OYO is beefing up technology platform and is now looking to build a partner network of hotel owners, much like the big technology giants like Microsoft, HP, Amazon, who have a network of distributors, vendors and retail partners.
The move seems to be targeted at extending the company’s reach and brand to a wider and deeper audience on the hotel owner side. OYO, which hasn’t yet celebrated its 5th anniversary, has been growing fast and taking on big hotel chains like Hyatt, Choice hotels among others. Now, in a bid to grow to the world’s largest hotel chain (it currently ranks sixth), OYO has turned its focus to hotel owner or asset partners, promising them several new services.
OYO which already has an app for travellers for bookings, had a parallel app for hotel owners to manage the same and also their business transactions. OYO has now upgraded the app (called Co-OYO) to offer hotel owners financing help through its network of Indian banks, marketing support to boost their reach, help in compliance with regulations through access to top law and accounting firms and timely payments by assuring an interest of 18% on delayed payments. The hotel chain has also included technological solutions like OYO OS, a property management system.
