OYO Hotels & Homes Pvt Ltd Archives

OYO’s profit doubles to INR 30 cr

Oravel Stays Ltd which operates travel tech brand OYO reported that it has doubled its profit after tax (PAT) sequentially in Q3 FY24 to ~INR 30 crore. The company had marked its maiden profitable quarter with a PAT of over ~INR 16 crore in Q2 FY24. OYO’s Founder & CEO, Ritesh Agarwal, during an employee townhall shared the update about this two-fold surge in profit. He said, “In the upcoming quarters, we anticipate a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience (Cx), and favourable market conditions conducive to sustained growth.”

He also shared that the company clocked Adjusted EBITDA of ~INR 750 cr / $90mn in 2023 and expects to clock Adj EBITDA of ~INR 1000 cr / $120 mn in FY24, surpassing its earlier projected Adj EBITDA estimate of INR 800 cr for FY2024.

OYO’s revenue also grew by ~10% Y-o-Y in Q3 FY24. Agarwal also shared that OYO saw a ~27% increase in the number of hotels on its platform to 17K, over the last year. The company optimised its operating cost by 15% in Q3 FY24 vs same period. The company last filed its Annual Accounts for FY2023 and these updates are unaudited.

OYO recently concluded a debt buyback of INR 1620 crores. The back process involved the repurchase of 30% of OYO’s outstanding TLB due June 2026. Sources close to the transaction have indicated that OYO’s decision to retire debt reflects its commitment to reducing financial leverage and underlines the company’s robust financial performance. The company achieved operational profitability in FY2023 with an Adj. EBITDA of ~INR 275 crores, plans to fund future growth and expansion through its earnings.

Global credit rating agencies Fitch & Moody’s have termed OYO’s move to repurchase its outstanding debt as positive. Fitch wrote that this action will improve OYO’s EBITDAleverage and that they may take positive rating action. Moody’s doubled its Adj EBITDA estimate for FY2024 from $50 million (projected in May 2023) to $90- $100 million.

OYO recently announced its expansion plans in major spiritual hotspots across the country, fuelled by a surge in domestic travel and rising interest in spiritual tourism. OYO is gearing up to launch 400 properties in popular destinations like Ayodhya, Puri, Shirdi, Varanasi, Amritsar, Tirupati, Haridwar, Katra-Vaishno Devi, and the Char Dham route by the end of this 2024.

OYO launches self-funded 15% discount to protect hotel revenue

OYO to fund upto 15% additional discount for guests to protect hotel partner revenue and margins
The scheme also ensures that the pricing remains attractive for the guests
During the pilot phase of the launch, partner hotels have recorded 20% growth in revenue
OYO currently has more than 700 hotels across 50+ cities in Malaysia

Global hospitality technology company OYO has announced upto additional 15% discount for guests booking through its platform. This is an exclusive self-funded scheme introduced by OYO in Malaysia which has been designed to protect revenue and margins while ensuring guests benefit from attractive pricing options.

The scheme has already been rolled out in August this year in select regions such as Kuala Lumpur, Johor Bahru, Kota Kinabalu and Klang in Malaysia. During the pilot phase of the launch, hotels recorded an approximately 20% increase in their monthly revenue.

OYO currently has more than 700 hotels across 50 cities in Malaysia. OYO’s extensive presence in Malaysia, with properties across major cities and popular destinations with multiple brands of hotels in such as Capital O in premium category and OYO Rooms in budget category.

These discounts will be extended to guests booking through OYO’s platform, providing them with compelling pricing without compromising the revenue margins of the partner hotels.

Recognizing the challenges faced by the hospitality industry, OYO is taking a decisive step to maintain equilibrium between guest satisfaction and partner hotel revenue sustainability. The introduction of this self-funded discount underscores OYO’s commitment to its partners, aiming to alleviate financial pressures while maintaining competitive pricing for guests.

Hotels partners also take advantage of OYO’s user friendly hotel management system to increase profitability, revenue and efficiency of their hotels. Additionally, OYO also provides OYO Smart Lock-an automated front desk solution which offers seamless guest check-in and check-out safely and securely.

