Oyo to invest Rs 100 Crore in AP
Indian hospitality service and budget hotel network Oyo Rooms is planning to invest Rs 100 crore in Andhra Pradesh in the next five years. Founder of Oyo, Ritesh Agarwal, announced the investment at the StartAP Awards in Visakhapatnam on Friday.
Mr. Agarwal, after winning the Entrepreneur of the Year Award, said, “Visakhapatnam used to be an aspirational place to come during my childhood and it has transformed over the years. I have no question that with the ecosystem support given by the government, the next generation of great companies solving for the modern customer can also come out of here.” He is also keen on setting up a large back-office facility in AP, both for operations within the state and across the country.
In Andhra Pradesh, Oyo has its establishments in Visakhapatnam, Vijayawada, Nellore, Guntur, and others. The company has created 1000 jobs in AP so far and is looking forward to creating another 1000 jobs in the coming 3 years. They are also in discussion with the state government to train people and send them to other parts of the country.
Credits: The News Minute
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