Gurugram-based hospitality company OYO has committed $50 million to push its business across Philippines in a move to boost its international presence. The company forayed in its eighth international market with more than 21 franchised and leased hotels and is currently present across Metro Manila, Tagaytay and Cebu.
Along with the investment, the OYO is also planning to expand its presence across 10 cities by 2020. It is also aiming to generate over 1K direct and indirect employment opportunities.
OYO has been actively focusing on various strategies to explore the opportunities in international market. The company had recently launched its service in the UAE ahead of Dubai 2020 Expo and the UK. According to reports, the company is looking to expand to 100 cities across Indonesia by the end of 2019.
The hospitality giant which is backed by some of the popular investors including SoftBank Group, Greenoaks Capital, Sequoia India, Lightspeed India, and Hero Enterprise will be looking to enter more international markets in coming years.