Oyo Hotels Eliminates U.S. and China as Focus for Growth
Photo Credit: Oyo 168 Al Raha Hotel Apartments, Sharjah, United Arab Emirates as seen on April 21, 2020. Oyo plans to focus on India, Southeast Asia and Europe. Flickr.com / Shalika Malintha
Skift Take
Critics have been saying for years that Oyo needed to get its house in order and to tamp down on its reckless growth plans. Whether that actually happens or not will become clear over the next year or two.
Oyo, the India-based budget hotel chain and booking platform, plans to focus its growth efforts on India, Southeast Asia, and Europe while pulling back on its former core markets of China and the U.S.
Ritesh Agarwal, Oyo's founder and CEO, detailed that new strategy at a Reuters Next Newsmaker discussion Wednesday.
This doesn't mean that Oyo, which seemed to value growth at all costs until late 2019 and into early 2020, when it carried ou
