OYO Hotels & Homes, South Asia’s biggest, one of China’s top five, and the world’s fastest-growing chain of leased and franchised hotels, homes and spaces, has set a new benchmark.
It is transforming and renovating assets in a record time of up to 14 days – a stark contrast to the industry standard of 35 days to 90 days. The biggest differentiating attribute of the company is the full-scale fulfilment-led model that it builds, with a world benchmark scale and efficiency that starts with supply acquisition, renovation, hospitality and operations, as well as technology and omnichannel distribution across online and offline channels.
With a 1,200 OYOpreneur-strong team of civil engineers and designers in India, China, and other international markets, OYO Hotels has powered the transformation of over 9,000 assets across territories while promoting sustainable infrastructure in the sector in 2018.
OYO Hotels utilises an artificial intelligence (AI)-led design approach while evaluating guest feedback and identifying their most-preferred design. This is further supported by its in-house design labs – OYOXDesign and Townhouse Design Team.
The company’s full-scale, capability-led model allows it to undertake a 360-degree transformation and renovation while upgrading the existing structure of an asset – from flooring, plumbing, air conditioning, painting, electrical fixtures to utility upgrades.
As an intersection of real estate, hospitality, and technology, OYO has 20+ technological products that power various business verticals and has helped the company build capabilities that make it possible to add over 64,000 rooms every month under its portfolio. Technology-driven renovation and superior supply chain capabilities allow the company to reduce costs and time.
To make this seamless, OYO has introduced a transformation application (app) that enables the company to make sure it leverages on a tremendous technology capabilities to renovate the properties.
The app helps OYO teams to understand the transformation requirements of a property while giving cost estimates and budget in addition to assigning tasks and tracking the pace at which the process is taking place. It also enables the overall visibility of the TR process to all the respective stakeholders.
In Malaysia, over 150 hotels have been transformed from regular hotels to OYO Hotels to date. Partnering with OYO significantly improves the quality of the standalone hotel where hotels are able to benefit from the management services they offer as well as maintain a certain level of service quality.
Moving forward, there are over 30 properties in the pipeline which will soon be onboard to OYO Hotels.
Sharing further details on the approach, Maninder Gulati, Chief Strategy Officer at OYO Hotels and Homes, said, “OYO Hotels has introduced innovative processes and technology to the global hospitality landscape. We have heavily invested in the upgrade of assets that are a part of our chain and made these structures efficient to fulfill the accommodation needs of our guests resulting in higher yields for asset owners.
“As a full-scale hospitality and accommodations company, we have built capabilities, including onboarding strategic properties within a record span of three to 14 days and renovating and upgrading them by leveraging our design and engineering talent. This pace has also fuelled our global expansion across China, Indonesia, and Malaysia among other markets allowing us to add over 64,000 rooms to our chain every month.
“We will continue to work towards sustaining this growth and steering closer to our mission of becoming the largest and most-preferred chain of hotels by 2023.’’
OYO Hotels has built and demonstrated deep capabilities in partnering with various formats of real estate and rapidly transforming them. The process of identifying and selecting hotels is a fundamental phase and is established around strict criteria of quality and suitability.
The objective of OYO is helping hotels to achieve a good level of occupancy that would result in better financial returns on all of their investments. With a diverse portfolio that spreads across villas dating back to the 1920s under OYO Home to studio apartments as a part of OYO Life, the company has redefined archaic processes while introducing agility to real estate.