The global leader in hospital technology has announced its huge growth in the Company Serviced Hotel Category. Within just 1 year of launch, Oyo:-
- Added 700 hotels crossing the initial target of 200 hotels &
- Witnessed a 250% annual growth in this category.
Thus resulting in positive feedback from customers and consistent financial returns by hotel owners.
Countering Mismanagement & Inefficiency
Been criticized long enough for its operations and management, till now hotel intermediary was grilled for any inefficiency or management issues created by hotels. Thus resulting in a bad mouth for Oyo.
To change this notion Oyo launched its Company Serviced Hotels, thus focusing on quality and consistency of services. Oyo directly manages these hotels, thus shifting from its traditional franchise model in India.
“These hotels have driven substantial improvements in key metrics, including occupancy rates and customer satisfaction,” said Varun Jain, chief operating officer of Oyo India. “With 95% of guest reviews expressing satisfaction, we see a growing preference for our seamless booking processes, modern amenities, and attentive staff.”
The positive customer feedback could directly impact Oyo IPO as well as the current Oyo share price.
Oyo’s Business Expansion Strategy
Oyo reveals that its data-driven expansion strategy has been useful in growing its company-serviced hotels. The company identified high-demand cities like Hyderabad and Chennai, thus optimizing resources accordingly.
Although these hotels are spread across India in 124 cities, the south region contributes to the highest growth, adding 200 properties in this region.
It’s is also expanding to pilgrimage sites like Haridwar and Varanasi with high footfall and leisure destinations like Kochi, Jaipur, etc. Thus catering to diverse traveler needs.
Oyo Parent Oravel Launches Premium Hotels in UK, Middle East.
Oravel Stays Limited, who is the parent of Oyo has launched its premium hotel brand SUNDAY in the UK & Middle region. This is part of expanding the premium property portfolio globally.
- Oravel will operate & manage Sunday Lansbury Heritage, a boutique luxury stay near London’s business district Canary Wharf.
- In Dubai, Oravel launched 200 key Sunday Holiday International Hotels at Burj Dubai.
- In India, it has launched 3 properties so far, the first Sunday launched in Jaipur last year.
- Oravel has also announced its plans to expand in Malaysia.
Read More: OYO Launches First Luxury Hotel in Dubai – Record Indian Tourist to Visit
Oyo Coming Up in B2B Corporate Segment
Last month Oyo launched Oravel Travel Solutions, a B2B platform for catering to the boom in the corporate travel market which is projected to double by 2030 to $21 billion (sourced from Deloitte Report on Corporate Travel Sector).
“The corporate travel market is undergoing rapid transformation. Our new vertical will cater to both large enterprises and small and medium businesses, ensuring a hassle-free experience from check-ins to conference setups,” said Ritesh Agarwal.
Thus Oyo is one of the most actively trading shares in the unlisted share market.
Oyo’s Future
The growth line of OYO is rising each year and is driving many people to invest in it. The OYO share price is currently trading at ₹55.
Also Read: Oyo’s In-Depth Financial Analysis of FY 24 Statements.
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