SIX months after it started operations in the Philippines, OYO Hotels & Homes continues to grow its presence, announcing recently that its hotels in the country now number more than a hundred.
In a statement, OYO Country Head Ankit Arya called the milestone “a big moment for us,” saying that since its local launch, the South Asian hospitality company had “captured the imagination of millions of value-conscious and globetrotting travelers….”
“The Philippines is a very important market for us, and we have already committed [to invest more than] $50 million….” he added.
The official also said OYO had expanded to more than 15 cities nationwide — including Makati, Mandaluyong, Manila, Muntinlupa, Quezon and Taguig, as well as Cebu and Davao — which it attributed to “strong local talent and execution.”
According to the firm, it recorded the highest number of bookings in Manila, Cebu and Davao.
“[W]e are reinforcing our mission of creating quality living spaces for everyone and are geared toward expanding operations to many more cities” by yearend, he added.
“This [rapid] growth has been [made] possible [by] the active participation of hundreds of asset owners, OYO’s loyal customers and over 200 OYOpreneurs [employees] across the Philippines.”
One such owner, Ricardo Gumanit of OYO 165 Circle B Apartelle & Suites, testified to the hotel chain’s expertise, praising it for helping strengthen his establishment.
“For small hotels like ours, running the business proved to be a challenge due to the lack of experience and proper resources. That is, until OYO came in,” Gumanit said.
“OYO [helped] us manage and control our system. They also helped us establish an entire system for bookings, reservations and guest management,” he added.
Since its establishment in 2013, OYO claimed it made an impact on the fragmented and legacy-driven budget hospitality space by empowering small and independent asset owners with the operational capabilities and technology they need to compete with big hotel chains and register high occupancy rates.
Its most prominent investors including Airbnb, SoftBank Vision Fund and Lightspeed Venture Partners.