Miguel Cordon · · 1 min readOyo starts operations in Vietnam, to invest $50m for growth in country
Hospitality chain Oyo Hotels and Homes has launched its services in Vietnam and announced plans to invest over US$50 million in the country over the next few years as it continues to build its presence in Southeast Asia.
Photo credit: Oyo
The company said it now has over 90 franchised hotels available across Hanoi, Ho Chi Minh, Da Nang, Phu Quoc, Vang Tau, and Nha Trang. It plans to expand its footprint to 10 cities in the country by the end of 2020.
“Vietnam offers an attractive market with sizeable internet and mobile presence, which complements our approach,” said Dushyant Dwibedy, Oyo’s country head in Vietnam.
Oyo also said in a statement that it aims to become the leading hotel chain in Indonesia, with 720 fully operational hotels across 80 cities in the country and more than 300 expected to be launched over the next two months.
Recently, the company inked a partnership with Chinese ecommerce platform Meituan-Dianping, allowing rooms of Oyo Jiudian, Oyo’s Chinese subsidiary, to be listed on the Meituan Hotels platform.
Editing by Charmaine de Lazo
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