Hotel-booking startup to enter Indian assisted-living space

Hotel-booking startup Oyo has plans to enter the assisted-living communities, or retirement homes, for the senior-living sector in India.

“Assisted living for senior citizens could be a natural extension for our business,” CEO of Oyo’s real estate arm, Rohit Kapoor, told the Times of India.

Analysts say retirement homes could be a potentially lucrative space as India’s elderly population is set to touch 300 million, accounting for 18 percent of the overall population by 2050. Global research agency Persistence in a study said the market for elder-care services is estimated to reach $1.9 trillion worldwide by 2026, growing annually at 8.5 percent during the period.

Recently, OYO Hotels & Homes announced plans to invest $300 million over the next few years. The new-age hospitality company currently offers living spaces throughout its 50-plus OYO Hotels in 35 cities and 10 state