OYO Hotels and Homes, the world’s second-largest chain of hotels, homes, managed living and workspaces was announced as the big winner of the ASEAN-India Excellence and Achievement Award 2019 at the 4th ASEAN-India Business Summit and Business Excellence Award held in Manila, Philippines.
The ASEAN – India Excellence and Achievement Awards acknowledges the contribution of Indian companies that have made significant contributions to strengthen bilateral trade and investment between India and ASEAN member countries.
Mandar Vaidya, CEO, Southeast Asia & Middle East, OYO Hotels and Homes received the award on behalf of the company from Hon. Mr. Ramon M. Lopez, Secretary, Department of Trade and Industry, Philippines. Also present at the ceremony were Honorary Mr. P. Waytha Moorthy, Minister of National Unity and Social Wellbeing, Prime Minister’s Office, Malaysia, His Excellency Jaideep Majumdar and Dato’ Ramesh Kodammal, Co-chair ASEAN – India Business Council.
Accepting the award, Mandar Vaidya thanked the ASEAN-India Business Council for recognising OYO’s presence and contribution to the socio-economic wellbeing and growth of ASEAN.
Mandar said, “ASEAN holds a special significance for OYO. The region was where we signaled our global ambitions when we launched operations in Malaysia in January 2016. Malaysia was OYO’s first foray outside of India. The support we received from the ASEAN-India Business Council and governments across the region continue to be the catalyst for our further growth in ASEAN and beyond. Today, OYO is present in 160+ cities over 1,500+ franchised and leased hotels across Malaysia, Indonesia, Philippines and Vietnam.”
“OYO remains committed to ASEAN. We aim to add 2 million rooms in the region by 2025 and will invest over $50 million each in Vietnam and Philippines and $100 million in Indonesia to transform the hospitality landscape in these 3 countries. As we grow and scale our business across ASEAN, we expect to create more than 1,500 direct and indirect employment opportunities in Vietnam, 1,000+ opportunities in the Philippines and 60,000 similar opportunities in Indonesia (by 2020),” concludes Mandar.
OYO has revolutionized the fragmented and legacy-driven budget hospitality space by empowering small and independent asset owners with the operational capabilities and technology that enables them to compete with big hotel chains and achieve high occupancies and, therefore, yields.
OYO Hotels continues to bring its successful model of combining design, hospitality, and technological expertise, financial acumen and operational capabilities to real estate owners around the world, giving them the ability to get a higher return on investments, access easy financing opportunities, transform their hotels, and offer good quality customer service, thereby significantly increasing occupancy and profitability – in every OYO building.