‘After successfully capturing the budget hotel segment, OYO is set to make a mark on the mid-market category with OYO Townhouse’. We are honoured to receive a thumbs up from RedSeer, whose latest report claims that OYO Townhouse recorded a 90% occupancy in less than 45 days after the property was on-boarded, which is higher than the mid-segment industry average.
The RedSeer report, while highlighting the important aspect of the increase in earnings for our asset owners, mentions that “Given the high operating profit of OYO Townhouse, the incremental earnings of the Townhouse partners are higher in comparison to the incremental earnings of property owners who affiliate with traditional mid-segment hotels. The property witnesses a 3.5X increase in earnings post partnering with OYO Townhouse.”
OYO Townhouse caters to the millennial generation and has emerged as OYO’s fastest-growing categories. Based on the needs of the millennial traveller, OYO Townhouse is transforming the decades-old hotel industry templates. New age systems and services have replaced the older, wasteful conventions of the past. Every single element – from the breakfast menu to the booking process – has been re-engineered for this category to deliver higher quality and better value.
OYO’s biggest differentiator is our full-stack fulfilment-led model that starts with supply acquisition, transformation, hospitality and operations, technology and omnichannel distribution across online and offline channels, leading to over 90% of our demand. This model makes it easier for us to onboard properties and delivers top-notch occupancy, an unbeaten industry standard.
The report further states that after having established itself as a major player in the Indian and Chinese hospitality industry sector, OYO’s rapid growth will continue to soar and OYO Townhouse will ensure that we capture a significant market share of the mid-segment hospitality industry estimated at USD 4 Bn.
The RedSeer report is a strong testament to our relentless commitment to creating quality living spaces across categories while delivering an exceptional experience for our guests and ensuring high yields for asset owners. We are humbled and honoured for this recognition, and will continue to deliver on our promise of creating quality living spaces for everyone, everywhere.