OYO to invest Rs 1,400 cr in India, South Asia region

Mumbai, March 12 (IANS) OYO Hotels and Homes on Tuesday announced a commitment of Rs 1,400 crore for the India and South Asia business.The idea is to further deepen and widen presence across the home country while focusing on aggressive capacity building, the company said. Founder and Group CEO Ritesh Agarwal said, "We are committing over Rs 1,400 crore for technology investments, renovation, and managing investments for the calendar year, and will provide more, if needed, to help the team ensure continued economically efficient growth."In addition, the company said that as a part of this commitment, an industry-first in-app SoS button has been piloted in over 25 cities in India, which activates on check-in and includes options to contact the police as well as OYO's 24X7 Safety Response Team (SRT).
--IANS ravi/sn/vd