OYO plans to add over 1 million rooms by 2023

India's largest hotel brand OYO is planning to add more than 1 million rooms globally over the next four to five years. The SoftBank funded start-up aims to emerge as the world’s largest hotel brand by room count, overtaking Marriott.

Presently, American hospitality major Marriott is the world's largest hotel brand with approximately 1.4 million keys.

Ritesh Agarwal, Founder and Group Chief Executive Officer at OYO Hotels, said, "We aspire to be the world's largest hotel company built out of Asia with home markets of India and China. Currently, Marriott is the largest and we have a lot of respect for the company. We aspire to be bigger than that. We have already built in the growth rate at which they have been growing in the last couple of years to set our target for 2023."

OYO has expanded its operations from just twenty rooms and a single hotel brand to 330,000 rooms across more than 12,000 franchised/managed hotels.

"We are adding over 50,000 new keys per month. It is a pretty meaningful scale which also puts us in the league of the world’s fastest growing hotel chain," Agarwal added.