Las Vegas, August 24: Oyo Rooms, India's largest lodging services provider, has gone global by acquiring its first-ever property in the United States. Under an international expansion plan, the company has bought the Hooters Casino Hotel in Las Vegas. The deal was inked by Oyo along with its partner Highgate, a New York-based hotel investment and management company.
The renowned hotel, located near the Las Vegas Strip, has been sold for $135 million according to sources privy to the deal. Post the acquisition, it will be renamed as Oyo Hotel & Casino Las Vegas as part of the re-branding strategy. OYO Hotels to Invest Rs 500 Crore in Uttarakhand to Build Hospitality Ecosystem
Oyo has so far not shared financial details of the high-deal inked along with its US-based partner Highgate. The company has, however, issued a statement acknowledging the acquisition of the Hooters Casino.
“We believe Las Vegas is an exciting city in which to invest as the market continues to evolve with projects such as the new Las Vegas Raiders NFL stadium and the $1 billion expansion of the Las Vegas Convention Center," Abhinav Sinha, chief operating officer of OYO Hotels and Homes USA, was reported as saying.
Sinha further said that the thrust of Oyo, in the time to come, will be expanding its popular concept of "comfort design" to top international cities. The company would be adopting new strategies to further widen its audience, and target the millenials, young executives as well as families, Sinha added.