Oyo Hotels & Homes is planning to invest US$100 million in Indonesia as part of its expansion strategy for Southeast Asia, KrASIA reported, citing Ritesh Agarwal, founder and group CEO of the SoftBank Group Corp.-backed budget hotel chain.
The amount represents half of Oyo Hotels' US$200 million allocation for the region over the next two years.
Agarwal said in a statement that Indonesia is a key to the company's growth in both the region and globally, the Sept. 5 report added.
