Oyo enters long-term housing rentals space

Mumbai: Hotel aggregator Oyo Rooms Monday announced its entry into the long-term fully managed housing rental segment under Oyo Living label.

With this, Oyo aims to become a leading brand in the long-term housing rental and accommodations business and a provider of housing, the company said in a statement.

At the launch, Oyo Living is offering over 35 properties, with over 2,000 beds in Noida, Gurugram, Bangalore and Pune, targeted at young professionals. It plans to take the number to over 50,000 beds by the end of 2019 when it hopes to be present in all the top 10 metros, according to the statement. Monthly rentals start at Rs 7,999, it added.

Ritesh Agarwal, founder, Oyo Rooms, said, "Oyo Living represents our ongoing commitment to continue innovating and creating world-class stay experiences."