OYO ROOMS - EXPANDING ITS FOOTPRINT IN GLOBAL MARKETS
Industry Overview:
Dubai’s Hospitality sector is among the top global performers. Despite facing challenging market conditions, it is gearing from more than 20 million visitors at the World Expo 2020. A fastest growing hotel market and rising visitor arrivals, Dubai is looking to the future with value of its major projects reaching more than US$860 million delivered in Q1, 2018 and expected to reach with an estimated value of 2.2 billion.
Dubai: A cultural dynamism hub, has become a must-visit destination for adventure lovers, shoppers and also not to forget the event industry assisting growth in both the hospitality and tourism sectors. Helal Saeed Almarri, director-general of Dubai Tourism, has said with international and local investors, and operators continuing to actively pursue opportunities in Dubai. Dubai will witness sustained growth in inventory in line with the projected demand for occupied nights and also further diversification across various asset classifications.
Key Statistics:
- ● Dubai’s hotel and hospitality sector are poised for greatness with number of rooms increasing rapidly and reaching 100,000 mark.
- ● More than 10 million visitors welcomed overnight by Dubai every year.
- ● Most importantly over 350,000 jobs are supported by the Hospitality and Travel industry in Dubai
- ● China, Russia and Europe have contributed to the growth of tourism sector worth AED109 billion ($29.68 billion) a year in 2017.
Looking at these numbers the growth looks substantial and is expected to only become greater in the near future.
OYO Rooms:
OYO is one of the most fastest growing successful branded network of hotels offline and online. With current valuation of nearly INR 3.6 Billion (1.85 billion Dirhams) OYO provides travellers cost effective and standardised rooms with seamless customer experience. OYO have been always ahead of offering quality living spaces at an affordable cost while ensuring an end-to-end control over the experience of guests.Driven by both innovation and technology, OYO Rooms introduced various technological transformation in Hotel Industry.
It would be interesting to witness the growth of OYO in UAE conditions. Ritesh Agarwal, Founder and CEO, OYO Hotels looks optimistic towards the growth and sustainability of OYO in UAE and GCC countries: “with over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically the UAE, is poised to grow substantially and with our market learning and expertise we are ready to tap this opportunity. We’ve been at the forefront of budget and mid segment hotels revolution in the markets that we operate in and can bring in our operational expertise and technology edge to the benefit of the independent hotel owners”.
OYO will offer guests the best quality and seamless yet cost-effective experience – perfectly suited for the needs of millennial travelers, aspiring for hassle free accommodations. They will operate with models similar to other markets like India and China - models of manchise and lease with full – inventory control. Moreover, OYO looks to expand its footprint in Europe and will be investing €300 million ($335 million) in its vacation home rental business and another $300 million in U.S.
How Bayolu Innovations can assist companies similar to OYO for their business needs?
Bayolu Innovations is one of the leading I.T consulting companies in Dubai. Bayolu Innovations has been assisting top clients like Sharetea, Makati Express etc. for their I.T Business needs. Main reasons that differentiates Bayolu Innovations from other Software development companies are:
- ● Deep diving and creating solutions as per client’s niche requirements to achieve their goals and objectives
- ● Bayolu Innovations focuses on engaging with their clients on long term relationship rather than one time transacional business
- ● They offer seamless post sales support, constantly seeking for client feedback and implementing the same
- ● Accomplished and highly skilled software architects, engineers and developers are determined to achieve solid growth in the web solution market.
- ● Experience in developing and successfully delivering projects in UAE
