Oravel Stays Ltd, the parent company of OYO, a prominent player in the hospitality industry, has revealed its ambitious plans to introduce a series of self-operated premium hotels under the Palette brand. This strategic initiative marks a significant expansion beyond OYO's traditional offerings, focusing on the upscale hospitality segment.

The journey begins with the announcement of launching 13 self-operated hotels under the Palette brand by the year's end, starting with the inaugural establishment in Morbi, Gujarat. This carefully chosen location underscores Oravel Stays' keen understanding of market dynamics, as Morbi emerges as a thriving economic center, particularly renowned for its ceramic industry.

The new Palette hotel in Morbi will feature 48 meticulously designed rooms, catering to the discerning needs of business travelers amidst the region's rapid economic growth. With direct operational control, Oravel Stays aims to ensure an exceptional guest experience, aligning with its commitment to excellence in service delivery.

Aditya Sharma, the Business Head at Oravel Stays, expressed excitement about the venture, highlighting Morbi's significance as a key market for the company's expansion. Sharma emphasized the pivotal role the new establishment would play in offering premium hospitality services and contributing to Morbi's growing economic narrative.

Morbi's status as India's ceramic capital further underscores its strategic importance, with over 800 tile factories accounting for a significant portion of the country's tile production. The district's substantial annual turnover highlights its economic strength and potential for further development.

Additionally, Gujarat's proactive measures, including the upcoming operationalization of a ceramics park, demonstrate the government's commitment to fostering investment and infrastructure growth in the sector. This forward-thinking approach positions Morbi for significant growth, reaffirming Oravel Stays' decision to establish its presence in this vibrant locale.

Oravel Stays' entry into the premium hospitality segment with the Palette brand represents a strategic evolution in its business model, diversifying its portfolio beyond conventional offerings. This move underscores the company's adaptability and innovation, reinforcing its commitment to providing exceptional experiences to guests.

Furthermore, this expansion comes as Oravel Stays prepares for a potential public listing by the end of the year. The recent announcement of consecutive profitable quarters further solidifies its position as a significant player in the hospitality industry, backed by notable investors such as SoftBank, Airbnb, and Lightspeed Venture Partners.

With a focus on expansion and innovation, Oravel Stays continues to reshape the hospitality landscape, promising to set new standards of luxury and excellence with the Palette brand. As the brand embarks on its journey, it aims to leave a lasting impression on the global hospitality sector.