OYO Hotels & Homes plans to invest £50 million into the UK, City AM reported on Monday.
Teaser: The hotel chain plans to expand into “premium” properties.
The hospitality chain says that over the next three years, it will focus primarily on premium hotels adding that it is in advanced discussions with several large hotel chains and real estate companies.
In 2024, OYO announced plans to open 40 new hotels in the UK. The company already has over 200 hotels across 65 cities in the country including in London, Manchester, Birmingham and Cardiff.
OYO has also progressed its expansion plans outside the UK – in September 2024, it agreed to buy American budget motel chain Motel 6 from Blackstone for $525 million;
What they said
Puneet Yadav, country head at OYO UK said: “While we continue to cater to the budget segment, we are now focused on expanding through leasehold agreements and management contracts with premium properties. Additionally, we plan to introduce several of our popular European brands to the UK market, further diversifying our offerings and meeting evolving customer needs.”