Akshay Rathod, Country Head, OYO Malaysia emphasized, “Our partners’ success is integral to our mission, and we are committed to taking proactive steps to safeguard their revenue and margins. This initiative demonstrates OYO’s willingness to invest in the mutual success of its partners, absorbing a portion of the costs to boost partner hotel revenue streams. It also aims to enhance the value proposition for guests while safeguarding the financial health of OYO’s extensive network of hotel partners”.

Tan Sri Cheah Chan Yau, Owner, OYO Hotel Grand City, Kuantan added “The introduction of these additional discounts has not only safeguarded our revenue but has also significantly contributed to enhancing our occupancy rates. The flexibility and support offered through these additional discounts reflects OYO’s dedication to fostering a mutually beneficial partnership and demonstrates a keen understanding of the needs of its partners”.

OYO has also intensified its efforts to onboard and equip hotels with the latest technological tools, increase their visibility and in turn improve their revenue. The patron facing app, Co-OYO allows the hotels to run and customise promotional offers to help increase occupancy and support revenue maximization.

New hotels get access to OYO’s large customer base through its app and website, boasting 100mn+ downloads globally.

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 approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit www.oyorooms.com/ph/ .

Contact:
Abhishek Sinha, PR & Corporate Communications
Tel: +91- 9198461616

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.

OYO launches virtual front desk for De Rantau properties

Technology supports quick check-ins by removing language barrier

OYO introduces virtual front desk solution to facilitate anytime check-in in De Rantau properties
The solution will ensure faster response eliminating language barrier for overseas tourists
The virtual front desk is integrated with smart lock systems and supports 80+ languages
It will reduce front desk operations expenses by ~60%
Guests will also receive tailored recommendations for activities, dining, and local attractions

Global hospitality technology company OYO has announced the launch of virtual front desk solutions for De Rantau properties in Malaysia. Powered by the capabilities of GPT-4, this solution aims to minimise customer wait times, providing seamless anytime check-in, offering invaluable assistance to international travelers who often struggle with language barriers while booking their stay. OYO is expecting that virtual front desk will significantly expedite response and issue resolution.

The self check-in technology is integrated with smart lock systems, allowing guests to enjoy keyless entry and exit without the need for physical key cards. It is also expected to reduce front desk operations expenses by ~60% annually. The virtual front desk will support 80+ languages and will promptly assist guests in their preferred language, addressing queries and concerns in real-time. Additionally, the system automates payment collection, streamlining the entire process for a hassle-free experience. ChatGPT4 also analyses guest preferences to provide tailored recommendations for activities, dining, and local attractions.

This also contributes to boosting bookings on OYO’s own platforms, creating an additional revenue stream for hotel owners. Hotels will be able to take advantage of OYO’s user friendly hotel management system to increase profitability, revenue and efficiency of their hotels. The technology will also enable property owners to manage hotel operations remotely from anywhere.

DE Rantau program is aimed at establishing Malaysia as the preferred Digital Nomad Hub to boost digital adoption and promote digital professional mobility and tourism across Malaysia. DE Rantau hub is a nomad-ready accommodation that has been verified, validated and certified by Malaysia Digital Economy Corporation based on DE Rantau hubs criteria to cater to the active and dynamic nomad lifestyle.

OYO is planning to add 100 premium category hotels to support DE Rantau program in Malaysia. OYO plans to strengthen its premium hotel footprint across Malaysia as a part of this initiative. It is focusing on key regions such as Langkawi, Penang, Klang Valley, Ipoh and Melaka for this program.

Speaking on the development, Akshay Rathod, Country Head, OYO Malaysia said “De Rantau properties offers travelers a unique and immersive experience in some of the world’s most exciting destinations. However, language barriers have often posed challenges for overseas tourists looking to book and check into their accommodations. With the introduction of the Virtual Front Desk, OYO is taking a significant step toward addressing this issue and making international travel more accessible and enjoyable”.

OYO currently has more than 700 hotels across 50 cities in Malaysia. OYO’s extensive presence in Malaysia, with properties across major cities and popular destinations, will ensure that De Rantau Program participants have access to comfortable accommodations across all locations. Most of these hotels will be equipped with basic facilities such as Wi-Fi connection, availability of café, stores, entertainment and recreational facilities within walking distance and easy access to food and parcel delivery as well as transportation services.

Contact:
Abhishek Sinha, PR & Corporate Communications
Tel: +91-9198461616

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 atwww.bseindia.com andwww.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.htm l, 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.

