India-founded hospitality brand OYO has taken over its first hotel in Bath as it continues on its growth trajectory across the UK.
The budget hotel chain has taken over the the four-star Bailbrook Lodge Hotel, with a new 10-year lease deal brokered by Christie + Co.
The hotel will now undertake a transition into the OYO brand.
The new lease will be held by Irfan Chaudhary, an experienced London-based hotelier.
Chaudhary will operate the hotel under the OYO brand as part of a franchise agreement with OYO Hotels & Homes.
The previous lease holders were Patron Hotels LTD.
The reputation of the business, which comprises 15 bedrooms, has been successfully built up by its previous owners.
Jeremy Sanders, head of OYO UK comments: “We are delighted to be working with Bailbrook Lodge and officially launching OYO Hotels in the Bath area. We hope this is just the start as we seek to develop new partnerships and grow business for other independent hotel owners in the region.”
Richard Thomas at Christie & Co, who brokered the deal adds: “The Bailbrook Lodge hotel is a fantastic business in a great setting and credit must go to the outgoing business owner for meticulously developing and maintaining such a great product. OYO plan to invest significantly into the business in order to take it to the next level and I look forward to seeing their success both with Bailbrook Lodge and their wider business as it develops on a national and international scale.”
Earlier this year, OYO announced ambitious plans for rapid expansion in the UK, with a target to invest £40m into the market in 2019.
At the end of May the company had 70 hotels in the UK, with 30 hotels in London.
OYO was founded in 2013 by Ritesh Agarwal and the company now operates in 800 cities, across 24 countries.