Tag Archives: OYO

As per global travel technology company, OYO’s advance booking trends, Goa, Pondicherry, Shimla, Mysore and Tirupati are India’s top 5 popular travel destinations for the Republic Day week. As per the booking trends for Republic Day, Goa witnessed a 75% increase in demand for this 26th January compared to the same day last year. Among metropolitan cities, Hyderabad emerged as the city with the most bookings, followed by Bangalore, Delhi, Kolkata and Chennai. Winter travel is popular across India, starting with the Christmas holiday season. A zone wise breakdown for winter travel in India indicates South India as the most favoured winter travel region followed by West, North, and East. Across South India, Hyderabad, Bangalore, Chennai, Kochi, Visakhapatnam were the most popular destinations. Whereas travellers in West India are set to explore Pune, Mumbai, Jaipur, Goa, and Indore. In the North zone, Delhi tops the chart followed by Noida, Gurgaon, Ghaziabad, and Dehradun. While Pune, Mumbai, Jaipur, Goa, and Indore were the most travelled destinations in East India. Commenting on these interesting holiday travel trends, Shreerang Godbole, Chief Service Officer & SVP – Product, OYO said, “We are very thrilled to witness uptick in travel demand ahead of Republic Day. Even post the holiday seasons, Indians are showing keen interest in travelling every chance they get, especially by combining public holidays with leaves to make it a long weekend. Destinations close to metropolitan cities are preferred over long-haul destinations for such short getaways. To make travel decisions easier and much more convenient for our users, we, at OYO, continue to ensure a great consumer experience on the OYO app. We have introduced several initiatives including app-level features such as ‘Pay …

The travel recovery in India is driven by religious fervour, reveals the latest edition of OYO Cultural Travel 2022 Roundup Report. The report highlights that Varanasi is the top religious destination for bookers across India followed by Tirupati, Puri, Amritsar and Haridwar. Alongside these cities, Shirdi, Rishikesh, Mathura, Mahabaleshwar and Madurai are the other strong spiritual tourism destinations in India, witnessing maximum growth in bookers over the past year. Varanasi is one of the top pilgrim cities for both Hindus and Buddhists which explains its popularity among the religious tourist destinations across India. With rising interest in community experiences across India, a lot of travellers are now looking forward to exploring rich cultural destinations, lesser-known locations, royal palaces and spiritual or wellness destinations. Post the festive holiday season this year, Global hospitality technology platform, OYO reveals interesting insights on spiritual and pilgrimage travel across India. As per OYO’s booking data insights, August, received the maximum demand for pilgrimage destinations. As per OYO’s booking data analyzed between August to October 2022, Varanasi emerged as the top destination with the maximum number of bookings across spiritual destinations in India. Interestingly, the city observed maximum footfall on the 13th of August due to the festive holiday season in India. While Varanasi scored on the maximum bookings and high growth, the maximum increase in bookings have been observed across Shirdi, Tirupati and Puri at 483%, 233% and 117% respectively. Amritsar and Haridwar also witnessed strong growth. Alongside these cities, Mathura, Mahabaleshwar and Madurai are emerging spiritual tourism destinations in India, witnessing maximum growth over the past year. Top 10 spiritual tourism destinations in India Growth in 2022 VS 2021 Varanasi 56% Tirupati 233% Puri …

Federation of Hotel & Restaurant Associations of India (FHRAI) has submitted a representation to the CEO of NITI Aayog – Amitabh Kant – highlighting hospitality industry’s plight with reference to Oyo’s business model. The Association has specifically pointed out that certain recent activities conducted by Oyo to earn goodwill have actually come at the expense of partner hotels.

In the ongoing row over unethical business practices involving MakeMyTrip and Goibibo (Go-MMT) giving the preferential listing to Oyo and putting other budget hotel franchises at disadvantage, a division bench of the Gujarat High Court has directed the Competition Commission of India (CCI) to afford Oyo Rooms an opportunity of hearing. On the said matter, FHRAI is pitching for open and fair competition in the market and intends to put an end to the disruption caused by Oyo.

OYO currently has close to 176,000 rooms in India and another 322,000 rooms in China, according to a latest analysis by Hotelivate. It has grown considerably in China in just 12 months since January 2018, apart from its home market, India, and other new international markets. Additionally, OYO has a presence in Nepal, Indonesia, Malaysia, the UK, the UAE, and more recently, the Philippines. Totally, OYO has over 515,000 rooms across above 17,000 hotels worldwide, with a goal to be the largest and most preferred hotel chain for the budget mid-scale segment by 2023, globally. For the first time, an Indian hospitality company is growing at an indisputable scorching pace. Skeptics from the ‘traditional’ hotel industry have scoffed at the OYO model, pushing it aside with arguments such as, it is simply an aggregator of budget hotels; it has a poor quality of service; or its deliverables are not comparable with the mainstream hotel industry, as stated by the report. OYO started off as an aggregator back in 2013, but in the past five years, it has evolved into a full-scale hospitality company that operates exclusively franchised and leased assets, growing each day through its innovative model.

