OYO to put US$100M more in Indonesia market
Southeast Asia-operated home and hotel room chains OYO has announced its plan to expand presence in 100 cities in Indonesia by the end of this year. Part of its expansion plan is to pour US$100 million of investment into its Indonesia’s operations over the next 5 years.
OYO was first launched in October 2018 in Indonesia and immediately established a presence in Jakarta, Surabaya, and Palembang. It has over 1000 rooms. Fast forward today, OYO Hotels is already operating 150 hotels across 16 cities, claiming to have a five-times jump in growth.
OYO claimed to ride on the smart travelers trend that it has examined in Indonesia. OYO said that smart travelers critically research for high quality, yet affordable accommodation options. OYO Hotels offers through its technology-led hospitality model.
OYO’s localised approach to the market included branded, comfortably furnished rooms with modern amenities and complimentary breakfast, spotless linen, free WiFi, television, and 24/7 support with rates starting as low as IDR 149,000 (US$11) per night and averaging at IDR 230,000 (US$16) per night.