OYO to foray into the US market

Oyo is now foraying into the United States market, making it one of the rare Indian consumer-facing startup to expand into this market. The hospitality company has been aggressively expanding across the world including China.

Oyo has stepped on the gas in terms of expansion on foreign soil after recently closing $1 billion fund-raise by SoftBank. Apart from the new market of US, it is also present in the UK, Indonesia, Nepal, and Sri Lanka among others.

A spokesperson of Oyo said, "We are currently in the early stages of rolling out our first Oyo Townhouses in the States, bringing jobs for the young people and better living solutions for the middle-income population and millennials who are looking for affordable yet good quality living spaces."

"We see great opportunity in this market but also appreciate the competitive nature of franchising and uniqueness of the US," a spokesperson added.