Oyo launches in London, will expand to 10 more cities in the UK – MediaNama


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Oyo has launched in London, and plans to launch in 10 different cities within the UK together with in Manchester, Birmingham, Glasgow, and Edinburgh by 2020. In June, we reported that Oyo might need opened store in London. Oyo will make investments £40 million for the UK enterprise and provide Oyo Townhouses. For the time being, Oyo is obtainable in four properties with 80 rooms in London and can add 5,000 rooms within the subsequent 15–18 months.
Its UK arm will perform in the identical method because the India and China ones — lease with stock management. Oyo’s founder Ritesh Agarwal stated that the UK was a multi-billion greenback alternative for the corporate as a result of it’s a prime journey vacation spot and hosted over 19 million vacationers final yr. The corporate has appointed Jeremy Sanders, a British entrepreneur, to guide the UK arm. Oyo may even rent 100 “OYOpreneurs” — workers who act like entrepreneurs throughout the UK.
Oyo’s worldwide presence to this point

In Might, Oyo commenced operations in China with about 11,000 rooms in 26 cities

In India, Oyo has diversified from lodge aggregation to a number of verticals

It acquired wedding ceremony market Weddingz.in for entry to Weddingz’s 1500 wedding ceremony occasions, a listing dimension of 40 banquets throughout Mumbai and Delhi. This was following the launch of Auto Celebration a service the place it offered occasion planning for weddings and different occasions, and provided catering, decor and occasion planners.
It acquired service residence operator Novascotia Boutique Houses to cater to company shoppers.
It launched premium resorts as a brand new class on its platform.

The corporate has cumulatively raised round $473 million from buyers. Final September, the corporate raised $250 million in a Sequence D spherical led by current investor SoftBank. Following that, in the identical month, Oyo additionally attracted an funding of $10 million from China Lodging Group Ltd.

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