Room occupancies numbers in hotels have been the higher side in 2017. In fact, the industry is witnessing an 8-year-high this year, with average occupancy rate touching 65 per cent for the first time since 2008. In a media outreach, OYO, home-grown budget hotel aggregator, has shared that it has been clocking occupancy rates of 75 percent. Interestingly, it is also only hospitality company to be listed by LinkedIn India as one of the top 10 companies to attract best talent.
Giving an insight in to the modus operandi of the company and how a carefully-crafted strategy and planning had led to this growth, Ritesh Agarwal, Founder-CEO, OYO said “OYO’s pioneering business model and approach changed how hotels were managed and booked in India. When we started out, our in-room amenities and experience were first standardized on multiple measures in one property in Gurgaon which we operated for a year, this was then scaled across the breadth and width of our network.”
Adding that, today, OYO was the country’s largest provider of affordable hotel stays, he said, “we launched our first hotel in Kathmandu last month and will on-board 100 properties there by the end of this year.”
The online aggregator has currently 70,000 rooms in 200 cities under its kitty. While it has had equally substantial presence in metro cities, OYO’s steady expansion of footprint in tier-2 and tier-3 cities has helped the company in attracting large numbers of aspirational and first-time travellers, reflecting in its high occupancy numbers.