OYO has said it will spend £50 million (about Rs 540 crore) in the UK over the next three years. This will help OYO grow its top-range hotel choices and make its mark in the UK’s hotel space.
This plan will likely create close to 1,000 direct and indirect jobs. It will also bring in more visitors from other countries, helping the UK’s tourism.
A shift to better hotels
OYO wants to boost its hotels in the UK with a brilliant plan. The firm aims to get more top hotels by making long-term deals to lease or manage them. OYO is in talks with big hotel chains and real estate firms to look for ways to manage these places.
Baroness Poppy Gustafsson OBE, who works for investment, liked the plan and said: “We want to make a strong, safe, and friendly economy, with the UK as a prime spot for cash. OYO’s work with high-end hotels will help our tourism and support our ‘Showcase Britain’ plan, which is about growing the economy as part of our Plan for Change.”
OYO’s growth in the UK
Since OYO came to the UK in 2018, it has grown to over 200 hotels in 65 cities. While the firm has been known for budget hotels, it is now looking to offer more premium options by making lease and management deals. OYO also wants to bring some of its famous European brands to the UK, meeting what customers want today.
OYO is strongest in big cities like London, Manchester, Birmingham, Cardiff, and Brighton. The firm helps hotel owners fill rooms and boost income by using many travel sites and its own app.
Plans for 2024
OYO has big goals to open over 40 premium hotels; it will run itself this year. So far, it has opened 18 hotels and plans to add 22 more in cities like London, Birmingham, Manchester, Liverpool, Glasgow, Bristol, Cardiff, and Edinburgh.
In 2024, OYO’s parent firm, Oravel Stays, made its first move into the UK’s top-tier hotel scene with the launch of SUNDAY Lansbury Heritage in Canary Wharf, which is a big step for its growth plan.
With this large investment, OYO is aiming to become a key player in the UK’s high-end hotel market, building its presence and giving more choices to those looking for a place to stay.
