In brief: Oyo plans to invest $100m to expand its Indonesia business

Hospitality firm Oyo announced its plans to invest more than US$100 million over the next five years in Indonesia. The company wants to expand its presence to the top 100 cities in the country, including Yogyakarta, Bandung, Surabaya, and Bali. Oyo has reportedly been adding 70 hotels every month to its Indonesian portfolio, and it’s currently operating 150 hotels across 16 cities.

Source: Business Standard