OYO, which is a hospitality firm is now planning to invest around $100 Million in Indonesia in the next five years to expand its presence across the globe.
The company is now adding 70 hotels every month in Indonesia and is closely looking with the presence in 100 cities in the Southeastern Asian Country.
“We intend to invest over $100 million in this high-growth market and plan to expand our presence to the top-100 cities in Indonesia, including Yogyakarta, Bandung, Surabaya that we recently entered, and break into Bali over the next 11 months,” OYO Hotels and Homes Founder and Group Chief Executive Officer Ritesh Agarwal said.
The Hotel market of Indonesia is characterized by the demand-supply imbalance of quality living spaces, and OYO since the launch in the country has also utilized its onboarding, operations and transformational capabilities at the time of creating an equilibrium between these factors, the hospitality firm said.
