OYO Hotels and Homes,India’s largest hospitality company as of now flourishes more in china than India.But encounter a rivalry from China;s Jin Jiang – the world’s fifth biggest hospitality organization.
Jin Jiang runs a total of 6,932 hotels spread across 54 nations and about 50 more brands. As of 2017, the company’s turnover remained at 19.75 billion RMB (about Rs 20,800 crore). Royal Tulip, Golden Tulip, Sarovar Hotels, Kyriad and Tulip hotel are its main group brands those are functional in India.
Its subsidiary company – Louver Hotels is now one of the biggest hotel organizations in India with 130 operational properties.
On the other hand OYO Hotels and Homes made its entry into China earlier this year and holds its corporate office at Shanghai. According to the company’s chief executive Ritesh Agarwal, presently the company oversees 180,000 rooms across 4,000 rented and franchised properties in China. Interestingly, the six-year-old organization manages 149,000 rooms in India and south Asia.The hospitality chain is rapidly developing as world’s second-biggest economy, being valued at $5.5 billion after its last financing round.
Being sponsored by Japan’s SoftBank Group, this Gurgaon based organization is having its excellency particularly in the budget segment and the company has a market share of more than 50 percent in the aggregator space.
However it is quite clear that the challenge is bigger. Additionally an overall estimation states that there are more than 4 million unbranded rooms up for grabs in India. Only around 1 million has been tapped into by the hotel aggregator companies till yet. The branded space like those from Taj Group, ITC, Marriott Hotels has only around 100,000 rooms.
