India’s Oyo Hotels eyes expansion in Saudi Arabia

17/07/2019 Argaam

 

India-based global hospitality chain, Oyo Hotels and Homes Co., plans to expand its offerings in Saudi Arabia over the coming few years, Arabian Business reported, citing the CEO.

 

“We are planning to create up to 5,000 vacancies for Saudis by the end of 2020,” Ritesh Agarwal, CEO of Oyo Hotels, said.

 

“We look at Saudi Arabia as a very strategic growth market,” Agarwal said.

 

He also said Oyo currently manages more than 80 buildings and properties in over ten Saudi cities, including Riyadh, Jeddah, Dammam, Taif and Abha.

 

“We’re in markets where having a great quality experience at the right price point really matters,” Agarwal added.

 

In February 2019, the Public Investment Fund (PIF) and Oyo signed a memorandum of understanding (MoU) in which they agreed to explore investment opportunities, create new jobs and develop new sectors.

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