India’s hospitality giant OYO is all set to reach12000 rooms across 150 hotels in all the seven Emirates in UAE by 2020. The five-year-old start-up, which recently raised $1 billion from investors, including SoftBank, is going to be its sixth international market where OYO is going to invest such a huge amount. This opening is going to create over 4000 vacancies, so this is going to be an enormous opportunity for job seekers.
The global hospitality chain of Indian market OYO Hotels & Homes is working on a massive expansion plan in the Gulf Cooperation Council (GCC) countries. This is going to a significant project for OYO. Previously OYO has served over 100,000 guests from more than 78 countries across 1,700 rooms in 80 plus hotels and homes since it stepped in the UAE last year.
Manu Midha, regional head, Middle East, OYO Hotels & Homes reveals that "We are witnessing a sustained increase in bookings from some of the countries, especially from India and China, nearly 25 percent of its total bookings and are on the rise for the upcoming summer months.
Since we established our footprint in the UAE, to address this growing demand shortly, OYO plans to touch close to 12,000 rooms across 150 hotels in all the seven Emirates in UAE by 2020". OYO is now working closely with asset owners across the UAE for its project.
"With over 1,000 weekly flights between India and UAE, coupled with the visa on arrival status for Chinese tourists, UAE is now one of the most sought after destinations for tourists from these two countries. OYO, with its presence across five emirates, including Dubai, Sharjah, Fujairah, Ras Al Khaimah, Ajman, and over 80 hotels and homes are hosting thousands of discerning travelers," the company added.
Talking about the occupancy, Midha said, "We predict 75 percent plus occupancy rate across all OYO hotels and homes during the upcoming summer months."
These properties will be executed under models of a franchise, with full-innovative control similar to other markets like India and China.
"The UAE is an attractive market with a sizeable internet and mobile presence, which complements our approach. We've received an overwhelming response to OYO Hotels offerings in the country since our soft launch and look forward to hosting more guests in the coming years." Vartika Goel, Country Lead, OYO Hotels, UAE said.
The benefit of such a Giant Project
The United Arab Emirates is one of the most popular tourist destinations in the world, especially Dubai and Abu Dhabi. The UAE is also one of the largest oil producers on a global scale. So growing demand for traveling across the country is natural. Keeping eyes on its market OYO plans for the more excellent opportunity.
OYO reveals to create over 4000 direct and indirect jobs in the UAE by the end of 2019 and to host guests in over 12,000 rooms, 150 Hotels and all 7 Emirates, across the United Arab Emirates, by 2020.
There is going to be a massive outcome of this giant project. Twelve thousand hotels are to be made according to that, and many vacancies will be there like In the field of construction, hospitality, hotel management and many more. So this will be one of the most significant opportunities in the UAE for the youngsters or the job seekers.
This necessary incorporation is going to bring lots of investors from all over the world who are going to invest, so there will be business opportunities. For setting up a business registration and licensing is required. Commitbiz helps investors to get the license in Dubai. This vast opportunity is a huge deal to develop the economy of the country as well as going to make a good relationship with India.
The UAE is also a place for the general trading business. By keeping eyes on this occasion, general trading is also going to set its new high.
Many investors such as the SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Hero Enterprise, and China Lodging Group are going to incorporate in this project. So this venture is not only going to help the country economy but also help to build a good relationship with every country.
Closure
OYO chain of hotels is currently spread over 350 cities with more than 12,000 asset partners. And the hospitality giant expanded across six countries including India, China, Malaysia, Nepal, the UK and now UAE in the Middle East. This project will drive many investors to invest in the Gulf Cooperation Council countries. This will be an excellent chance for the UAE to build its network all over the world. Our company Commitbiz helps investors to set their business in the UAE. Starting from registering the company, licensing, accounting and bookkeeping and dealing with the intellectual properties. Contact us to get more information regarding setting up a business in Dubai.
1. What is the speciality of OYO hotels?
Oyo has its own artificial intelligence (AI) based technology to manage the revenue in a better way.
2. What are the significant competencies of OYO? They have taken care of:
Sophisticated franchising and leasing process
Classy renovation and best capabilities
The operations
Owners of assets can expect higher returns.
3. What was the ‘world’s coolest winter’ campaign all about in the UAE?
Across the UAE's seven emirates, the campaign promoted tourism, natural wonders, and exciting locations and experiences.
4. How much was the increase in revenue for the ‘world’s coolest winter’ campaign?
The revenue of UAE’s hospitality sector spiked by 50%.
5. What is the estimated hotel occupancy rate of UAE in 2022?
The estimation is an average of 70.5%, which is 7% more than the previous year.