OYO clocks 4.3x year-on-year growth globally

Chennai: OYO Hotels and Homes, leading chain of leased and franchised hotels and spaces has announced that as of December 2018, its has seen a 4.3x year-on-year growth globally.

The firm has also seen global stayed room nights increase by 5.7 per cent, a release stated.

Globally, with 458K rooms as at December 2018, with realised value run-rate of $1.8B, OYO is all set to be the world’s largest hotel chain, the release said.

Partnering with OYO significantly improves the quality of standalone hotels and the occupancy from 25 per cent to 65 per cent on an average, thereby increasing yield on underutilized assets for asset owners, the hotel chain claims.

Globally, OYO is now present in more than 500 cities across eight countries, hosting guests in over 13,000 franchised and leased hotels and over 6,000 homes.

NT Bureau