Embassy to compete with Oyo as it rolls out asset light business model

Targeting the millennial audience, real estate player Embassy Group has rolled out an asset light management business named Olive Residences under its co-living brand Olive by Embassy.

Under Olive Residences, the Bengaluru-based company will be taking up existing residential buildings and hotels in partnership with owners for a performance-based management fee, which puts it in direct competition with Oyo. These buildings will provide both short-term and long-term stay options.

“This is a far more scalable model unlike greenfield built-to-suit models. We will take a maximum of 60 days to churn around a building and have it operational,” said Aditya Virwani,