The Indian hospitality firm, Oyo is increasing its footprint in the overseas market. The hospitality company has lately entered Mexico as part of its expansion schemes in the Latin American market, sources told the daily news.
In August 2019, the firm had said that it was expanding footprints in the US and partnered with hospitality investment and management company Highgate to open first key flagship property -- OYO Hotel Casino in Las Vegas, US., as reported by the daily news, The Economic Times.
"The company has launched operations in Mexico with over 10 hotels," one of the sources told Press Trust of India (PTI).
The move is to strengthen the company's presence in the Latin American markets, the sources told the daily news.
"Mexico, being an emerging tourist destination, is surely on the cards. We, however, cannot confirm this at the moment," Chief Operating Officer at OYO Hotels and Homes, Abhinav Sinha told the daily news.
OYO continues to look for opportunities to expand its international presence, Sinha added.
At present, the hospitality company has a wide realty sector nexus, comprising over 23,000 hotels as well as 125,000 vacation houses.
OYO, which is administered by Oravel Stays Pvt. Ltd, was established by Ritesh Agarwal in 2013. The company is headquartered at Gurgaon, Haryana.