OYO to enter Philippines

Indian hospitality chain OYO is planning to foray into the Philippines market to increase its international footprint, media reports said. Already, the company has on-boarded 10 properties in the Philippines. The Delhi-NCR-based company aims to expand the number of its properties aggressively in the Philippines to tap into the $5 billion market, media reports said. The Indian unicorn currently has a presence in over 350 cities across six countries, including India, China, Malaysia, Nepal, the UK, and UAE. Its first international foray was in 2016. Aditya Ghosh, CEO, OYO India and South Asia, said the company is working on a roadmap to have a room inventory of 10 lakh over the next two years, as against the existing count of around 4.5 lakh. The company aims to further expand this to 25 lakh rooms by 2023. This, he said will help OYO become the 'world's top player from the number three now'. OYO has over 13,000 franchised and leased hotels and adds over 64,000 rooms every month. In India, it has over 8,700 leased and franchised hotels and more than 1.64 lakh rooms. The unicorn claims to have achieved unit-level profitability, and benefits from 90 per cent demand coming from direct channels, which improves operating efficiencies. It also claims that over 67 per cent of the revenue from its India operations comes from repeat customers.