In brief: Oyo launches in Saudi Arabia

Hospitality firm Oyo has launched operations in Saudi Arabia, signing deals for 50 hotels with more than 3,000 rooms across seven cities.

These properties will be operated under the franchise model with full inventory control similar to other markets like India and China, Oyo said in a statement.

Source: The Economic Times

The Indian online hotel brand said it expects to create 5,000 jobs for citizens of the Middle Eastern kingdom by next year. It will also set up Oyo Skill Institutes in the cities of Riyadh and Jeddah to offer hospitality training.

In addition to Saudi Arabia and its native India, Oyo operates in China, Indonesia, Malaysia, Nepal, the Philippines, United Arab Emirates, and the UK. It’s expected to enter Sri Lanka and the US in the near future. More than 13,000 franchised or leased hotels and 6,000 homes are in its network.

Oyo recently closed a US$1 billion funding round with investment from SoftBank and ride-hailing giants Didi and Grab.