OYO Hotels & Homes to invest Rs. 100 crore in kerala
Kochi: OYO Hotels and Homes, operating over 400 exclusive, leased and franchised hotels in Kerala, has announced its expansion plans for the State, investing Rs. 100 crore towards capex, infrastructure and talent in Kerala.
On the back of growing business in the State, the company also intends to open its second OYO Skill Institute in Kerala towards training and development of hospitality professionals. In an effort to support and resurrect small hoteliers and home-stay owners in Kerala during last year’s devastating floods, OYO had set up a dedicated fund of Rs. 1 crore to support its partners with operational capabilities and more specifically transformation services.
Assuring customers and asset owners of business continuity and an elevated experience, the company will also be taking legal action against any person/groups who try to cause disruption of business and inconvenience to both customers and asset owners. OYO recently received an injunction from the High Court of Delhi that prevents individuals and vested interest groups from disrupting business operations of OYO Hotels and assures full support of the law in providing the freedom to OYO Hotels to conduct business as usual.
Currently, OYO has over 6900-plus exclusive rooms, 400-plus hotels across 10-plus cities in Kerala and is set to double its presence and take the count of rooms to about 10,000 by the end of 2019. Since its launch in Kerala in July 2015, OYO has hosted thousands of guests at its hotels while ensuring higher yields for 400-odd asset owners. OYO’s operations in the State are supported by about 250 full-time employees called OYOpreneurs. Today, the majority of the asset owners in Kerala have doubled their income post association with OYO and over 5 per cent have started multiple hotels since joining the OYO family.
Commenting on the commitment to Kerala, Aditya Ghosh, CEO - India & South Asia, OYO Hotels & Homes said, “Kerala is a key market for us at OYO Hotels & Homes. Over the past four years, we have already invested over Rs. 100 crore in the State. We work in close proximity with our asset owners and are humbled to have received the opportunity of supporting Kerala at the time of the floods by creating a dedicated fund of Rs. 1 crore, which was utilized for restoring OYO assets while assisting other smaller hoteliers and home-stay owners resurrect their business. We are focused on enabling economic opportunities at every level and are committed to generating gainful employment and entrepreneurship through our growing network of OYO Hotels and Homes in Kerala. We have already created over 3000 direct and indirect jobs in the State and over 1 lakh across India.”
Already one of the largest purchasers of linen, toiletries and essential hotel supplies in India, OYO is also helping empower multiple ancillary industries in the hospitality ecosystem by leveraging scale to make bulk procurements that are supporting local businesses.