this story originally appeared in on oct 31 2019bengaluru the softbankbacked hospitality chain oyo group is betting big on the coliving segment across the country it plans to set up 100000 beds across major cities by the end of 2019 the firm currently operates 40000 beds under oyo life brand in select cities like delhincr pune and bengaluru the roll out of the coliving will also see oyo life entering the metros with each segment having a maximum of 250 beds depending on the demographics the focus is on reducing cash burn and higher occupancy that will help us to scale operation said rohit kapoor chief executive officer new real estate businesses oyo currently gurgaon and bengaluru contributes 45 of the total inventory he said launched in october 2018 oyo life is currently witnessing about 8590 occupancy matured buildingsand is adding 50008000 beds a month the rental market is pegged at 50 billion and has huge opportunities as there is a supplydemand gap in the longterm rental housing said kapoorthe company recently confirmed its growing presence in the student housing sector through tieups with marquee institutes like iit delhi and plaksha universitys fellowship program in gurugramthe firm that recently acquired coworking venture innov8 plans to expand the business to 50 centres by the end of the current financial year it currently operates 38 centres across 10 cities totally to 25000 seats earlier oyo announced an investment of rs 1400 crore 200 million for the india and south asia business as part of its effort to double its expansion plan across business segmentsin asiapacific region india has become the torchbearer in the coliving space with several players looking to grab a share of the burgeoning opportunity the coliving market in india is expected to offer a business opportunity of rs one trillion by 2023 along with the capacity of 57 million beds from the previous levels of rs 458 billion and 36 million beds in 2018 said jll