New Delhi. Oyo Hotels and Homes in the hospitality sector plans to focus on its five major markets: India, Southeast Asia, Northern Europe, China and Europe. The company's CEO (CEO) said on Friday that the company has no intention of expanding to new markets at the moment due to the Kovid-19 crisis. The company's gross margin declined sharply due to the Kovid-19 crisis. Currently, the company's gross margin has reached 85 percent of the pre-Kovid-19 crisis. Oyo founder and group CEO Ritesh Aggarwal was speaking at the FICCI Global Young Entrepreneur Summit.
He said, "The epidemic crisis made our situation clear. We are currently operating in about 80 countries. Three sectors are major markets for us where we are either at the top of the market or are leading the market. India, South East Asia and Northern Europe are such markets. At the same time, we have become a major rival company in China and America. These are the five major markets where the company will focus primarily. "We want to expand in markets where we are already leading or at the top." Whereas in markets like the US and China, we will focus on improving our service and products to increase market share. We are working in a much wider area and do not intend to expand further.