OYO launches 100th Townhouse, aims to reach 400-mark by year-end

Oravel Stays Pvt Ltd, which operates hotel aggregator OYO Hotels & Homes, said on Friday it has opened its 100th OYO Townhouse in India.

The Townhouse was opened in Pune, and is the biggest so far with more than 130 rooms, the company said in a statement. It features a rooftop, specialty restaurant, coffee shop, spa, two banquets and parking space.

OYO had launched the Townhouse concept in India in January 2017. A Townhouse combines the offerings of a hotel, home, merchandise store and café among other things.

OYO says its Townhouse offering is aimed at millennial travellers aspiring for premium economy accommodations.

The company plans to increase the number of Townhouses to over 400 by the end of 2019. The Townhouse is operational in India, UK and the US.

OYO claims the Townhouse has recorded about 90% occupancy rates and 1.3 times growth in the number of repeat customers.

“We will continue to aggressively expand the category by working closely with asset owners to offer quality, convenient and comfortable accommodations at affordable price points,” said Aditya Ghosh, CEO of OYO, India and South Asia.

OYO recently announced that it plans to invest up to $300 million (about Rs 2,086 crore) in the US to expand its presence there.

Last month, it announced the launch of a cash-advance facility under its OYO Partner Engagement Network (OPEN), which was launched to bring on board more property owners on its platform.