Oyo Asset Management Firm Bets on Premiumization With Acquisitions
Photo Credit: Oyo's Sunday Hotel Arshika Sunset Road in Kuta, Indonesia. Oyo
Skift Take
Years ago, Oyo made hotels more affordable for younger travelers. Now with an IPO expected soon, Prism is not holding back as it looks to make the most of the rising demand for premium accommodations.
Sunday PropTech, the hospitality asset management company backed by Oyo-parent Prism, plans to acquire 12 hotels over the next six months as part of its strategy to scale its portfolio of premium and mid-premium properties.
The company said it is in advanced negotiations to buy hotels “where demand for high-quality premium and mid-premium hotels continues to rise.” Seven of the targeted deals are already in the final stages of closure.
“Our focus is on properties in good locations with strong return potential,” said Saurav Agarwal, board member of Sunday PropTech. “The need for high-quality premium and mid-premium hotels, coupled with a growing interest in travel, has been increasing significantly, and we see compelling opportunities to deploy capital in this space.”
The acquisitions will be financed through a mix of debt and equity.
Future Expansion Plans: Beyond the current pipeline, Sunday PropTech plans to pursue more acquisit
