After entering the markets of Dubai and the United Kingdom, OYO has now announced the launch of its hotel services in the Indonesian market starting from yesterday.
OYO has started its operations in Indonesia with the 30 full-inventory – which includes both operated and franchised exclusive hotels, along with more than 1000 rooms in three Indonesian cities – Surabaya, Palembang, and Jakarta.
OYO also has a plan to invest $100 million in Indonesia and is also planning to launch in more than 35 cities by the end of 2019.
Ritesh Agarwal, Founder, and CEO, OYO, said, “Indonesia is one of the top choices for both global and Indian travelers and with our market learnings and expertise, we are ready to tap this opportunity. This expansion is in line with our quest to support the country’s hospitality ecosystem and creating infrastructure for asset owners to grow and run successful businesses, all of this while ensuring high standards of quality.
He further added, “We want our potential guests and partners to know that with OYO Hotels, they’ve found a trusted solution for all their travel and business needs. We intend to invest over $100 million in this high growth market and plan to expand to the top 35 cities in Indonesia, including Yogyakarta, Bandung, and Bali, over the next 15 months.”
Presently, the properties are going to be under the models of manchise, i.e., a hybrid of franchise and management, which implies lease with full control over the inventory. This is similar to other markets like China and India.