New Delhi (CNN Business) India's biggest hotel chain is targeting global domination.

OYO, which launched just five years ago as a platform to book budget hotels in India, says it's adding rooms faster than the world's top three hotel chains combined.

"By 2023 we want to be the largest and most preferred hotel chain in the world," an OYO spokesperson told CNN.

Headquartered in Gurgaon, a tech city on the outskirts of Delhi, the company now owns or franchises hotels in global cities including London, Beijing, Shanghai and Kuala Lumpur.

It operates nearly 9,000 hotels with 170,000 rooms across India. Including its international business, it offers 460,000 rooms in eight countries.

OYO currently has almost half a million hotel rooms worldwide.