Oyo Hotels & Homes revealed it reached more than 100 hotels open in 21 states and more than 60 cities—including Dallas, Houston, Los Angeles, Seattle, Atlanta and Miami—this summer. The hospitality company, with more than 20,000 properties open worldwide, formally launched its presence in the United States in June and asserts it currently is opening one or more properties per day.
“We are excited with our rapid growth and early success in the U.S., our newest home-market,” said Ritesh Agarwal, founder/CEO of Oyo Hotels & Homes.“The U.S. is a key home-market for us given the huge potential. While we continue to transform buildings across the country, we want to stay true to our philosophy that everyone, every day, should be #LivingTheGoodLife.”
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As of July, Oyo had 112 hotels open, up from 68 in June. The company plans to invest $300 million in the United States over the coming years.
As previously reported in Hotel Management, less than a month ago Oyo Hotels & Homes unveiled plans to convert the Hooters Casino Hotel in Las Vegas into its first flagship property. Highgate will manage the 657-room hotel and Paragon Gaming will continue to operate the 35,000 square-foot casino. To be named the Oyo Hotel & Casino Las Vegas, the property also will feature two signature restaurants, four bars, a fitness center and an outdoor pool.
Since Oyo Hotels & Homes launched six years ago, its investors have included Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital and Hero Enterprise. In July, the company revealed Agarwal had signed a $2 billion primary and secondary management investment round, tripling his stake in the business to 30 percent.