Skift Take
While Oyo may look to go upscale in India its growth strategy in the U.S. primarily relies on its budget hotel segment.
India-based hotel aggregator and operator Oyo plans to increase its U.S. footprint by adding over 250 hotels in 2024. This would represent a 150% uptick compared to the previous year's addition of 100 hotels.
Speaking at the Skift India Summit last month, Oyo Founder and Group CEO, Ritesh Agarwal, reflected on the company's growth in U.S., noting that it had a little over 100 hotels, just two and a half years ago.
With a current count of 320 properties, this expansion marks a strategic move by the company to bolster its presence in the American market.
“The eventual objective is to ensure that every 1 in 10 hotels in the U.S. can proudly associate itself with the Oyo brand,” said Nikhil Heda, head of business development at Oyo U.S.
Expansion PlansThe expansion strategy will target both new and existing markets, including Miami, New York City,