OYO Expands its Footprint in UP, Launches Townhouse in Noida
OYO, India’s largest hospitality company, today announced the launch of its mid-market offering ‘OYO Townhouse’ in Noida. The 65 room property located in Sector 62, Noida was inaugurated by Ms. Rita Bahuguna Joshi, Honourable Tourism Minister, UP. The launch further reinforces OYO’s commitment to the market by providing the customers with an offering that combines experience and value at a scale that has never been attempted before in the hospitality landscape.
Noida is one of the fastest growing regions for OYO as the city offers robust opportunities for corporate travel and SMEs travelling to Uttar Pradesh for business. OYO entered the Noida market in November 2014 and currently offers 2000 exclusively controlled rooms in the city as a part of its network. The company plans to expand Townhouse hotels at other popular destinations, including Lucknow and Ghaziabad. With rooms starting INR 2000/- and upwards, Townhouse provides a unique hospitality experience in the heart of popular neighbourhoods. By 2018-end, OYO will launch 10 Townhouse properties in Uttar Pradesh.
Speaking at the occasion Abhinav Sinha, COO, OYO said: “With this launch, OYO has further strengthened its commitment towards creating beautiful living spaces and offering them to customers at an affordable cost. OYO Townhouse defines a unique hospitality experience as it combines our state-of-art technology and designed processes. India’s hospitality industry suffers from a major disconnect between demand and supply of quality living spaces forcing travellers to compromise on location, comfort and pricing. Townhouse addresses this gap by creating a perfect balance between each of these variables.”
OYO has briskly expanded its presence in Uttar Pradesh and transformed the budget hospitality sector via standardizing hotel rooms and exercising end-to-end control over hotel operations and ensuring a quality experience for its guests. OYO currently enjoys a strong network of 4,000 exclusively-controlled rooms across UP and is targeting a 2.5X growth by the end of 2018.
Abhinav further added, “Noida remains a priority market for us. Being a corporate hub, it holds immense potential and long-term prospects for the Indian travel and hospitality sector. We are sure that our customers will love this property which combines an impeccable design, offers world-class experience, facilities and a location, all at one place.”
The company works in close proximity with hotel partners through multiple operating formats – including franchised, man-chised and leased and currently, over 95% of its business is driven by exclusive full inventory partnerships.
The Company has generated new employment opportunities and nurtured micro entrepreneurs. Since inception, OYO has sustained leadership position as the preferred accommodation brand for consumer affordability and high-quality standards. It employs an innovative business model, top quality talent and cutting-edge technologies to offer quality living spaces at affordable prices and the right location to customers.