Retail

OYO launches OPEN programme for asset owners


NEW DELHI: OYO Hotels & Homes announced on Thursday said it is launching a new programme for its over 8700 asset owners called OYO Partner Engagement Network (OPEN) which will be a year long initiative for its partners in India to reach their business goals. The company said the programme will include 6 core partner promises that the company is making to its asset partners, besides an upgraded Co-OYO app for asset owners to monitor progress and a dedicated microsite for ‘stronger interaction and engagement’.

Aditya Ghosh, CEO, India & South Asia said, “With over 8700 asset owner partners spread across nearly 260 cities in India & South Asia, our asset owners are a rich source of advice and suggestions which help us get better everyday. Today with the launch of OPEN- OYO Partner Engagement Network, we are laying the foundations of a structured way of exchanging ideas, providing support and most importantly, building a relationship of trust on which we hope to build the next several decades to come. We are doing this in several ways but in this fast moving world, being in touch on a real-time basis is key and therefore for the very first time in the hospitality industry, we are proud to launch the Co-OYO app which will transparently provide business metrics.”

OYO said its core promises to its partners include ‘transparent payment protocols’ under which asset owners will receive 18% interest on delayed payments and resolution for exceptions will be done before the due date. OYO said it will enable access to easier financing options for partners looking to make improvements through banks and other financial institutions with whom it has forged partnerships.

OYO said it has also launched a Central Response hotline (+91-9310777888) through which asset owners can directly share their queries and expect resolutions. The company said it will also help asset owners navigate regulatory and compliance requirements for business continuity and will provide access to a pan-India list of local legal and accounting firms that specialise in industry requirements.

The company said it has introduced an upgraded Co-OYO app, specially designed for partner franchisees to keep them updated on payment related information in one place. It said through the Co-OYO app, asset owners in India can have complete visibility on cash flows, business performance, pricing, customer reviews and recommendations.

Hosted on the Co-OYO app, the microsite will allow asset owners to both avail support programs for growth as well as access featured posts on get-togethers, new signings, anniversaries, information on helpline numbers, access to financing options and other services.

OYO said currently, more than 15 cities in India have more than 200 OYO asset owners and that over 640 of its asset owners were able to clock over Rs 1 crore in gross booking value with OYO in 2018.





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