Hospitality firm OYO has forayed into Indonesia, marking the seventh overseas expansion for the SoftBank-backed company.
OYO started its Indonesian operations with over 30 exclusive hotels and more than 1,000 rooms in three cities including Jakarta, Surabaya, and Palembang.
As part of its expansion in Southeast Asia, OYO is planning to invest $100 million in the country. The company will also look to launch in more than 35 cities by 2019.
Ritesh Agarwal, Founder and CEO, OYO, said, "Indonesia is one of the top choices for both global and Indian travelers and with our market learnings and expertise we are ready to tap this opportunity. This expansion is in line with our quest to support the country’s hospitality ecosystem and creating infrastructure for asset owners to grow and run successful businesses, all of this while ensuring high standards of quality. We want our potential guests and partners to know that with OYO Hotels they’ve found a trusted solution for all their travel and business needs. We intend to invest over $100 million in this high growth market and plan to expand to the top 35 cities in Indonesia, including Yogyakarta, Bandung, Bali, over the next 15 months."
