Oyo acquires Las Vegas’ Hooters hotel & casino

Leading hospitality and hotel aggregator Oyo Hotels has announced that it has acquired the Hooters Casino Hotel in Las Vegas, in a deal estimated to valued at around US$ 135 million.

The 657 room hotel and 35,000 square feet casino will now be rebranded as Oyo Hotel & Casino, Las Vegas.

Hospitality investment firm Highgate will manage the hotel while Paragon Gaming will continue to manage the casino operations, Oyo said in a statement.

The casino resort’s acquisition, a first by an Indian startup in America’s casino capital, is part of Oyo’s strategy to go for global expansion after becoming India’s largest hotel chain with over 173,000 rooms under its management.

“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,” said Abhinav Sinha, chief operating officer and OYO Hotels and Homes USA.

“With our newest hotel in Las Vegas, we are excited to cater to a completely different audience segment,” said Ritesh Agarwal, founder and chief executive, OYO Hotels and Homes.

Valued at over US$10 billion, Oyo has become one India’s most sought after startup attracting marquee investors such as Sequoia Capital, Lightspeed Ventures, Airbnb and SoftBank Group.