OYO to invest GBP 50 million in UK’s premium hospitality market – ET TravelWorld

Global hospitality technology company OYO today unveiled plans to invest GBP 50 million in the UK over the next three years. The investment will primarily support the growth of OYO’s premium hotel portfolio across the country. This strategic move is expected to create 1,000 direct and indirect jobs, while also contributing to the UK’s tourism sector and attracting more international visitors.

In a key strategic shift, OYO is prioritising the premiumisation of its UK portfolio. The company is pursuing a multi-pronged approach, focusing on the acquisition of premium properties and securing long-term leasehold and management contracts. Discussions are already underway with major hotel chains and real estate companies for potential asset management transactions.

Minister for Investment, Baroness Poppy Gustafsson OBE, welcomed OYO’s commitment, stating, “Our mission is to create a strong, stable and pro-business economy, with the UK remaining one of the best destinations in the world for investment. OYO’s investment in premium hotels will not only strengthen our tourism infrastructure, but back our ambitious ‘Showcase Britain’ initiative, helping to boost economic growth as part of our Plan for Change.”

Puneet Yadav, Country Head – OYO UK, added: “OYO entered the UK market in 2018 and has since expanded to over 200 properties in 65 cities. While we continue to serve the budget segment, our focus now is on acquiring premium properties via leasehold and management agreements. We are also introducing popular European brands to the UK, expanding our offerings to meet evolving customer demands.”

The announcement was made alongside the Nasscom delegation to the UK, organised by The Department of Business and Trade, UK. Rajesh Nambiar, President of Nasscom, noted, “India’s tech startup ecosystem has evolved into a global force, and companies like OYO are strengthening trade ties between the UK and India, helping to increase bilateral trade.”OYO already has a substantial presence in the UK, with more than 200 hotels across cities like London, Manchester, Birmingham, Cardiff, and Brighton. The company is set to open 40 premium self-operated hotels through leasehold contracts this financial year.