Hotel aggregator OYO Rooms has announced its foray into south-east Asia, by launching its operations in Malaysia. In one year the company has scaled aggressively and offers 40,000 rooms in India.
“Taking the company international has always been on the cards but we wanted to achieve clear market leadership in India before heading overseas. OYO’s model is suitable for markets with large share of unbranded budget supply such as South-East Asia, Africa and South America. Malaysia is our first port-of-call given the attractive characteristics of the market such as higher-than-average mobile penetration and a large internet population,” said Ritesh Agarwal, founder and CEO of OYO Rooms.
OYO Rooms was founded by Ritesh Agarwal in 2013 and aggregates hotel rooms to offer standardised experience to its customers.
Backed by investors including the SoftBank Group, Greenoaks Capital, Sequoia Capital and Lightspeed India, the start-up currently operates in more than 160 cities in India.