Hospitality chain Oyo Hotels & Homes announced that it would invest Rs 1400 crore ($ 200 million) in its India and South Asia business in 2019 on Tuesday. The money is set to be invested towards capital expenditure, technology, and leadership, according to Aditya Ghosh, CEO of India and South Asia for Oyo.
While Oyo is focusing on South Asia sector, the company also aims at widening its presence in India. Oyo has expanded to over 10 countries worldwide, including Japan, Nepal, and India.
“With a strong balance sheet, today we can go to more places than ever, introduce new categories and invest in our assets while maintaining our quality standards, without raising any further capital,” said Ritesh Agarwal, Founder and Group CEO.
The company also announced in a press conference in Delhi that a new category called Collection O, which will be added to Oyo’s existing portfolio of hotels. The company will also launch a new feature – SOS button on its application, for the safety of customers. The SOS button will allow customers to contact Oyo’s safety response team and local law enforcement at any hour.