YO Hotels & Homes, the fastest-growing hotel chain in India, announced Friday that it has signed a deal with Highgate to create its first key flagship property in Las Vegas, OYO’s first property in this lively city - OYO Hotel & Casino Las Vegas.
Located near the corner of the famed Las Vegas Strip on Tropicana Ave., the formerly known as Hooters Casino Hotel provides 657 rooms across 19 floors and a 35,000 square-foot casino. Additional amenities will include two signature restaurants, four bars, a fitness center, and an outdoor pool. The property will undergo a transformation to be completed this year, which will bring the OYO brand to life in the most recognizable tourist destination in the world. Highgate will assume management of the hotel, and Paragon Gaming will continue to operate the casino.
Oyo and Highgate will spend $20 million in total to renovate the hotel, which will remain open during the transformation, Reuters said.
“I am really excited to announce the commencement of the OYO’s operations in our newest city - Las Vegas. We are excited to be here as we believe Las Vegas is an exciting city in which 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. As we continue to focus on bringing to life our popular concept of ‘comfort design’ and delivering chic hospitality experiences, we are increasingly exploring new ways to connect with our customers, from millennials to young executives and families, in every city we enter. With our newest hotel in Las Vegas, we are furthering our commitment to enable our guests to experience #Livingthegoodlife, and are certain we will become their preferred place to stay and truly enjoy Las Vegas in the coming months,” said Abhinav Sinha, COO, and Partner, OYO Hotels & Homes USA. “We will be undergoing a renovation and will come up with some of the most loved amenities and experiences that are sure to please Las Vegas visitors from around the world. We can’t wait to welcome you to our first hotel in Las Vegas.”
“Earlier in June, we announced our plan to invest $300 million in the U.S. As a new-age hospitality company, we currently offer great living spaces throughout our 112+ OYO Hotels in more than 60 cities and 21 states. With our newest hotel in Las Vegas, we are excited to cater to a completely different audience segment and are certain that this will be the perfect start to OYO’s journey in Las Vegas,” said Ritesh Agarwal, Founder & CEO, OYO Hotels & Homes.
“OYO Hotel & Casino offers a tremendous opportunity for Highgate to partner with a visionary company like OYO in one of the world’s most dynamic hospitality markets,” said Neil Luthra, a Principal of Highgate. “We believe OYO’s philosophy of dynamic hotel experiences, combined with our management expertise, will make for a long and successful partnership.”
“We’ve had great success managing the Hooter’s casino and look forward to continuing on as the Casino Manager and partnering with Highgate to introduce OYO’s hotel brand in Las Vegas,” said Diana Bennett, Paragon Gaming Chairwoman.
Oyo, founded by 25-year-old Agarwal in 2013, started as a budget hotel aggregator in India. It expanded rapidly into markets such as China, Europe and the United States, and now manages over 23,000 properties across the world.
Valued at about $10 billion, it now caters to an increasing number of corporate travelers who frequent its hotels because of affordable rents, cushioning the company from seasonal changes associated with the industry.