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OYO Hotels and Homes to invest Rs 1,400 crore in India business this year

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OYO Hotels and Homes will be investing Rs 1,400 crore to grow its business in India and South Asia this year. Aditya Ghosh, CEO - India and South Asia of OYO  Rooms spoke to CNBC-TV18 about the company's plans and revenue targets.

OYO Hotels and Homes will be investing Rs 1,400 crore to grow its business in India and South Asia this year. Aditya Ghosh, CEO - India and South Asia of OYO  Rooms spoke to CNBC-TV18 about the company's plans and revenue targets.
“In terms of investments, we have said that we are going to invest about Rs 1,400 crore or $ 200 million into the business in India which will have a variety of different things that we will use that money for," said Ghosh.
Talking about the company's revenue targets, Ghosh said, “We closed December 2018 with about a 172,000 rooms. Today, we are well over 200,000 so we are in the 200,000 to 300,000 range so you got to make a guess till we come up with a public announcement about it.
"That basically means that we would have grown at about 25-30 percent already in the first six months.”