OYO Hotels will located its U.S. headquarters in One McKinney tower.
An India-based hotel firm has picked an Uptown Dallas building for its new U.S. headquarters.
Oyo will be based in the One McKinney tower, where it will occupy 20,472 square feet of space in the McKinney Avenue location.
Oyo has started a $300 million expansion program in the U.S. It plans to invest $40 million of that in Texas.
The hotel chain, founded in 2013 by then-19-year-old Ritesh Agarwal, operates 23,000 hotels and 46,000 vacation homes in Europe, Asia and the Middle East. It raised $1 billion a year ago for international expansion from big-name investors Softbank Group, Sequoia Capital and Lightspeed Venture Partners.
Oyo rebrands existing hotels under its flag and streamlines booking, pricing and technology services. In return, it gets a percentage of the hotel’s monthly revenue. It has partnered with several hotels in Dallas-Fort Worth.
In August, Oyo bought the 657-room Hooters Hotel in Las Vegas with plans to invest $20 million in the property and rename it Oyo Hotel & Casino.
Peery Wood and Chris Sido of CBRE negotiated the Oyo lease with Elliot Prieur and Allison Johnston Frizzo of Gaedeke Group.
Oyo is the third recent lease in One McKinney. California tech firm Bluebeam Inc. recently rented 20,472 square feet of space in the building. Dallas-based Priority Real Estate Technologies leased 3,983 square feet.