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Mexico on the radar for Oyo Hotels and Homes
India budget hotel chain Oyo Hotels and Homes has yet another new market in its sights.
It has made a first move into Latin America with a handful of hotel signings in Mexico, according to people aware of the development.
It has launched with more than 10 hotels, according to the source.
Oyo has declined to comment, but chief operating officer Abhinav Sinha all but confirmed the news.
"Mexico, being an emerging tourist destination, is surely on the cards. We, however, can’t confirm this at the moment. Oyo continues to look for opportunities to expand its international presence," Sinha told Bloomberg.
A move into Mexico makes sense, purely to boost its brand recognition in the all-important US market.
More than 56% of all international air arrivals to Mexico are from the US.
Oyo recently made a big push in the US market, and signed a landmark deal to take over the Hooters Hotel and Casino in Las Vegas.
In June this year, Oyo announced it would inject $300 million to increase the number of hotels across the US.
The company also revealed this week it has now has a presence in 500 cities in its home market of India.
Globally, Oyo says its portfolio numbers about 23,000 hotels and 125,000 vacation homes.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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