OYO to onboard 600 new hotels & homes in South India by Dec 2022
Global hospitality technology major, OYO plans to significantly increase hotels and homes (storefronts) in South India on its platform. The company will aim to add nearly 35 hotels per week from hereon, encouraged by strong booking trends in the region in both business and leisure travel segments. Currently, OYO operates around 1350 properties in the southern states of Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana, and the Union Territory of Puducherry and aims to increase its storefronts by 500-700 in the region.
Travel is rebounding in the country with continued growth in occupancy rate owing to the increase in demand. Down South, cities like Bengaluru, Hyderabad and Chennai are among the top 10 business markets for OYO in India. Additionally, Kochi, Visakhapatnam and Pondicherry have emerged as prominent leisure markets in the country among others. OYO has witnessed sustained momentum in travel with a jumpstart in business from various industry sectors since January 2022 as Bangalore and Hyderabad top the list of most booked OYO hotels in the country besides Delhi. Further, the company is optimistic of its growth plans as its surveys have shown that the momentum is likely to continue buoyed by a resurgent economy and the upcoming festive season.
OYO offers hotels access to a large base of regular customers through its app and website, and also lists hotels on multiple Online Travel Agents (OTAs) to boost booking demand and, therefore, revenue. OYO’s Artificial Intelligence-enabled pricing software automatically drives the best booking prices across all channels, based on room type, seasonality and other factors, therefore, enabling on an average, doubling of revenues.
*OYO-powered hotel storefronts in India generated 1.5 to 1.9 times more revenue on average in 2019
Once onboarded, storefronts get instant visibility to the company’s 100mn+ customers through the OYO
app. Further, OYO’s easy-to-use mobile app partner app ‘Co-OYO’ allows them to monitor bookings and
booking patterns for their storefront, see their customer feedback and ratings, their earnings and cash flow, understand ways of increasing earnings and modify room tariffs if needed. Another easy to use OYO software, OYO OS helps them with property management and operations.
Domestic travel is a key focus area for OYO and the company currently has a portfolio of multiple brands across categories ranging from mid to premium brands including 4 By OYO, 5 By OYO, OYO Rooms, Townhouse Oak, Townhouse etc across multiple cities in India.
OYO has always aimed to connect with the customers for better understanding. Features such as ‘Pay at Hotel’, Nearby stays, easy cancellation policies, Search by Location are some of the app’s features born from customer feedback and insights. The company also helps ensure great experience for customers, with automated tools such as Artificial Intelligence powered chatbots to quickly resolve customer queries, loyalty programmes and easy refund if needed.
As a part of its brand expansion, OYO has strengthened its signage strategy in South India to enhance customer experience by helping them to navigate to the hotels easily, accentuate brand presence and increase revenues of its patrons. The company has installed 100+ signboards in Bengaluru and Hyderabad and is looking at further increasing the number.
As a customer focussed company, OYO has invested considerably in Revenue Leads who work with respective property managers or GM of hotels. The RLs review hotels and work with them to train staff, improve service and experience. OYO aims to hire 50+ Revenue Leads in South India by December 2022.
Hotels and homes signing up to partner with OYO have the option of joining the platform quickly and efficiently through a self-on-boarding tool and website called OYO 360. It is an AI (Artificial Intelligence) and ML (Machine Learning) based self-onboarding tool for hotel owners.