OYO disburses Rs 45 crore in June to support hoteliers, over 2000 hotels benefit
OYO Hotels & Homes; a chain of leased and franchised hotels, homes & living spaces; announced that it has already dispensed over Rs 45 crore under its recent Cash in Bank initiative for supporting hotel owner and customer satisfaction.
OYO Hotels & Homes; a chain of leased and franchised hotels, homes & living spaces; announced that it has already dispensed over Rs 45 crore under its recent Cash in Bank initiative for supporting hotel owner and customer satisfaction through quality upgrades and renovations. In a statement, the company said that its initiative is set to benefit over 2000 hotels. Meanwhile, about 1,000 building owners in its chain have been penalised for not adhering to required quality norms for elevated customer experience and over 9,000 have been awarded under its incentive program, it said.
The penalty imposed on building owners is a result of a comprehensive 3C evaluation programme for all the 10,000+ hotels that are part of the company’s growing India and South Asia network. The 3C score of a building is a strong determinant of the building owner’s and OYO’s commitment to meeting standards and thereby delivering good occupancy and positive recommendations, it said.
"With utmost conviction towards delivering high-quality accommodation to our customers, any building which does not maintain the necessary 3C level is churned out of OYO’s system. The company’s focus on ensuring consistent service delivery across its hotels will be relentless in the coming months," the statement said.
Ayush Mathur, Chief Supply Officer, OYO Hotels & Homes said, “We have undertaken a series of measures to enable building owner success and have already invested over thousands of crores in capex, appointed hundreds of GMs to oversee operations and customer experience. The best building owners that work proactively with OYO on improving customer experience enter a 'virtuous cycle' that ensures that growth fuels growth."
The statement said that overall, OYO’s annual retention is as high as 99.5 percent across the chain in India and South Asia. On average, over 75 percent of hotel owners associated with OYO have seen an increase of almost 3X+ in occupancy, a 2.5X jump in revenue per available room and a significant jump in profit.