Small hotels show doubling of revenue on signing up with OYO

 

 

●        Over 3700 hotels joined OYO via its new self-sign up programme ‘OYO 360’ within 6 months of its launch

●        Hotels start getting new bookings through OYO by signing up within 30 minutes on OYO 360

●        Hotels that join OYO get instant visibility to the company’s 100mn+ customers through the OYO app.

●        OYO also lists hotels on multiple Online Travel Agents (OTA) immediately after signup

●        An Artificial IntelligenceI-based pricing engine optimises tariffs to ensure higher revenues

●        Some properties that signed up on 360 in September saw approximately 80% average online demand versus only 10-20% before joining OYO

 

 April 2022: Travel is making a strong comeback. However, many traditional hotel businesses continue to rely on walk-ins and travel agents to recover demand, especially across India’s Tier II and III cities. To increase the visibility and customer base of such hotels,, global travel technology company OYO recently launched OYO 360 - a self-onboarding tool for hotel and home-owners. OYO launched this programme to bring the power of modern technologies such as AI, machine learning and data science to the small and medium hotel business ecosystem, so that they have the necessary tools to maximise their earnings and benefit from the bounceback in travel. Since its launch, 3700+ hotels and homes have joined the OYO platform via OYO 360 and a majority of them have doubled their revenue compared to their pre-OYO days.

 

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 best-in-class Artificial Intelligence-enabled pricing software automatically drives the best booking prices across all channels, based on room type, seasonality and other factors, therefore, enabling such doubling of revenues.

 

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. Owing to these factors, a majority of OYO’s customers keep coming back to the platform, and over 80% of new customers discover local hotels through the OYO platform itself.

 

As the Indian hospitality industry gears for the rebound in tourism, many small hotel and home businesses have joined OYO and have started using its easy-to-use mobile app - ‘Co-OYO’ which allows them to monitor their bookings and booking patterns, 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.

 

OYO 360 is the fastest way to join OYO and take the property live across channels within 30 minutes. To sign up on 360, hotel owners can visit the website ‘patron.oyorooms.com/in’ and click the ‘Join OYO’ button. Once the hotelier fills in his basic details, the automatic KYC verification takes less than 5 minutes. Patrons can join the OYO platform with a simple two-click process on OYO 360. The company has introduced a host of updates since the launch of OYO 360, including easier KYC flow which means small hotel and home-owners can easily sign up with a government ID. Other key features such as auto-verification of ID and simplified bank account verification reduce the need for manual inputs.

 

 

Once signed up on OYO 360, hotel owners can log in to the Co-OYO app using their phone number and OTP to complete the KYC process:

●        Submit their government ID, verified by Digilocker

●        Submit their PAN card, verified as per the name on the government ID

●        Bank account, verified by PAN

 

Additionally, some of these properties that signed up on 360 saw upto 80% average online ng booking demand. For instance, the first 1000 OYO patrons who signed up via OYO 360 saw 95% online bookings which in turn supported their revenue lift.

 

If as an entrepreneur you wish to start a technology-first hospitality business, maximise revenues and ensure enhanced guest booking and stay experience, click on this for more details - https://patron.oyorooms.com/in