OYO Hotels and Homes announced its foray into Vietnam as it continues to strengthen its presence in South East Asia.
The company is starting with 90 franchised hotels across six cities in Vietnam including Hanoi, Ho Chi Minh, Da Nang, Phu Quoc, Vang Tau and Nha Trang. It plans to expand to 10 cities by the end of 2020, said a statement released by the company.
The hospitality unicorn has also promised an investment of over $50 million over the next few years in the country with the mission of transforming its hospitality landscape and creating quality, affordable accommodations. As part of this, it aims to generate over 1,500 direct and indirect jobs into the Vietnam economy.
Commenting on the launch in Vietnam, Dushyant Dwibedy, Country Head – OYO Vietnam, said,
‘’Vietnam is an important market for us in South East Asia. Vietnam offers an attractive market with sizeable internet and mobile presence, which complements our approach. Our priority here is to ensure that we bring OYO Hotels’ top-notch service to the country, with the goal to become Vietnam’s most loved hotel chain. We aim to grow to 10 cities and 20,000 rooms by 2020-end while becoming a household name for both local and international travellers in Vietnam.”
“Our growth in the country will be fuelled by strong local leadership and a team of hundreds of young hospitality enthusiasts. We’ve been responsible for enabling over 300,000 job opportunities in South Asia and look forward to creating 1,500 direct and indirect jobs in Vietnam by 2020.’’
The company also announced that around 1,082 hotels have already joined the OYO’s chain in Indonesia with 720 hotels being fully operational and over 300 upcoming hotels which are under transformation.
This makes a total of 19,750 rooms spread across 80 cities in Indonesia. Philippines and Malaysia also reported continuing growth in assets under management with 8,000 and 1,300 exclusive rooms, respectively.