2013 by Haryana-based entrepreneur, OYO is now one of the biggest hotel chain that has more than 23,000 hotels and 125,000 vacation homes in over 800 cities. OYO is also one of the unicorn firms of India.

By Sowmya Sangam

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business  India  mexico  oyo