OYO Reports its first net profit at RM9 million

Oravel Stays Ltd, which operates travel tech brand OYO, has reported its first-ever profit after tax in Q2 2024. In a letter to the company’s top management, founder Ritesh Agarwal shared that Q2 FY2024 has turned out to be company’s maiden profitable quarter, with profit after tax (PAT) of over RM9 million (approx.) Agarwal, during an employee town hall earlier this year, also shared that OYO expects to clock Adjusted EBITDA of nearly RM455 million in FY2024.

OYO has also published its Annual Accounts for FY2023. It has achieved operational profitability in FY2023, clocking an Adjusted EBITDA of RM157 million. In the Annual Report, OYO attributes this achievement to its focus on core markets, centralisation of key functions, cost optimization initiatives, divestment, and rationalisation of non-core businesses.

The company’s revenue from operations in FY23 stood at RM3103 million in FY23. It also narrowed its losses to RM719 million. Adjusted Gross Profit Margin rose to 43% of revenue and Adjusted Gross Profit increased by 23% to RM1333 million in FY23 from RM1088 million in FY22.

The company reduced the number of hotels to 12,938 in FY23 from 18,037 in FY22, citing an increased focus on quality customer service across OYO hotels, globally. It still maintains the largest footprint in terms of hotels in India and SEA, as compared to other full stack short-stay accommodation players (as of June 2023).

The overall Gross Booking Value (GBV) increased by 25% reaching the RM5681 million milestone, of which GBV from the hotels business, stood at RM3506 million, marking y-o-y growth of 35%. GBV per storefront on hotels clocked a record growth of 82% to RM227k in FY23 from RM125k.

The company in its filing said that the OYO app is the 4th most downloaded travel app globally (as of July 2023) and the most downloaded travel app in key Asian markets. Its popular loyalty program OYO Wizard retains its position has the largest loyalty program among leading travel brands with over 13.5 million members, as of June 2023.

He also covered some key priorities of the company. “We have started thinking of shifting our mindset from offering a value-first offering to an experience-first offering for your customers. We have taken some initial steps in this area with initiatives such as ‘Spotless Stays’ and ‘Super OYO’. The program’s pilot across 250+ hotels has seen customer satisfaction score improve by 35%. Today there are over 1000 hotels tagged as Super OYO’s spread across 140 cities in India. We have also increased focus on the expansion of our premium portfolio with the launch of a premium resort brand, Palette, in India. Today, average customer service ratings of OYO hotels in India have gone up to 4 out of 5 in 2023 from 3.5 in 2022.”, he added.

Referring about international markets, he said, “We integrated more technology and innovations into our existing offerings in the Europe Homes business (DanCenter, Belvilla & Traum) such as 24×7 homeowner and customer support, launch of the Belvilla app, flexible booking options and stays, and tech-enabled cleaning services, among others. Progressive innovations like remote locks and contactless check-ins are reshaping the way we deliver hospitality services in the VRMC segment in Europe. We see immense potential in future growth markets like the US & UK.”

Malaysia has also contributed towards the growth. OYO has added more than 100 hotels on its platform in last six months taking the total count to more than 500 OYO hotels across Malaysia. OYO Malaysia has maintained a consistent growth trajectory ever since it turned EBIDTA positive in 2022.

Recently, global ratings agency Moody’s (Moody’s Investors Service) shared that it expects OYO to remain EBITDA positive for FY24. Moody’s in its report said that OYO will generate around $50 -$55 million EBITDA, after shared based payment expenses in fiscal 2024, supported by a strong demand recovery in the hospitality business, increase in the number of storefronts on OYO’s platform, and cost optimisations.

Ratings agency Fitch also upgraded its rating on OYO and said that they expect OYO to deliver positive EBITDA and CFO (Cash Flow from Operating Activities) in FY24, led by a greater reduction in operating costs than expected, ongoing demand recovery in the travel and tourism industry and stable gross margins.

