OYO acquires Las Vegas’ Hooters hotel and casino
OYO rooms is India’s largest hospitality company, a chain of hotels that has kept everyone’s eyes rolling after it entered the US market with a single property in Texas earlier this year. OYO had gone global by acquiring their first-ever property in the United States, and they don’t seem to want to stop there.
They have partnered with Highgate, a New York based hotel management and investment company and acquired Hooters Casino Hotel in Las Vegas, in a deal worth approximately $135 million. Hooters is operated by Paragon Gaming and has a total of 696 rooms with a massive 35,000 square foot casino.
With the global expansion of OYO rooms, the casino will undergo a transformation and be renamed as OYO Hotel and Casino Las Vegas as a part rebranding strategy. Abhinav Sinha, CEO of OYO Rooms, believes that Las Vegas is an exciting city to invest as the market continues to evolve with projects such as the new Las Vegas Raiders NFL stadium and the $1 billion expansion of the Las Vegas Convention Center.
He wants to bring to life the concept of ‘comfort design’ and deliver chic hospitality experiences. They are increasingly exploring new ways to connect with their customers, from millennials, to young executives and families, every city they explore. The newest hotel in Las Vegas will attract completely different audience segment.
OYO, founded in 2013, has turned into world’s third-largest chain of hotels, with a value over $10 billion. It has attracted investors such as Sequoia Capital, Lightspeed Ventures, Airbnb and SoftBank Group.
A start-up led by Ritesh Agarwal, OYO has found a third home in US after China, spreading in 50 US cities including Dallas, Miami, Atlanta and Houston. With a fast pace expansion on a global level, stay tuned to GutshotMagazine.com to remain updated about its third home marketplace and other casino news from across the globe.
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