• OYO’s Business Accelerator (OBA) function has added more than 1250 new corporates since March 2022
• Small and medium scale enterprises, traditional business houses & conglomerates, startups, travel management companies as well as film production houses leading the corporate bookings and stays.
• Cities such as Bangalore, Hyderabad, Mumbai, Chennai, Ahmedabad, Kolkata, Pune and Delhi leading the booking demand
Since March 2022, OYO has gained over 1250 corporates, indicating that business travel in India is gradually recovering. Small and medium businesses, conventional business houses & conglomerates, startups, travel management organisations, and film production companies, which have recently emerged as an important consumer group for OYO, are leading the recovery.
Bangalore, Hyderabad, Mumbai, Chennai, Ahmedabad, Kolkata, Pune, and Delhi are among the top cities sought and booked by businesses. As more people from this group prefer physical encounters, which is still a critical aspect for them to build their business, small and medium firms continue to contribute considerably to business travel reservations.
Since January 2021, OYO’s Business Accelerator section has served approximately 6600 corporate clients. Customers with corporate tie-ups enjoy curated stay options, excellent personalised customer service, and connectivity with their accounting system, in addition to the ability to book a room via OYO’s app or website.
Domestic corporate travel is one of OYO’s key emphasis areas, however, since the epidemic, sporadic interruptions have resulted in suppressed or irregular booking patterns. Companies have also benefited from OYO’s recent concentration on its mid to premium sector brand categories Townhouse Oak, Townhouse, 5 by OYO, and 4 by OYO.
Commenting on the growth in corporate travel, Ankit Gupta, Chief Executive Officer, OYO, India said, “The appetite for business travel has returned strongly since the frequent change in travel restrictions has ebbed, making travel planning for business trips more certain and predictable. For a lot of our corporate customers, conducting business over virtual meetings was a stop gap and sub-optimal solution. Such customers are leading the business travel revival. Meetings, Incentives, Conferences and Exhibitions are the other key use cases fuelling the growth of business travel”.
Since January 2021, OYO has worked with over 2800 offline travel agencies.
Customers choose OYO’s platform for a variety of reasons, including its unique inventory and storefront availability, the quality of its accommodations, the price of its offerings, the ease of use of its app, personalization, the OYO platform’s trust and safety, and the quality of its customer support through Yo! Chat, is an end-to-end proprietary customer support platform.
OYO is seeing consistent growth in segments other than corporate travel. During the Easter week, the firm reached the 8 lakh bookings mark in India. Since then, reservations have increased for eight weeks in a row. OYO Europe Homes has also seen a faster recovery from the Omicron impact.
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