SoftBank backed budget hotel chain Oyo Rooms today hired a former venture capital investor Maninder Gulati, as its head of strategy and corporate development, in a bid to boost up its already hiked business operations and further expand its presence in the country.
Oyo Rooms currently has an inventory of 30,000 rooms in over 130 cities and towns including major metros, regional hubs, top leisure destinations, and pilgrimage towns. This is an enormous leap from the 12,000 rooms count in 73 cities that Oyo rooms had 2 months earlier. Oyo rooms had also raised a $100 million by SoftBank in August, valuing the company at $400 million.
Gulati stated –
Some part of my role will be operational in terms of managing customer experience and supply side, besides focusing on new areas of growth which will be both organic and inorganic.
Gulati had served as a principal at venture fund Lightspeed Venture Partners India, which also happens to be an investor in OYO Rooms. The company believes that Gulati will lead them to right direction and help it to cover around 250 cities.
While Oyo offers three-tap booking app and convenient payment channels for consumers, it empowers unbranded hoteliers to increase revenues by providing access to technology, operational best practices and a national ecosystem of vendors and sales channels.
Oyo Rooms broadly competes with Zo Rooms and Treebo, including new entrants like Gurgaon-based Awesome Stays and Zip Rooms amongst others.