OYO crosses 100 hotels milestone in Spain in just 1 yr of operation

Oyo Hotels & Homes has crossed 100 hotels milestone in Spain. The hospitality firm has 2,000 guestrooms to its portfolio in the country.

OYO has achieved this milestone in just 1 year of making its Spanish debut. Currently, it is operating hotels in Madrid, Granada, Valencia, San Sebastián, Córdoba, Tarragona, Cuenca, Las Palmas de Gran Canaria, Santiago de Compostela and Salamanca.

Kavikrut, Chief Growth Officer, Oyo Hotels & Homes, said, “In 2020, the company will continue to move towards good and sustainable growth with further improvement in customer service, fair margins and partner experience. Spain is a very mature market and Oyo's business vision and technological prowess are ideal for a large number of independent hotels that may have the advantages of being under a large chain but without losing control of and decision-making power for their hotels.”

Spain: Most relevant tourist destination globally

Spain is one of the most relevant tourist destinations internationally. The country accommodated 82 million tourists from around the world in the last year.

“Spain presents itself as a great opportunity for Oyo and we are delighted to be able to offer an affordable, uncomplicated and quality experience and to leverage the business of the country's independent hotel sector with our technology and operational expertise, which will help improve the customer experience and therefore generate higher revenues for our real estate partners,” Kavikrut further stated.

Tobias Jörk, Country Manager, Spain for Oyo Hotels, added, “This is one of the most dynamic hospitality markets in the world. We want to become the trusted partner of independent hotels across the country with more than 100 hotels. The team and I are very happy to work in such a potential market.” 

OYO’s recent appointment of new COO

Oyo Hotels and Homes has roped in Ankit Gupta as the Chief Operating Officer and SVP of frontier businesses. OYO’s self-operated hotels, including Oyo Townhouse, Collection O, SilverKey, student housing and co-living and OYO Home businesses, are comprised into frontier businesses.

With this new appointment, the company continues with its efforts to invest in and attract world-class leadership for driving innovation and growth in the company.

Rohit Kapoor, CEO of Oyo India and South Asia, said, “Over the last six years, we have invested in building distinctive capabilities in the acquisition, renovation, and upgradation of different forms of real estate. This has helped us offer our patrons unique living experiences while creating value for our asset owners.”

“Ankit’s addition to the team will further help us strengthen our capabilities and drive financial prudence with a clear path to profitability. His industry knowledge coupled with financial expertise will help us drive the next phase of sustainable growth for frontier businesses while remaining true to our core mission,” he added.

Ankit Gupta stated, “I am deeply energised by the fervor and dedication of thousands of OYOpreneurs that are making guest and asset owner delight possible every day, and I look forward to working with them to lead the Frontier Businesses to greater heights. OYO has built an illustrious senior leadership team, arguably the finest in the Indian startup ecosystem, it is an honor and privilege to partner with them.”