OYO to Invest Rs 100 Cr in Capex, Talent, Infrastructure in Kerala – CORPORATE ETHOS

OYO to Invest Rs 100 Cr in Capex, Talent, Infrastructure in Kerala

By: | June 27, 2019

June 27:  OYO Hotels and Homes, which operates over 400 exclusive, leased and franchised hotels in Kerala, has announced its expansion plans for the state. The hotel chain aims to invest 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 homestay owners in Kerala during last year’s devastating floods, OYO had set up a dedicated fund of Rs 1 crore to support our partners with our operational capabilities and more specifically transformation services that will help them upgrade their properties.  

Assuring customers and asset owners of business continuity and an elevated experience, the company said it 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 6,900+ exclusive rooms, 400+ hotels across 10+ cities in Kerala and is set to double its presence and take the count of rooms to 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+ asset owners.  OYO’s operations in the state are supported by 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% have started multiple hotels since joining the OYO family.

Aditya Ghosh, CEO – India & South Asia, OYO Hotels & Homes said, “Kerala is a key market for us at OYO Hotels & Homes. Over the past 4 years, we have already invested over 100 crores 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 1 crore, which was utilized for restoring OYO assets while assisting other smaller hoteliers and homestay 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. We are excited to note that over half of the 100,000 jobs created by us were in smaller towns and cities of India. As we grow at scale, so does the possibility of an entrepreneurial ecosystem of direct and indirect employment. We, therefore, aim to double economic opportunities created by 2020.”

Overall in India so far, OYO has already created over 100,000 direct and indirect employment opportunities and spurred micro, small & medium scale entrepreneurs through its hospitality business spread across 260+ cities, 9,000+ buildings (hotels and homes) and 176,000+ rooms. The company further announced today, that it aims to double the economic opportunities generated in the state by 2020.