EQS-News: OYO ROOMS: OYO to add over 50 hotels in the UK in 2023, London & Birmingham continue as focus cities

EQS-News: OYO ROOMS / Key word(s): Miscellaneous
OYO ROOMS: OYO to add over 50 hotels in the UK in 2023, London & Birmingham continue as focus cities

09.05.2023 / 11:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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OYO to add over 50 hotels in the UK in 2023, London & Birmingham continue as focus cities

London, 8^th May 2023: Global travel technology company, OYO announced that it will be adding over 50 hotels to its portfolio in the UK in 2023. OYO currently has 150+ small hotels in over 65 cities in its network in the UK. It added new hotels in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead & Boston in 2022.

While London, Birmingham, Torquay, Great Yarmouth and Manchester are the top markets for OYO in UK, it further plans to expand and focus on Leeds, Brighton & Plymouth in 2023. The company currently has 27 hotels in London region on its platform and 38 in the Midlands region.

OYO empowers hotels by boosting demand and in turn increasing revenue via multiple Online Travel Agents (OTAs) & its own website and mobile app. OYO's best-in-class Artificial Intelligence-enabled pricing software automatically drives the best booking prices across all channels, based on room type, seasonality and other factors, therefore, enabling such increase in revenues. In the last 4 years, OYO's pricing engine, has done over 11 million price modifications in the UK market.

With rising costs and staff shortages in the UK, the company has also rolled out a completely automated self-check-in technology solution to lower down labour and utility costs, provide a seamless experience to guests and reduce day to day operational hassles for the hotel owners. It also empowers hotel owners with an AI powered chat solution that takes away a lot of operational headaches away from the owners.

The company also helps ensure great experience for customers, with automated tools such as Artificial Intelligence powered chatbots to quickly resolve customer queries, loyalty programmes and easy refund if needed. OYO's Guest Satisfaction scores are at 85%, a 100% improvement in the last two years and the average issue resolution time is under 3 hours. Nearly 75% of queries are resolved directly by Yo!Chat - OYO's award winning chatbot and self-serve IVR menu.

Talking about the development Gautam Swaroop, CEO- OYO International said, "We have witnessed a great deal of interest from hotels owners across the country owing to our industry-leading demand, revenue generation and management capabilities along with operational ease that OYO offers. Our result-oriented tech stack has been a draw for many entrepreneurs in the UK who are looking to improve and scale their hotel business. With this expansion we plan to enable many small businesses in the region so they can realise their full potential and manage their business with ease."

Talking about the expansion, Puneet Yadav, Head - OYO UK said, "We have seen strong demand in the UK with over 20 patrons adding multiple hotels with us after seeing improved profits. Encouraged by this - we have doubled our business development effort with 30+ hotels in advanced-stage negotiations to join OYO and we hope to bring more hotels on our platform in 2023."

Irfan of OYO Bailbrook Lodge in Bath, added that, "I had started with one hotel, OYO Arinza in 2019 and just after a few months of being part of the OYO platform, we saw an 26% improvement in our revenue's month-on-month. I found the Co-OYO app & OYO OS especially helpful in tracking progress and making day to day operations extremely stress-free. Today we have 4 hotels on the OYO platform and that itself is a testimonial to the great work the team has been doing."

OYO UK recently announced that it has added 40 hotels to its platform in 2022 and doubled its revenue in 2022 vs 2021. OYO's network hotels also saw a 50% jump in revenue per available room (RevPar) vs 2021 and a 110% jump in revenue per available room vs Covid (2020).

OYO has presence in over 35 countries globally. It owns a vacations home business in EU called OVH (OYO Vacation Homes) which operates legacy brands such as DanCenter and Belvilla.

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About OYO: OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 168,711 hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit www.oyorooms.com.

Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the "Equity Shares") and has filed the Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI").
The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.

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09.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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1628011 09.05.2023 CET/CEST