OYO Opens First Luxury Hotel in Dubai - Premium Portfolio Expansion

New Delhi, Jun 24 (PTI) Travel tech platform OYO on Monday announced the opening of its first luxury hotel in Dubai -- Palette Royal Reflections Hotel and Spa -- as the IPO-bound unicorn eyes strengthening its premium property portfolio globally.

The company expects the number of Indian tourists to grow significantly in 2024 after Dubai relaxed visa policy for them earlier this year.

"OYO is expecting more than 1 lakh Indian tourists to visit Dubai this year. Dubai has long been a favourite destination for Indian travellers, thanks to its luxury shopping, stunning architecture, and vibrant culture. The launch comes as the emirate prepares to welcome a record number of Indian tourists in 2024," OYO stated.

The initiative is part of OYO's ongoing efforts to strengthen its premium property footprints across the world, including the Middle East.

OYO has over 700 properties in the UAE, including over 200 only in Dubai, the company said.

India is the biggest source country for Dubai tourism. The country ranked on top in terms of the number of passengers with a total of 11.9 million visitors to Dubai in 2023, followed by Saudi Arabia with 6.7 million tourists and the UK with 5.9 million.

Nitin Gupta, Business Head, OYO Middle East, said, "We have been seeing a surge in the number of Indian tourists asking for luxury accommodation in the region. OYO plans to meet the requirements of tourists visiting Dubai through this initiative.