Gurugram-based hospitality company OYO Hotels and Homes has announced its foray into student accommodation, through its rental solutions arm OYO LIFE.
The company said that OYO LIFE is tying up with marquee institutes like IIT Delhi and Plaksha University’s Fellowship programme in Gurugram and will be managing over 500 beds for the student community.
Under the agreement, OYO Life will provide affordable accommodations starting from the price of ₹6500 to ₹12,999 per bed, per month. All OYO LIFE buildings will be equipped with essential amenities like Wi-Fi connectivity, television, refrigerator, AC, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking.
“We are excited to partner with IIT Delhi and Plaksha’s Tech Leaders Fellowship to offer our first-of-its-kind, end-to-end fully managed housing experience for the students. We are confident that our growing presence in the student housing segment will enable us to scale 100K beds by 2019-end,” said Rohit Kapoor, CEO, new real estate businesses, OYO.
In the last couple of months, OYO has acquired multiple portfolios such as @Leisure Groups to venture into Holiday homes and Innov8 coworking to expand its offering to coworking spaces. Recently, Oyo had also acquired Hooters Casino Hotels to expand in Las Vegas. The product portfolio includes OYO Homes, OYO Townhouse, OYO Rooms, Silverkey, Pallets, etc.