OYO seeks Southeast Asia expansion after big funding round
India based budget hotel aggregator OYO is gearing up for a big push into Southeast Asia on the back of a bumper funding round.
It raised US$250 million in Series D funding led by SoftBank.
That multi-million dollar war chest will go toward adding 10,000 rooms to the network each month.
"In less than four years, OYO has become India’s largest hospitality company in terms of network presence and inventory. Travellers and city-dwellers alike have embraced our offering of hassle-free and affordable stay accommodation, available anytime anywhere, at the touch of a button," said CEO and founder Ritesh Agarwal.
"We will also deploy fresh capital to take our made-in-India business model to international markets."
OYO is pivoting towards Southeast Asia
It entered Malaysia in early 2016 but has not yet built on that to expand elsewhere in the region.
It will face competition from several other budget hotel aggregators with similar business models, already established in the ASEAN region.
These include Zen Rooms, Airy and NIDA Rooms.
The OYO Rooms brand markets budget hotels with standardised service levels and amenities, and also has a separate Townhouse brand for mid-market properties.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025