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.