OYO ventures into four-star hotels segment in India

OYO Hotels & Homes has acquired 64-suites building near Ellis Bridge in Ahmedabad. With this, the SoftBank-backed company is foraying into the four-star hotels segment in India.

Indian hospitality unicorn has partnered with Gurugram-based hospitality firm Mountania Developers to redesign the building into a premium hotel, which will be operated under OYO brand, by the end of this year. The new hotel will primarily cater to business travellers seeking a high-quality hospitality experience. 

Aditya Ghosh, CEO, India & SA, OYO Hotels & Homes, said, “I am really excited to announce the opening of our 64 suites up-scale hotel in Ahmedabad. This segment holds a lot of promise for us given the rapid growth of the hospitality industry over the last few years.”

“The building will undergo an exciting transformation to be completed later this year, post which we will formally open the doors to this hotel under a new brand name,” he further stated.

The Ritesh Agarwal-led company will be working with Mountania, which will help buy assets, while OYO will leverage its expertise in property on-boarding, renovation, and redesigning.

Rohit Kapoor, CEO, New Real Estate Businesses, OYO Hotels & Homes, added, “Thrilled to announce that we have partnered with Mountania Developers, a partner company that has acquired a 64-suites building near Ellis Bridge in Ahmedabad, which will be operated under the OYO brand by redesigning it into a premium upmarket hotel. We continue to explore more such opportunities to create unique experiences for our guests from around the world.”

OYO also aims to foray into the five-star and seven-star hotels categories as well. 

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