OYO's £50 Million Investment in UK Premium Hotels

OYO plans a £50 million investment in the UK, focusing on premium hotel expansion. This move aims to boost tourism infrastructure and economic growth, supporting 1,000 jobs over three years. The strategy includes long-term leasehold and management contracts, alongside introducing European brands.

OYO, the travel tech unicorn, announced plans to invest £50 million in the UK over the next three years to expand its premium hotel portfolio. This investment is anticipated to support 1,000 jobs within the UK hospitality sector, according to a statement by the company.

As part of a strategic shift, OYO is focusing on premium inventory acquisition and securing long-term leasehold and management contracts. The company is in advanced negotiations with major hotel chains and real estate firms for potential asset management deals.

The UK Minister for Investment, Baroness Poppy Gustafsson OBE, endorsed the initiative, noting it would bolster tourism infrastructure and contribute to economic growth. Country Head of OYO UK, Puneet Yadav, highlighted the company's ongoing commitment to budget segments while targeting premium properties and introducing European brands to the UK market.