Announced 3 key initiatives – OPEN (OYO Partner Engagement Network) a year-long initiative with 6 core partner promises, an upgraded version of our Co-OYO app and a microsite
For a long time, there existed a huge disconnect between demand and supply of quality living spaces which led travelers and city-dwellers to compromise on location, quality, and price. OYO with a mission to create quality living spaces revolutionized the fragmented and legacy-driven budget hospitality space by empowering small and independent asset owners. Over five years later, we are South Asia’s largest and world’s fastest-growing hospitality chain and it would not have been possible without our asset owner partners who played an important role in our success. And today we are announcing the launch of a year-long commitment with OPEN – OYO Partner Engagement Network to support our 8700+ asset owners journeys with OYO across India. OPEN has been introduced with 6 core partner promises, an upgraded Co-OYO app, and a dedicated microsite to foster a deeper engagement with the asset owner community. These initiatives will help improve our partner franchisee experience at every step and support our 8700+ asset owner partners in 259+ cities in India to reach their business goals.
Here are our 6 core partner promises:
- Transparent payment protocols: Any undisputed, delayed payments will receive interest and resolution for exceptions will be done before the due date. This is an industry first swift payment reconciliation promise.
- Financial Support: We have partnered with banks and financial institutions to ease access to easier financing options and capital loans for our asset owners.
- Multiple touch points to connect: OYO has launched a Central response number (+91-9310777888) through which our asset owners can directly share their queries and expect an expeditious resolution. This is another channel in addition to the easy access to the on-ground teams to address all queries.
- Marketing excellence: OYO shall provide asset owners prominence and assistance in leveraging all marketing channels.
- Tech Innovation: OYO’s technology capabilities are geared towards helping asset owners stay ahead of the curve with leading technology solutions such as OYO OS, property management system and other technology-led interventions.
- Regulatory Compliance Assistance: OYO will also help asset owners navigate regulatory and compliance challenges that might impact business continuity.
CO-OYO app is the go-to place for our partner franchisees to keep themselves updated on payment-related information. We have upgraded the app to ensure our asset owner partners have complete visibility of cash flows, business performance, pricing, customer reviews, and recommendations. The key benefits of the upgraded app include:
- Advanced analytics which will help our asset owners to check their asset performance over time.
- An easy to navigate user interface which will help asset owners make decisions regarding value-added services (VAS).
- Insights, access to VAS and the easily understood metrics and graphs that will help asset owners to daily monitor and improve the performance.
A dedicated microsite for OPEN will allow users to both avail support programs for growth as well as engage with the OYO ecosystem and strengthen community building. The Microsite features
- Success stories of our asset owners.
- Posts on get-togethers, new signings, anniversaries, etc.
- Information on helpline numbers, access to financing options and other services.
- A virtual academy with on-the-go learning program of multiple videos that can guide and assist asset owners on things as basic as how to improve infrastructure, customer ratings, brand presence at the property, etc.
In 15 cities in India, there are more than 200 asset owners. To strengthen the trust among our asset owners and support them to grow, and provide quality living spaces and experiences, we announced an investment commitment of INR 1400 Crores for the current fiscal in India and South Asia last month. This commitment is part of many initiatives which we will roll out as we go along in the coming months towards strengthening our commitment to guests and asset owners.