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Friday, 19 April, 2019, 13 : 30 PM [IST]

OYO launches ‘OPEN’ to bridge gap between the brand and its asset owners

Launches Co-OYO app for asset owners to keep them engaged with the OYO eco-system
In order to reduce the increasing acrimony between the brand and its asset owners, OYO, India’s largest budget hotel chain has launched a year-long programme named ‘OPEN’ (OYO Partner Engagement Network). Designed to build a structure of mutual trust among over 8,700 asset owner partners and thereby reach the true potential of being part of a network, the initiative has six core promises to the owners. These include transparent payment protocols, financial support, multiple touch points to connect, technical innovation for asset owners, marketing excellence, and regulatory compliance assistance.

OYO also has launched a new application, Co-OYO, to keep the owners engaged with the OYO eco-system on real-time. Co-OYO app helps franchisees to stay updated on payment related information in one place. They can have complete visibility on cash flows, business performance, pricing, customer reviews and recommendations. 
 
Announcing these new programmes aimed at enhancing the engagement between the brand and the franchisees, Aditya Ghosh, CEO, India & South Asia, OYO said that the company will also set up an Advisory Council with members from the franchisee side in it to improve the synergies. He said that less than 1% of the asset owners leave the system and 99% are sticking together and growing with OYO and many of them also take the relationship to multiple properties and destinations. “We are trying to create a structured platform built on the foundation of trust,” he said.

Talking about OYO and its expansion, Ghosh said that OYO has been adding an average of 60,000 rooms per month to its inventory and this made OYO become the 6th largest hotel chain in the world in less than 5 years’ time. OYO has started rubbing shoulders with leading hotel brands of the world in terms of inventory size already, he said. The effort, he said, has been to achieve the same cost efficiency that bigger hotel brands achieve.   

When asked about growth plans, Ghosh said that they are in the business of taking  the fragmented real estate assets and making it accessible living space. There are an estimated 4 million such rooms in India alone, out of which only 175,000 rooms have joined OYO. Talking about Corporate Hostel concept, SilverKey, Ghosh said that the brand is poised for major expansion from 450 rooms now to 8,000 rooms by the end of this year. 

 
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