OYO Plans Major Expansion with 500 Hotels in Key Religious Cities Across India
Photo Credit: Ritesh Agarwal, CEO and founder of OYO, spoke on-stage at Skift India Summit in Delhi-NCR in March 2024. Skift
Skift Take
OYO plans to add 500 hotels in key religious hubs across India this year, focusing on high-quality accommodations for pilgrims and visitors.
STR reported on China hotel data for the week ended January 18. Hotel RevPAR in China was up 0.8% year over year. The rise occurred even though it was up against a tough +56.6% comp in the year ago. Comps are going to get a lot easier in the coming months. ADR for the week ending January 18th was up 1%, while occupancy was down -0.2%.
The Guangdong Department of Transport said around 206 million people traveled across Guangdong province between January 14 to January 20, up 4.96% year on year. This is considered the initial week of the Lunar New Year travel rush. The expectation for the entire 40 day period they consider the Lunar New Year Travel period is for 9 billion trips across mainland China.
CapitaLand Investment's Ascott Limited unit said it signed 16 new Oakwood brand properties in 2024, up 30% over 2023. The expansion spree includes four additions to the Oakwood Premier portfolio, following the refresh to the brand, aimed at bo
