Spain is one of the world’s top tourist destinations. “Our value proposition and comprehensive support services have allowed us to go global. We can say that we have achieved some success in replicating, but also adapting, our model to new markets.” – Abhinav Sinha, COO of OYO.
So the so-called "hostels" also known as low-cost hotels have a minimal level of development in Spain, so it is a business to be exploited, despite the fact that this market has been increasing due to the popularity of tourist apartments and new platforms for young people such as Airbnb .
In Spain, the profitability per square metre of this type of space could be much higher than that of conventional tourist accommodation, since in hostels you pay per person and not per room.
In the words of OYO's COO: “ Spain is a market that we are belgium whatsapp number database excited about and where we are working to lay the foundations .”
Furthermore, another aspect that could predict that this type of low-cost hotels in Spain will be a huge success is that this business model has fewer limitations for its growth and expansion, since only floors and not entire buildings are needed for the accommodation of tourists, obtaining more opportunities for location, variety and interest.
With the rise in Spain of new hostels and hotels born from the demand of people under 35 years old in search of new adventures, but who need spaces that guarantee them quality and a good location, OYO has a new bet for Europe.
Since last year, OYO had announced its entry into the United Kingdom with an investment of 40 million pounds , of which it obtained a presence in approximately 50 hotels with a capacity of one thousand rooms.
In the portfolio of this famous hotel chain, travelers can find different value offers under the names of OYO Rooms, OYO Townhouse, OYO Home, Silverkey, Palette Resorts, Collection O, Capital O and OYO LIFE, with the aim of giving these people the best stay in any city in the world.
For its part, OYO Rooms established as part of its expansion plan to Spain, appointing Oriol Maresch, former Director of Development and Operations of Best Western, and Irene García, formerly of Husa, for the development of the business in this country.
According to reports, OYO already has more than twenty hotels in this Eurozone country , with Barcelona being the city with half of its hotel projects underway corresponding to hostels, guest houses, lodges and tourist apartments.
[Tweet “OYO has more than twenty hotels in Spain and its initial niche has focused on Barcelona.”]