OYO's model is suitable for markets with large share of unbranded budget supply such as South-East Asia, Africa and South America, says OYO Rooms Founder & CEO Ritesh Agarwal
Budget-hotel aggregator OYO Rooms has forayed into the overseas market with the launch of its operations in Malaysia.
Commenting on the development, OYO Rooms Founder & CEO Ritesh Agarwal said: “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, he added.
“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,” Agarwal said.
The company currently offers 40,000 rooms in its network in India, OYO Rooms said in a statement.
OYO Rooms is currently present in over 160 cities in India. The locations includes major metros, regional hubs, top leisure destinations, as well as pilgrimage towns.