Oyo earmarks $300M for U.S. development

India's Oyo Hotels & Homes is planning to invest $300 million for growth, headquarters talent, competency building and infrastructure development across the United States over the next few years. This growth will be driven by the company's Oyo Hotels and Oyo Townhouse brands.

The company is already represented by more than 50 hotels in 10 states and 35 cities, including Dallas, Houston, Atlanta and Miami, and is slated to enter New York, Los Angeles and San Francisco.

The Oyo team plans to partner, manage and open the doors—on average—to one hotel per day.

The company CEO Ritesh Agarwal founded six years ago has since secured investment from Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital and Hero Enterprise. Its portfolio combines fully operated real estate (comprising more than 23,000 hotels and more than 850,000 rooms) and 46,000 vacation homes. 

Now with European vacation-rental company @Leisure Group joining the chain, Oyo has a presence in more than 800 cities in 74 countries, including the U.S., Europe, U.K., India, Malaysia, Indonesia, Philippines, Japan and the Middle East,