OYO enters Mexico as part of expansion plans in Latin American markets

Hospitality firm OYO has entered Mexico as part of its expansion plans in Latin American markets, sources aware of the development said on Friday. Earlier in August, the company had said it was expanding footprints in the US and partnered with hospitality investment and management company Highgate to open first key flagship property -- OYO Hotel & Casino in Las Vegas, US.

"The company has launched operations in Mexico with over 10 hotels," one of the sources told PTI. The move is to strengthen the company's presence in the Latin American markets, the sources added.

However, when asked about the development, OYO Hotels and Homes Chief Operating Officer Abhinav Sinha said, "Mexico, being an emerging tourist destination, is surely on the cards. We, however, can't confirm this at the moment." OYO continues to look for opportunities to expand its international presence, he added.

"We are currently evaluating several markets across the Middle East, South East Asia, Europe and the US," Sinha said. OYO's current portfolio combines fully operated real estate comprising of more than 23,000 hotels and 125,000 vacation homes.

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