OYO, India’s largest hospitality company, has now become China’s second largest hotel chain, the New Indian Express reports. The company in a statement on Wednesday (22 May) said that it had overtaken some of China’s most prominent brands- Home Inn and Hanting to become the second biggest hotel company in the country.
Speaking on the same, OYO China COO, Sam Shih said: “We have ensured you can get a great living space in less than RMB 150 ($22) where every day, over 2,00,000 heads are on OYO Jiudian pillows due to the great experience and low cost.”
The company has achieved this feat in just 1.5 years, expanding to 320 Chinese cities with over 10,000 branded hotels and 450,000 rooms. The company at present have less than two per cent of China’s accommodation market, which has a total size of 35 million rooms.
Sam added that “To ensure asset owners have improved visibility on potential customers from around the world, OYO Hotels is exploring ways to collaborate with online travel agents such as Fliggy, Ctrip and others, along with other consumer traffic-building platforms.”
The hospitality chain boasts of 97 per cent renewals of franchise partners with a two-time increase in occupancy. It also claimed that most or all of the asset owners who joined OYO for three months or more had come back.
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