• Company enters a new phase of growth with its supply acquisition technology-driven strategy, enables small hotel and home-owners to join fully digitally and seamlessly with its self-onboarding tool – OYO 360
• OYO 360 is now available in Europe, India and is to be launched in South-East Asia, which have been the core focus markets for the company
• First hundred hotel owners on OYO 360 platform in India have enjoyed good revenue lift  despite the pandemic; hundreds of owners are joining the networking from other markets seeking ease of convenience
• Hotel and home-owners joining the OYO platform enjoy single-point revenue lift, service standardization, ease of operations through Co-OYO and OYO OS (patron facing platforms); also witnesses 80% demand digitally on an average globally vs only 10-20% before joining the platform

New Delhi: Global travel technology company, OYO has today announced the launch of ‘OYO 360 – a self-onboarding tool’ for its prospective patrons, including small hotel, home-owners and the ex-OYO patrons who have been impacted by COVID-19 to boost their revenues and increase profits digitally. As part of its supply acquisition strategy, OYO 360 will play a critical role in the organic growth of the business, including newer self-sign ups and growing the supply infrastructure via technology.

With OYO 360, the company will fast-track onboarding in 30 minutes against a typical 15-days process. This is a significant initiative under the tech and product roadmap for the patrons to boost their success and growth on the one hand and create a mechanism for ease of convenience and transparency. OYO 360 provides a simple two-click platform to enrol patrons on its platform and provide three types of benefits – growth benefits, partnership benefits, and OYO network benefits. Over 70% of hotel and home-owners who join OYO have never sold online. Based on internal data, OYO patrons witness 80% demand digitally on an average globally vs only 10-20% before joining the platform. The initial performance showcases that the first 100 OYO patrons who have joined via OYO 360 are witnessing 95% online bookings which is supporting their revenue lift.

COVID-19 has deeply impacted small hotel businesses significantly. OYO 360 will simplify the patron onboarding process by enhancing the user experience to become fully digital and seamless. Patrons can log in simply with their phone number or using social media accounts to initiate their property onboarding process. This tool would require basic details on the hotel, room number, amenities, and imagery. The tool uses AI capabilities in photo upload to auto check for image quality, reject images with objectionable content and auto categorize images by detecting the elements in the images.

If the property is already listed on any of the OTAs, all this information is auto-filled. With a simple review, in a single click – the property will be live in just 30 minutes across all platforms.

Commenting on the launch, Rohit Kapoor, Chief Executive Officer, OYO INSEA, said, “With technology as a driver and data powering every touchpoint of the journey of our patrons including small hotel and home-owners, OYO is carving a niche in the hospitality world with its diverse tech and product offerings. OYO 360 is a big bet to accelerate supply acquisition and enhance the overall experience by making onboarding simpler and convenient. It aims to provide direct control on pricing, increasing occupancies and visibility on simplified contracts and reconciliation processes. Currently, daily 12 properties are being onboarded via OYO 360 which brings us confidence on the success of this tool. As we sign up more patrons and keep building our network, we are confident that we’ll be able to attract more guests, diversify the customer base and solidify their business performance through OYO’s tech tool-stack.”

Today in India, over 80% of the patrons have opted to be on OYO Secure – a prepaid wallet based system, where hotel and home-owners deposit money in a secure wallet that gets adjusted with the net payment reconciliation system. In addition, Co-OYO/OYO OS – the partner-facing app is a hassle-free property management solution with an integrated cloud-based system for onboarding and staff training, reservation and booking management, Invoice management, housekeeping management, Dashboard and Analytics, Live Support. Currently, in India, OYO is witnessing 70% of Co-OYO adoption, resulting in 4x higher RevPAR by regularly engaging the platform.

OYO 360 is a critical milestone in the company’s effort to provide an automated and seamless experience for a small hotel and home businesses right from onboarding to fulfilling all their technological requirements. If an entrepreneur wishes to start a technology-first hospitality business and join in on giving enhanced guest booking and stay-in experience