OYO has unveiled its first luxury hotel in Dubai, named Palette Royal Reflections Hotel and Spa, aiming to tap into the rising influx of Indian tourists to the city. This strategic move is part of OYO’s efforts to expand its portfolio of high-end properties globally, especially as the company prepares for its upcoming IPO.
The launch coincides with Dubai’s recent relaxation of visa rules for Indian tourists, prompting OYO to project a significant increase in Indian visitors in 2024. OYO expects over 100,000 Indian tourists to visit Dubai this year, attracted by the city’s luxury shopping, stunning architecture, and vibrant culture.
OYO’s strategy is to strengthen its presence in the premium property sector worldwide, with a particular focus on the Middle East. Currently, OYO operates more than 700 properties across the UAE, with over 200 in Dubai alone, demonstrating its robust presence in the region.
India remains the largest market for Dubai tourism, with 11.9 million visitors in 2023. This is followed by Saudi Arabia with 6.7 million and the UK with 5.9 million tourists. Nitin Gupta, Business Head for OYO in the Middle East, highlighted the growing demand from Indian tourists for luxurious accommodations, which OYO aims to fulfill with its new venture.
The Palette Royal Reflections Hotel and Spa is expected to significantly enhance OYO’s offerings in Dubai’s competitive hospitality market, catering to the needs of affluent Indian travelers.
Source: India Today
