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Friday, 22 December 2023, 17:00 HKT/SGT

Source: OYO Hotels & Homes Pvt Ltd
OYO launches self-funded 15% discount to protect hotel revenue
- OYO to fund upto 15% additional discount for guests to protect hotel partner revenue and margins
- The scheme also ensures that the pricing remains attractive for the guests
- During the pilot phase of the launch, partner hotels have recorded 20% growth in revenue
- OYO currently has more than 700 hotels across 50+ cities in Malaysia

KUALA LUMPUR, Dec 22, 2023 - (ACN/NewsVoir) - Global hospitality technology company OYO has announced upto additional 15% discount for guests booking through its platform. This is an exclusive self-funded scheme introduced by OYO in Malaysia which has been designed to protect revenue and margins while ensuring guests benefit from attractive pricing options.

The scheme has already been rolled out in August this year in select regions such as Kuala Lumpur, Johor Bahru, Kota Kinabalu and Klang in Malaysia. During the pilot phase of the launch, hotels recorded an approximately 20% increase in their monthly revenue.

OYO currently has more than 700 hotels across 50 cities in Malaysia. OYO's extensive presence in Malaysia, with properties across major cities and popular destinations with multiple brands of hotels in such as Capital O in premium category and OYO Rooms in budget category.

These discounts will be extended to guests booking through OYO's platform, providing them with compelling pricing without compromising the revenue margins of the partner hotels.

Recognizing the challenges faced by the hospitality industry, OYO is taking a decisive step to maintain equilibrium between guest satisfaction and partner hotel revenue sustainability. The introduction of this self-funded discount underscores OYO's commitment to its partners, aiming to alleviate financial pressures while maintaining competitive pricing for guests.

Hotels partners also take advantage of OYO's user friendly hotel management system to increase profitability, revenue and efficiency of their hotels. Additionally, OYO also provides OYO Smart Lock-an automated front desk solution which offers seamless guest check-in and check-out safely and securely. 

Akshay Rathod, Country Head, OYO Malaysia emphasized, "Our partners' success is integral to our mission, and we are committed to taking proactive steps to safeguard their revenue and margins. This initiative demonstrates OYO's willingness to invest in the mutual success of its partners, absorbing a portion of the costs to boost partner hotel revenue streams. It also aims to enhance the value proposition for guests while safeguarding the financial health of OYO's extensive network of hotel partners".

Tan Sri Cheah Chan Yau, Owner, OYO Hotel Grand City, Kuantan added "The introduction of these additional discounts has not only safeguarded our revenue but has also significantly contributed to enhancing our occupancy rates. The flexibility and support offered through these additional discounts reflects OYO's dedication to fostering a mutually beneficial partnership and demonstrates a keen understanding of the needs of its partners".

OYO has also intensified its efforts to onboard and equip hotels with the latest technological tools, increase their visibility and in turn improve their revenue. The patron facing app, Co-OYO allows the hotels to run and customise promotional offers to help increase occupancy and support revenue maximization.

New hotels get access to OYO's large customer base through its app and website, boasting 100mn+ downloads globally.

About OYO

OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit www.oyorooms.com/ph/ .

Abhishek Sinha, PR & Corporate Communications
Tel: +91- 9198461616

Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the "Equity Shares") and has filed the Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com , www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm ; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.comwww.nomuraholdings.com/company/group/asia/india/index.html , www.jmfl.com  and www.db.com/India , respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.

Topic: Press release summary
Source: OYO Hotels & Homes Pvt Ltd

Sectors: Retail & eCommerce, Travel & Tourism, Daily News, Regional, Hospitality, Local Biz
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