Indian budget hotel chain Oyo will fund an additional US$100 million to strengthen its presence in the Indonesia market.
Indonesia is the current focus within the Southeast Asia region and is by far the most populous and arguably the most likely to meet Oyo’s aggressive growth targets.
The Indonesia investment forms part of an overall US$200 million package to grow its Southeast Asia portfolio.
It has signed up more than 1,000 properties since launching in Indonesia across 100 destinations.
The ASEAN region was one of Oyo’s early overseas markets when it launched in 2016 in Malaysia.
Most recently it officially launched in Vietnam this summer.
