A OYO franchised hotel in District 7 in HCM City. — Photo courtesy of the organiser

OYO Hotels and Homes, the world’s fifth-largest and fastest-growing chain of leased and franchised hotels, homes and spaces, announced its presence in Viet Nam on Tuesday.

OYO now has 90 franchised hotels with 1,500 rooms across six cities, including Ha Noi, HCM City, Da Nang, Phu Quoc, Vung Tau and Nha Trang.

It targets to have hotels in 10 cities with 20,000 rooms.

The company committed an investment of US$50 million in transforming the country’s hospitality landscape and creating quality affordable accommodations over the next few years.

It also aims to create 1,500 jobs in the field of housekeeping, front office, F&B, general management, civil engineering, data science, hospitality operations, and technology.

Launched in 2013, OYO has revolutionised the fragmented and legacy-driven budget hospitality space by empowering small and independent asset owners with operational capabilities and technology. — VNS