The Federation of Hotel & Restaurant Associations of India (FHRAI) has reached out to the Ministry of Tourism (MoT) regarding the hotel industry’s ongoing dispute with Goibibo, MakeMyTrip and OYO requesting its urgent intervention for redressal of hoteliers’ grievances. After a month of failed attempts to amicably resolve issues with the Online Travel Aggregators (OTAs), the apex hospitality body has written to KJ Alphons, Union Minister of State (I/C) Tourism, outlining the major issues of concern to the industry because of the OTAs’ unfair and arbitrary business practices. A number of FHRAI’s members are experiencing hardships due to the OTAs’ business ethics which are exploitative, unethical and divisive, leading to predatory pricing and other market distortions. The letter to the Ministry states that the hotel industry in the country is going through a very challenging phase which is threatening the livelihood, business, investments and entrepreneurial initiative and spirits of the hospitality industry, and thereby eroding the viability of the sector. “The hotel industry, especially the budget and mid-market hotel segment is reeling under the adverse business tactics of the OTAs. The OTAs’ malpractices are affecting the hoteliers’ livelihood and business. These hoteliers who are part of the local and city hotel Associations across the country have approached FHRAI seeking consultation and support, and are in solidarity with the Federation. The FHRAI has tried to resolve the issue directly with the OTAs, however instead its CEO has chosen to dismiss FHRAI’s role in the matter. It leaves us with no choice but to ask for the Government to step in and create a norm for the OTAs just as the Commerce Ministry has done for the e-tailers recently,” says Gurbaxish Singh Kohli, …

With over 10 full-inventory – franchised and operated hotels and more than 1100 rooms in 3 emirates – Dubai, Sharjah and Fujairah, OYO Hotels has launched its operations in the United Arab Emirates (UAE). The property is ready to offer the benefits of its full-stack technology-led hospitality model to hoteliers across the country, with room rates starting 150 dirhams. OYO plans to host guests in over 12,000 rooms, 150 Hotels and all 7 emirates across UAE by 2020. According to data from Dubai Corporation of Tourism & Commerce Marketing (Dubai Tourism), overall, Dubai hotel room supply is set to reach 132,000 by the end of 2019. The Dubai Tourism also forecasts the hospitality sector to experience sharp, sustained growth over the coming years, with occupied room nights set to reach 35.5 million annually in 2019, representing a 10.2 per cent compound annual growth rate over the next 24 months. Commenting on the developments, Ritesh Agarwal, Founder and CEO, OYO Hotels, said, “With over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically the UAE, is poised to grow substantially and with our market learnings and expertise, we are ready to tap this opportunity. We’ve been at the forefront of the budget and mid-segment hotels revolution in the markets we operate in, and can bring in our operational expertise and technology edge to the benefit of independent hotel owners. As per a recent report, Dubai alone will host over 20 million visitors and currently records approximately hotel keys per resident at 29.9 per 1,000 people.” Vartika Goel, Country Lead, OYO Hotels, UAE, said, “The country is an attractive market with sizeable internet …

OYO Hotels has announced the acquisition of wedding banquet company Weddingz.in to expand its playfield to real estate sector. Globally, the wedding industry has grown to become a $500 billion market and OYO’s sharp focus on global expansion will support its debut in disrupting these markets. Commenting on the development, Maninder Gulati, Chief Strategy Officer – OYO, said, “What this partnership facilitates is combining OYO’s capabilities of asset management and technology with the scale Weddingz.in offers in India’s fragmented $40bn weddings industry. The company has a healthy scale of managing 1,500-plus wedding events per quarter, with an inventory size of over 40 banquets spread across Mumbai and Delhi.’’ With more than 10 million marriages in India held annually, the segment holds immense potential for innovation, improvement and standardization of processes. “Weddingz.in is India’s largest banquet management company specialising in weddings led by an extremely ambitious founder Sandeep Lodha and his talented team and the value proposition they bring to the table via skills in managing weddings is clearly visible in their dominance and popularity.’’ added Maninder. Sandeep Lodha, Founder, Weddingz.in, commented, ‘’This alliance will work towards simplifying wedding planning for Indians while tapping the enormous opportunities this space offers.”    

Expanding its presence in China in November 2017, OYO has grown its presence in the country by 50,000 exclusive rooms with a strong presence in cities including Hangzhou, Xian, Nanjing, Guangzhou, Chengdu, Shenzhen, Xiamen and Kunming among others. It recently launched its exclusive hotels in Hulunbeier City, Sanya City and Hainan Province. Commenting on the business performance, Ritesh Agarwal, Founder & CEO, OYO said, “We are thrilled with the response OYO Hotels has received in China. It is well-established that there is a great demand for good-quality accommodation among the 400 MM middle income people in the country. July was a milestone month where we added 25,000 rooms to our chain and look forward to achieving a similar feat in the coming months. It’s been a truly exciting journey for us and we believe that the innovation and R&D being offered in China will assist us and the mission globally.” With its unique business model, OYO works in close proximity with its hotel partners while ensuring a quality living experience to guests, promising benefits to both. In India, OYO has a 100,000-exclusive-rooms strong chain with a presence in over 160 cities with Malaysia and Nepal as the other two international destinations where the chain is present.

OYO Hotels has inked MoUs with the State Bank of India and Bank of Baroda for extending its support to budget hotels and creating jobs across levels. Signed under the aegis of the Pradhan Mantri Mudra Yojna, the MoUs will enable financial support for OYO’s existing and potential hotel partners for fuelling transformation and standardisation at their properties. This will also allow OYO to spearhead the creation of thousands of jobs in Tier II and III cities by nurturing micro-entrepreneurs in the hospitality sector. Speaking on the development, Jayant Chauhan, SVP – Fintech, OYO, said, “We are thrilled to join hands with banking powerhouses – the State Bank of India and Bank of Baroda and achieve the mission of job creation in the country by enabling the youth to emerge as micro entrepreneurs and run their own successful businesses. These MoUs will help us in shortening the demand-supply gap of quality accommodation by offering hoteliers a platform to transform their property and enhance the business by creating beautiful living spaces.’’ As a step towards enabling convenient financing for its asset partners through banks and NBFCs, OYO has also established an in-house Fintech division. These loans will help individuals hailing from Tier II and III cities to be self-employed and run their own budget assets with OYO’s diverse brand portfolio.