India-based global hospitality chain, OYO Homes & Hotels has signed an MoU (Memorandum of Understanding) with the Saudi Arabian General Investment Authority (SAGIA). Through this deal, the hospitality major will invest $1 billion to expand its operations in Saudi Arabia by adding luxury and upper-budget/mid-segment hotels to its chain in the coming months.
OYO’s expansion plans in Saudi Arabia is aimed at tapping the region’s hospitality sector and provide a standardized accommodation to travellers across GCC countries, India and other international tourists, including business and pilgrimage travellers. Besides, it has also announced to set up two OYO Skill Institutes to train Saudi graduates in hotel management.
