OYO Rooms aims to have 450 hotels under the brand by 2015 end.

Budget hotels chain OYO Rooms looks to increase the number of hotels under its brand to 450 by the end of next year, from 65 hotels at present, as part of its expansion plans.

'We plan to have 450 hotels under our brand by the end of 2015 as part of our expansion strategy,' OYO Rooms Founder and CEO Ritesh Agarwal told PTI.

The company currently has 65 hotels with 1,200 rooms under its brand, he added.

When asked how the company plans to raise funds for expansion, Agarwal said: 'We have recently raised around USD 6 million from a venture capital company. Earlier also we had raised funds from Light Speed Venture Partners.'

Moreover, the investments of the company will be mainly in marketing the brand, he added.

ET