After expanding its international presence to China and Japan, Oyo Rooms has announced that it has forayed in the United Arab Emirates (UAE). This development comes as a part of its expansion plans in the Middle East, making this the seventh overseas market for the company where it has expanded its operations.
The company has started operations with over 10 inventory franchised and operated hotels in Dubai, Sharjah, and Fujairah. It currently operates 1,200 rooms in the UAE and is aiming to have 12,000 keys added to its UAE portfolio by 2020.
The hospitality firm also said that it is committed to create over 4,000 direct and indirect jobs in the UAE by end of next year.
Commenting on this, Ritesh Agarwal, Founder and CEO of the company, said:
With over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically UAE, is poised to grow substantially and with our market learning and expertise we are ready to tap this opportunity.
OYO currently has presence in over 350 cities with over 12,000 asset partners spread across six countries including India, China, Malaysia, Nepal, the UK and UAE in the Middle East. In India, the company has over 100,000 rooms spread over 230 cities. With over 17 million booked room nights, OYO claims it is close to reaching profitability in its Indian operation.