OYO plans to incorporate new 750 hotels within the next three months across 35 leisure markets including Goa, Jaipur, Rishikesh and Shimla. Majority of the additions would be in OYO’s premium brands like Palette, Townhouse, Townhouse Oak, and Collection O. The number of foreign tourists who arrived in India this year during January-June was 106% more than the figure for the corresponding period in 2022 and this is expected to grow further in the upcoming festive and winter season from October to January. The company aims to tap into this boom and emphasizes providing quality accommodations and creating job opportunities in local communities. OYO has also introduced a stay now pay later (SNPL) option, offering customers a credit limit of 5000 for settlement after 15 days from the stay.
OYO, a leading hospitality technology firm, has unveiled plans to expand its platform by adding 750 hotels within the next three months, strategically targeting over 35 leisure markets to leverage the upcoming festive and winter tourism season. The majority of these new hotels will be added under OYO's premium brands, including Palette, Townhouse, Townhouse Oak, and Collection O. Key markets identified for this expansion encompass popular destinations like Goa, Jaipur, Mussoorie, Rishikesh, Katra, Puri, Shimla, Nainital, Udaipur, and Mount Abu.
OYO's Chief Merchant Officer, Anuj Tejpal, noted the encouraging rebound in foreign travel to India after the Covid pandemic. Citing a recent government report, OYO pointed out a remarkable 106% increase in the number of foreign tourists arriving in India during the first half of the year (January-June), compared to the same period in 2022. This uptick in international visitors sets a positive tone as OYO gears up for one of the most significant tourism seasons, typically spanning from October to January.
This period is crucial for the tourism and hospitality industry, and OYO's expansion aligns with the heightened demand - from both domestic and international tourists- expected during these months.
Emphasizing their commitment to providing quality accommodations and memorable experiences, Tejpal highlighted that the infusion of these new hotels aims not only to boost tourism but also to create employment opportunities within local communities. This aligns with OYO's broader mission and vision for enhancing the overall hospitality sector.
OYO has also introduced a Stay Now Pay Later (SNPL) option. This initiative allows travellers to plan their journeys with greater ease, offering customers a credit limit of Rs 5,000 which can be settled after a 15-day period following the stay. This innovative approach aims to make travel planning more accessible, convenient and financially flexible. The adaptation of its services to the evolving needs of travellers aligns with OYO's customer-centric ethos.
In summary, OYO's strategic move to incorporate 750 hotels, particularly in key leisure markets, underscores its commitment to enhancing travel experiences, boosting tourism and aiding the growth of the Indian hospitality sector. The company's focus on premium brands, coupled with the introduction of the SNPL option, positions OYO to cater to the growing demand during the upcoming peak travel season.
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