After the acquisition of Innov8 in January this year, budget hotel accommodation unicorn OYO has started its foray into the co-working industry through “Powerstation”. The company has finally announced the launch of Powerstation.
“Today, we’re launching Powerstation — fully-managed workspaces equipped with all the amenities and services you need to make every moment work. Whether you’re an entrepreneur, a small to medium-sized startup or a big organisation, find your ideal working environment at Powerstation,” says the LinkedIn post on the Powerstation India page.
One can easily guess from the name of the LinkedIn page that OYO has plans to launch Powerstation into other countries as well.
As of now, OYO has inaugurated a 500-seat capacity coworking space in Pioneer Square, Golf Course Extension Road, Sector 62, Gurugram. Packed with hot desks, dedicated desks, private rooms, customized area facilities and bespoke solutions, OYO promises to soon open more spaces in Bengaluru, Mumbai and Hyderabad.
OYO has been quite supersonic with its launch of new products. It launched OYO Kitchen, an in house cloud kitchen solution to serve its guests. It plans to use OYO Kitchen in the Powerstation to serve food to people working from the coworking space.
OYO will now compete with WeWork as well as Indian players like 91springboard, Cowrks and several others.
According to a study by real estate consultancy Jones Lang LaSalle (JLL) and shared workspaces provider WeWork, the coworking industry in India was likely to attract more than $400 Mn in investments by 2018.