OYO''''s Accelerator Program

As part of this initiative, OYO aims to support over 100 first-generation hoteliers across India, offering financial assistance to aid their expansion into new markets. The company has already provided INR 10 crore in support, with participating hoteliers experiencing an impressive 20% increase in revenue within just three months.

Initially launched in March of this year with the goal of assisting 50 first-generation hoteliers, the Accelerator Program has exceeded expectations by adding more than 300 hotels operated by 30 hoteliers. Delhi NCR has emerged as a significant contributor, accounting for 40% of the added hotels, followed by Hyderabad and Bangalore, which together contributed 40%. The remaining growth stemmed from various other regions across India.

The Accelerator Program specifically targets hotel owners with five or more operational properties, aiming to empower and accelerate their portfolio expansion in response to the surge in travel demand. OYO provides comprehensive support to participants, including mentorship, access to technology, dedicated relationship managers, financial assistance, and access to OYO's vast network of over 15,000 corporate accounts and 10,000 travel agents throughout India, thus bolstering their business prospects and long-term profitability.

The Indian hospitality sector is poised for significant growth in the coming years. CBRE South Asia's report, "Indian Hospitality Sector: On a Comeback Trail," predicts over $2.3 billion in investments in the sector over the next 2-5 years and the addition of approximately 12,000 hotel rooms in 2023 alone.

To meet the rising demand, OYO is focusing on supporting first-generation hoteliers looking to expand their businesses in popular leisure travel destinations such as Shimla, Amritsar, Udaipur, Goa, Mysore, Tirupati, Puri, Gangtok, among others. This expansion aligns with OYO's strategy of increasing the number of premium hotel brands, including Townhouse Oak, OYO Townhouse, Collection O, and Capital O, in 2023.

Anuj Tejpal, Chief Merchant Officer at OYO, expressed satisfaction with the positive response from first-generation hoteliers, stating, "Since the unveiling of our Accelerator Program, we have been actively engaging with our hotel partners to gather their insights, concerns, and suggestions. Their enthusiasm and willingness to embrace the expansion of their hotel portfolio have reinforced our belief that we are on the right path to achieving our goals."

Hoteliers who have participated in the program have shared their positive experiences. Ganesh K, Director of G Silver Hotels in Chennai, praised the Accelerator Program for resolving operational issues quickly and increasing hotel occupancy. Deepak Rana, Owner of DSR Hospitality Service in NOIDA, highlighted the swift growth and revenue optimization opportunities enabled by the program.

OYO has revamped its technology stack to simplify, modernize, and digitize its offerings, allowing hoteliers to enhance visibility and improve revenue. With tools like Co-OYO, hotel partners can design and implement promotional offers to boost occupancy and revenue. The AI-based self-onboarding tool, OYO 360, provides a streamlined platform for enrolling properties with just two clicks, enabling them to be live across all platforms within 30 minutes.

Guests are drawn to OYO's platform for its competitive pricing, quality accommodations, user-friendly app, personalized experiences, and flexibility. As OYO continues to empower first-generation hoteliers through its Accelerator Program, it aims to meet the evolving needs of travelers while fostering the growth and success of its partner hotels.