OYO, a hospitality technology company, aims to invest £50 million in the UK over three years to expand its premium hotel portfolio, supporting 1,000 jobs in the hospitality sector.
The company is upgrading its UK portfolio by acquiring premium inventory and securing longterm leasehold and management contracts. OYO is in advanced talks with large hotel chains and real estate firms for asset management deals, the company said in a statement released to Indian media.
“OYO’s investment in premium hotels will strengthen tourism infrastructure and support our ‘Showcase Britain’ initiative, helping boost economic growth as part of our Plan for Change,” said Poppy Gustafsson, the UK’s minister for investment.
OYO operates more than 200 budget hotels across 65 UK cities, with clusters in London, Manchester, Birmingham, Cardiff and Brighton. The company also plans to open more than 40 premium self-operated hotels through leasehold contracts this financial year. It has onboarded 18 hotels under this model and plans to add 22 more in cities including London, Birmingham, Manchester, Liverpool, Glasgow, Bristol, Cardiff and Edinburgh.
Puneet Yadav, OYO UK country head, said OYO entered the UK in 2018, leveraging a successful global model.
“While we continue to cater to the budget segment, we are now focused on expanding through leasehold agreements and management contracts with premium properties,” Yadav said. “Additionally, we plan to introduce several of our popular European brands to the UK market, further diversifying our offerings and meeting evolving customer needs.”
Founded in India in 2012, OYO expanded before entering Europe, the US, and the Americas in 2019. In 2024, its parent company, Oravel Stays Ltd, entered the UK premium segment with SUNDAY Lansbury Heritage in Canary Wharf.
SoftBank holds 46.62 per cent of OYO, while founder Ritesh Agarwal owns 33.15 per cent. In December, OYO acquired G6 Hospitality. This deal added 1,500 franchised hotels in the US and Canada.
Reena Barai, chair of the PB Conference, on the podium with Sadik Al-Hasan, Harry McQuillan, Shilpa Shah and Nick Kaye on stage
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