India's OYO Hotels & Homes has officially launched in Vietnam, following several months of developing its Vietnamese brand. The SoftBank-backed chain, which claims more than 90 hotel partners across Vietnam, will invest up to $50m to achieve its target of becoming the largest hotel chain in the country by Q4 2020, with 20,000 rooms across 10 cities. OYO has partnered with mid-range and budget hotels that pay to join the chain and will adopt its technology, according to OYO Vietnam head, Dushyant Dwibedy. In a press release, OYO's CEO said it was "proud to be Vietnam's first luxury brand to enter Vietnam".
India's OYO Hotels & Homes has officially launched in Vietnam, following several months of developing its Vietnamese brand. The SoftBank-backed chain, which claims more than 90 hotel partners across Vietnam, will invest up to $50m to achieve its target of becoming the largest hotel chain in the country by Q4 2020, with 20,000 rooms across 10 cities. OYO has partnered with mid-range and budget hotels that pay to join the chain and will adopt its technology, according to OYO Vietnam head, Dushyant Dwibedy. In China, OYO is moving to a guaranteed revenue model for its partner hotels.