India, Feb. 4 -- Doubling down on its premium hotel portfolio in the UK, hospitality giant OYO has announced its plans to invest £50 Mn (INR 448.36 Cr) in the UK over the next three years.

This investment is expected to create approximately 1,000 direct and indirect jobs, contributing positively to the local economy and hospitality sector.

OYO UK Country Head Puneet Yadav said: "OYO entered the UK market in 2018, leveraging a model that had already proven successful in other global markets. While we continue to cater to the budget segment, we are now focused on expanding through leasehold agreements and management contracts with premium properties. Additionally, we plan to introduce several of our popular European brands to the UK ...