Delivering on our commitment to support our hotel owners to succeed and achieve high levels of customer satisfaction, we have already disbursed more than 45 crores as part of the recently launched Cash in Bank initiative. Through this initiative, we offer our hotel owners an easy-to-avail, hassle-free and collateral-free trade advances within 48 hours to renovate their properties. CIB, which is part of our year-long commitment OPEN, helps them to create a never-seen-before ‘Chic, Pop, Energetic’ look and feel that will further help them improve the guest experience and generate more repeat customers. We also awarded 9,000+ of our properties under our incentive program for delivering OYO’s trusted, high-quality guest experience while about 1,000 properties were penalized for not complying to the required quality norms.
We evaluate our properties—10,000+ hotel owners who are a part of our growing hospitality chain in India & South Asia— regularly on a comprehensive 3C program. The 3C score is a strong determinant to show that we and our hotel owners are committed to meet quality standards and deliver great occupancy and positive recommendations. In the coming months, we will continue to engage with our hotel owners and intensify our focus on ensuring consistent service delivery across the chain.
Throughout the chain in India & South Asia, our annual retention is as high as 99.5%. On an average, over 75% of hotel owners who are part of our chain have seen an increase of almost 3X+ in occupancy, a 2.5X jump in RevPar and a significant jump in profit. When a hotel joins us, the average occupancy significantly improves from 25% to 75% within the first 3 months of the partnership. In order to keep our focus on delivering a consistent quality of service and provide an excellent guest experience in South Asia and the world, we do take certain tough decisions like churning out assets that do not adhere to our quality standards from time to time.
More than 90% of business at our hotels in India is generated by the repeat, direct or word of mouth customers. This is possible because of the continued joint commitment between us and our hotel owners to ensure the high-quality service levels and benchmark guest experience and focus on delivering the best quality of experience. As the biggest hotel chain in the country, the focus on customer experience and investments on Capex and service will be at the heart of our enduring promise to our 20 million+ customers in South Asia.