OYO to Invest US$20 Million to Fuel its Malaysian Expansion
India’s largest budget hotel network and hospitality chain, OYO Hotels is gearing up to expand its operations in Malaysia and has committed an initial capital of US$20 million for the expansion.
The company has plans to expand its Malaysian team from 50 to 500 employees where the leadership and employees will comprise of Malaysian locals. Commenting on the recent development, Abhinav Sinha, chief operating officer, OYO Hotels said,
OYO plans to create more than 5,000 new jobs in Malaysia over the next few years, and achieve “twenty-fold increase” by onboarding 1,000 hotels over the next 12 months. We are looking to expand into Sarawak, adding on to the list of 50 hotels it has across major cities in Malaysia, including Kuala Lumpur, Penang, Langkawi, Johor and Melaka.
According to Sin...