India’s largest hotel chain operator, OYO has recently announced its expansion into the U.S., through the acquisition of Hooters Casino Hotel in Las Vegas for $135 million.
The casino hotel will be rebranded as the OYO Hotel & Casino Las Vegas, with the rebranding expected to occur at the end of the year.
Highgate, a U.S. hospitality investment firm that partnered with OYO on the purchase, will take over the hotel’s management, while Nevada-based Paragon Gaming will continue operating the 35,000-square-foot casino.
“We are excited to cater to a completely different audience segment and are certain that this will be the perfect start to OYO’s journey in Las Vegas,” said OYO founder and CEO Ritesh Agarwal said in a statement.
The acquisition represents OYO’s first hotel in Las Vegas.
Starting six years ago, the company said it wants to be the world’s largest hotel chain by 2023.
It has also announced expansions in Japan, Europe and other parts of the United States.