afaqs! news bureauPublished: 1 Aug 2019, 10:54 AM
Industry News

Workflo, Innov8 and Powerstation join the OYO family

Clients like Swiggy, Paytm, Nykaa, OLX, Pepsi, Lenskart, amongst others, herald start of a new work culture with OYO Workspaces.

OYO, India’s leading global hotel chain and with leased, franchised and managed hotels, homes and spaces today officially announced its multi-brand approach to the workspaces opportunity in India. Led by Rohit Kapoor, CEO, New Real Estate Businesses, OYO Workspaces is a fully controlled workspaces solutions provider, designed to meet the needs of over 80% of the working population in the country. Confirming the addition of Innov8, one of the leading co working companies in India, offering ergonomically designed workspaces created for a better work life, OYO Workspaces is also introduced its multi-brand approach with two other coworking brands - Powerstation and Workflo. Powerstation offers beautiful and functional workspaces for small and medium scale business at the right prices and Workflo is budget-friendly, functional co-working solution catering to the aspirations of a rising India.

At the time of launch, OYO Workspaces is all set to open the doors to its 21+ workspaces, with 15,000+ seats across 10+ cities in India. Of these, Innov8 is currently spread across 6 cities of Delhi, Noida, Gurgaon Bengaluru, Chandigarh and Mumbai, with 16 centres hosting over 6000 employees of brands like Swiggy, Paytm, Pepsi, Nykaa, OLX, Lenskart, amongst others. Powerstation has one centre in Gurgaon with over a 1000 seats and Workflo has set up 4 centres across NCR, Hyderabad and Bangalore with a hosting capacity of over 1500 seats already.

Starting at introductory price points that are as affordable as INR 7999 & INR 6999 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 playfield 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.

Workflo, Innov8 and Powerstation join the OYO family
From L to R- Dr. Ritesh Malik, Founder, Innov8 and Rohit Kapoor, Chief Executive Officer, New Real Estate Businesses, Rohit Kapoor, OYO at the launch of OYO Workspaces

Over the last five years, OYO has built and demonstrated deep capabilities in upgrading various forms of real estate and rapidly transforming them into efficient and beautiful spaces. Using technology to maintain quality, service delivery and consistency, OYO successfully operates thousands of living spaces. Coworking spaces being a $20 bn business opportunity in India by 2020*, presents an incredible avenue for OYO to leverage these capabilities and create a dominant brand in this industry.

Commenting on this, ​Rohit Kapoor, Chief Executive Officer, New Real Estate Businesses, Rohit Kapoor, OYO, 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 coworking spaces to more and more businesses and professionals across the country.’’

Talking about the company’s play in the coworking space, ​he ​added, ​“Armed with insights and technology, we are bullish on growth in the coworking space. Close on the heels of our Innov8 acquisition, the launch of Powerstation and Workflo as differentiated offerings are both a testament of our industry-first multi-brand approach as well as our commitment to expand access to quality workspaces for everyone, everywhere. Given our experience in the hospitality industry and investment in core competencies that have helped us scale so fast in the hospitality, housing rental and banquet services business, we believe we are uniquely placed to leverage to create a strong offering for the corporates looking for space as a service. I am particularly thrilled to welcome Innov8 team into the OYO family. It is a partnership which has incredible potential .”

Dr. Ritesh Malik, Founder, Innov8, commented, ​“We are delighted to join forces with OYO in its mission of creating quality and beautiful spaces. Innov8 was started with a similar mission to upgrade and transform all forms of real estate while ensuring we focus on the overall experience. I am delighted to share that we’ve successfully achieved that in the past few years, and now aspire to expand to other cities in India and later to global markets. This alliance will work toward simplifying and strengthening the co-working experience for Indians while tapping the enormous opportunities this space offers.''

(We received this information in a press release.)