OYO Workspaces debuts with industry-first multi-brand approach

Rohit Kapoor, CEO, New Real Estate Business, OYO taking about his new venture , co working spaces. (Ramesh Pathania/Mint)

OYO, global hotel chain and with leased, franchised and managed hotels, homes and spaces, on Tuesday announced its multi-brand approach to workspaces opportunity in India. OYO Workspaces, led by Rohit Kapoor, is a fully controlled workspaces solutions provider, designed to meet the needs of over 80% of the working population in the country.

The announcements include the addition of Innov8, one of the leading co-working companies in India, offering ergonomically designed workspaces created for a better work life. Kapoor, CEO, New Real Estate Businesses, also introduced a multi-brand approach with two other co-working brands — Powerstation and Workflo.

Powerstation offers functional workspaces for small and medium scale business at the right prices, and Workflo is budget-friendly, functional co-working solution catering to aspirations of a rising India.

OYO Workspaces is all set to open doors to its 21+ workspaces, with 15,000+ seats across 10+ cities in India. Of these, Innov8 is currently spread across six cities — Delhi, Noida, Gurgaon Bengaluru, Chandigarh and Mumbai, with 16 centres hosting over 6,000 employees of brands like Swiggy, Paytm, Pepsi, Nykaa, OLX, Lenskart, among others.

Powerstation has one centre in Gurgaon with over 1,000 seats, while Workflo has set up four centres across NCR, Hyderabad and Bengaluru with a hosting capacity of over 1,500 seats already.

Starting at introductory price points of 7,999 and 6,999 per seat, respectively, OYO Workspaces aims to expand its presence to over 50 centres across India by the end of 2019.

OYO’s entry into the workspaces business is a bold step towards OYO expanding its play field to the workspace led real estate sector and realizing its vision of becoming a global real estate brand while continuing its dominance in the hospitality industry.

Kapoor said, “The workplace as a service space presents an exciting opportunity for OYO to utilize its existing technology and operational expertise. Through a targeted multi-brand strategy, we aim to provide a differentiated experience for co-workers at different price points and help expand access to co-working spaces to more and more businesses and professionals across the country.’’