Hospitality firm Oyo Hotels and Homes has entered Mexico as part of its expansion plans for Latin America, people aware of the development said on Friday.
In August, Oyo partnered with hospitality investment and management company Highgate to open first key flagship property—Oyo Hotel & Casino in Las Vegas, U.S.
"The company has launched operations in Mexico with over 10 hotels," said one of the people cited above. The move is to strengthen the company's presence in the Latin American markets, this person said.
When contacted for comment on the development, Oyo's Chief Operating Officer Abhinav Sinha said, “Mexico, being an emerging tourist destination, is surely on the cards. We, however, can't confirm this at the moment."
Oyo continues to look for opportunities to expand its international presence, Sinha said. "We are currently evaluating several markets across the Middle East, South East Asia, Europe and the U.S.”
Oyo's current portfolio combines fully operated real estate comprising more than 23,000 hotels and 125,000 vacation homes.
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