Ritesh Agarwal, the founder and group CEO of Oyo, has announced that his company is doubling down on its efforts in Indonesia this year, with a focus on its premium hotel brands, Townhouse Oak and Collection O.
These premium hotels will offer a unique blend of design, service, and safety standards to meet the growing demand for high-end accommodation in Indonesia.
“We are doubling down on Indonesia this year with our premium hotel brands Townhouse Oak and Collection O. These brands feature the best of premium hospitality with industry-leading design, service and safety standards!," Tweeted Ritesh.
With the Indonesian Ministry of Tourism targeting a rise in international tourist arrivals in 2023, the country's hotel industry is expected to grow, and Oyo aims to play a significant role in this growth.
According to a report by JLL, the hotel industry in Indonesia is expected to see a positive outlook with an investment of $300 million predicted this year.
Oyo's strategy for success in Indonesia involves three main components: a focus on local market potential, technological innovation, and industry collaboration. The company intends to identify premium properties and provide them with the latest technological tools to improve their revenue and visibility. One such tool is Oyo 360, an AI-based self-onboarding tool that makes it easier for patrons to enroll and go live in just 30 minutes.
Why Oyo Is Bullish On Indonesia?
"The demand for premium accommodation in Indonesia is on the rise and with the Ministry of Tourism targeting more international tourist arrivals in 2023, it's a great time for us to expand in this sector," tells Ritesh in his Tweet.
The company plans to expand across several key regions in Indonesia, including Jabodebek, Java and Bali, Sumatra, Kalimantan, and Sulawesi. By offering the best of both business and leisure facilities, Oyo aims to cater to the diverse needs of travelers visiting the country.
Indonesia is one of the most mature and promising markets for Oyo, with a significant number of units and opportunities for growth. With its focus on premium hospitality and cutting-edge technology, the company hopes to establish a strong presence in the Indonesian market and play a key role in the growth of the country's hotel industry.
Oyo's decision to double down on its efforts in Indonesia is a testament to the growth potential of the country's hotel industry. By offering a unique combination of premium hospitality and innovative technology, the company aims to establish itself as a leading player in the Indonesian market and contribute to the growth of the country's tourism sector.