OYO to invest Rs 539.57 crore in UK to expand premium hotel portfolio

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OYO to invest Rs 539.57 crore in UK to expand premium hotel portfolio - Business Standard

Quick Summary:

Travel tech unicorn OYO on Tuesday said it plans to invest 50 million pounds (Rs 539.57 crore) in the UK over the next three years, primarily to focus on expanding its premium hotel portfolio.

In a significant strategic shift, OYO is actively pursuing premiumization of its UK portfolio, by pivoting towards premium inventory acquisition, focusing on securing long-term leasehold and management contracts.

The company is also in advanced stage talks with several large hotel chains and real estate companies for potential asset management transactions.