Oyo Press Release

OYO launches 7 company serviced hotels, targets 35 new properties in 2024

Seeking partnership with realtor for new hotel development
  • OYO has launched 7 company serviced hotels in Mumbai as part of its plans to launch 35 in 2024
  • OYO will offer its best managed hotel’s operators with option to operate additional hotels
  • OYO actively seeking partnership with real estate developers to identify properties for these hotels
  • OYO will take ~35 hotels on management contract this year and invite its most professional hotel operators to run these properties
  • These hotels will be tagged as ‘Company Serviced’ on company’s App and Website to signal OYO’s active involvement in their operation and superior quality

Global hospitality technology company OYO has announced that it will launch 35 company serviced hotels in Mumbai this year. During the pilot phase of the program, OYO has already launched seven hotels in this category that Townhouse Vista Suites PBG Mall Vashi; Super Townhouse Blue Diamond Vashi; Townhouse Ace Marol Near Mumbai, International Airport, Super OYO Kailash Park Near Shivaji International Airport; Super Collection O in Kalyan West; Collection O Milona, Airoli and Palette Irayos Lifestyle Retreat in Palghar.

OYO is also looking for partnership with real estate developers to identify and develop new hotel properties across various regions. These hotels will be operated by OYO’s most professional hotel operators, which will give them an opportunity to grow and expand their business. 

These hotels will be listed on OYO’s app and website as ‘Company Serviced’ hotels to signal OYO’s active involvement in their operation.

OYO plans to accelerate the expansion by combining OYO’s innovative technology and hospitality solutions with the real estate sector’s insights and local knowledge. The program will allow its top hotel partners to earn additional revenue without taking the risk of leasing or the overhead costs of starting a new hotel.  These operators will get dedicated relationship managers and access to OYO’s network of over 15,000 corporate accounts and more than 10,000 travel agents.

Most of these hotels will be onboarded under the company’s premium hotel offerings such as Townhouse, Townhouse Oak and Collection O.

In the process, OYO is also providing property or hotel owners an opportunity to give out their property to a large organization at a fixed rental, revenue sharing or management contract basis and be assured of safe upkeep of their property. 

The company will closely monitor the hotel’s upkeep and customer reviews to evaluate and reward the top operators.

The initiative aims at establishing a collaborative ecosystem where OYO, hotel operators and property owners will work together to run guest focused, well run hotels in line with the company’s aim of fostering economic growth in communities through partnerships.

The program underscores OYO’s commitment to providing a comprehensive range of choices to customers. Whether it’s a business trip, family vacation, or solo adventure, guests will have more stay options in top rated properties that complement their travel styles, budgets and preferences.

Speaking on the development, Varun Jain, Chief Operating Officer, OYO saidOur new serviced hotels in Mumbai are designed to cater to the diverse needs of business and leisure travelers alike. With a focus on comfort, convenience, and personalized service, these properties offer a blend of modern amenities and exceptional value.

Commenting on the opportunity, Bunty Sayal of Hotel Blue Diamond, Vashi said “”OYO has made managing my hotel operations incredibly convenient, allowing me to oversee everything without being physically present throughout the day. I receive regular updates and assured returns, all without the worry of property upkeep. Their efficient management and reliable service have truly been beneficial for me.”

OYO Rooms has simplified, modernized and digitalized its tech stack to help patrons increase their visibility and in turn improve their revenue. Its revamped technology products, like Co-OYO, allow patrons to design and run their own promotional offers to increase occupancy. The AI based self-onboarding tool OYO 360 provides a simple two-click platform to enroll patrons on its platform. With a simple review, in a single click the property will be live in just 30 minutes across all platforms.  


About OYO

OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit www.oyorooms.com.

Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”).

The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.


For More Informations – Please contact

PR24x7 || Breakfastnews@pr24x7.com || 7803893363