OYO to bring your friendly neighbourhood hotel in city

Hyderabad: Buoyed by the high occupancy levels in the Hyderabad market, hospitality startup

OYO

on Wednesday rolled out its first neighbourhood hotel and mid-segment premium offering –

OYO Townhouse

(OTH) – outside Delhi NCR in the city’s upmarket Jubilee Hills area and announced plans to check in around 25 Townhouses in Telangana, primarily Hyderabad, by the end of 2017.

Unveiling the fifth OTH, OYO founder and CEO Ritesh Agarwal told newspersons here that so bullish is OYO on Telangana that of the 60 Townhouses it plans in seven South cities, 25 will come up in Telangana. “A chunk of these (Townhouses) will be in Hyderabad as this year we have no plans of going out of Hyderabad,” Agarwal said, adding that in

Hyderabad Townhouses

are being planned in areas such as Banjara Hills, Hitech City, Gachibowli and Punjagutta. Apart from Hyderabad, Townhouses, which offer rooms at upwards of Rs 2500, are being planned for other south cities such as Bengaluru, Chennai, Kochi, Visakhapatnam and Mysuru. Pointing out that its occupancy rates in the `City of Nizams’ have been higher than OYO’s national average, Agarwal said: “We chose Hyderabad for our debut outside our home turf of Delhi NCR as it has emerged as a cosmopolitan city representing a millennial outlook towards experiences and expectations and a growing set of customers with high disposable incomes.”

He said the hospitality industry in India suffers from a disconnect between demand and supply of quality living space, forcing travellers and city-dwellers to compromise on location, comfort and pricing and it is this gap that OTH aims to address by offering a product balancing the three. The concept, which marks a shift in OYO’s strategy from being just a hotel room aggregator to taking control by leasing and managing hotels, aims to provide a hyperlocal address and seamless hotel experience. Talking about OYO’s performance during the current year, he said growth is expected to be 2.5 to 3 times higher than last year.