Website: https://www.oyorooms.com/my/

Media contact:
Yashesh Shah
Tel: +9321463615

OYO to add 100 hotels as a digital nomad DE Rantau program partner

OYO plans to add 100 premium hotels to support DE Rantau programme in Malaysia
OYO’s premium hotel brands include Townhouse Oak, Collection O and Capital O
DE Rantau aims to establish Malaysia as the preferred Digital Nomad Hub to boost digital adoption and promote digital professional mobility and tourism across Malaysia.
OYO to focus on key regions including Langkawi, Penang, Klang Valley, Ipoh and Melaka for this program
Hotels have been carefully shortlisted to ensure facilities such as fast Wi-Fi connectivity and proximity to business centres

Global hospitality technology company OYO plans to add 100 premium category hotels to support DE Rantau program in Malaysia. OYO plans to strengthen its premium hotel footprint across Malaysia as a part of this initiative. OYO’s premium hotel brands include Townhouse Oak, Collection O and Capital O.

It will focus on key regions such as Langkawi, Penang, Klang Valley, Ipoh and Melaka for onboarding hotels under this program. These cities have been identified by the government for their potential to attract both business and leisure travelers.

OYO has constituted a team of 50 employees to reach out to potential hotel partners and conduct physical assessment on the readiness of these hotels for DE Rantau program.

DE Rantau program is aimed at establishing Malaysia as the preferred Digital Nomad Hub to boost digital adoption and promote digital professional mobility and tourism across Malaysia. DE Rantau hub is a nomad-ready accommodation that has been verified, validated and certified by Malaysia Digital Economy Corporation based on DE Rantau hubs criteria to cater to the active and dynamic nomad lifestyle.

Hotels will be able to take advantage of OYO’s user friendly hotel management system to increase profitability, revenue and efficiency of their hotels. Additionally, OYO will also provide OYO Smart Lock-an automated front desk solution which offers seamless guest check-in and check-out safely and securely.

As part of this partnership, guests can also take advantage of discounted rates for long and short stays under this scheme. OYO will leverage its advanced technology and seamless booking platform to simplify the accommodation process for guests.

OYO currently has more than 700 hotels across 50 cities in Malaysia. OYO’s extensive presence in Malaysia, with properties across major cities and popular destinations, will ensure that De Rantau Program participants have access to comfortable accommodations across all locations. Most of these hotels will be equipped with basic facilities such as Wi-Fi connection, availability of cafe, stores, entertainment and recreational facilities within walking distance and easy access to food and parcel delivery as well as transportation services.

Speaking on the development, Akshay Rathod, Country Head, OYO Malaysia said “We are delighted to be chosen as the accommodation partner for Malaysia’s DE Rantau Programme. This collaboration aligns perfectly with our mission to provide quality accommodation across Malaysia. Through this partnership, we aim to support the Malaysian government’s vision of boosting tourism potential in the country and help local economy”.

OYO is also planning to organise awareness sessions for all the DE Rantau certified hotel owners and their team to guide and support them. It will also conduct a quarterly audit of OYO hotels onboarded under this program to ensure quality of services.

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 approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit www.oyorooms.com/ph/.

Website: https://www.oyorooms.com/my/

Media contact:
Abhishek Sinha
PR & Corporate Communications
Tel: +91-9198461616
Email: abhishek.sinha3@oyorooms.com

OYO becomes accommodation partner of differently abled Indian cricket team for Malaysia tour

OYO to offer discounted accommodation to the differently abled Indian cricket team touring Malaysia
Accommodation to be arranged in Hotel Signature International at Kuala Lumpur
The team is on a 3-day tour to Malaysia (June 12-14) to play matches with Malaysian team
OYO has also offered accommodation for differently abled players in India during the Sardar Patel Divyang Cricket Tournament

Global hospitality technology company OYO has announced that it will offer discounted accommodation to the differently abled Indian cricket team touring Malaysia from June 12 to 14 2023.

The sponsorship is a part of OYO’s ongoing commitment to supporting inclusivity and promoting equal opportunities for all individuals in sports.

As part of the sponsorship, OYO will take care of the team’s accommodation expenses throughout the duration of the tournament at discounted prices. Their accommodation will be arranged at Hotel Signature International in Kuala Lumpur to ensure that the players can focus on their performance and have a comfortable and stress-free stay during the competition.

The tour is organised by the Divyang Cricket Control Board of India which handles the affairs of Indian Cricket Team for the physically challenged, Indian wheelchair cricket team, Indian women cricket team for the physically challenged and Indian deaf and dumb cricket team.

Speaking on the development, Akshay Rathod, Country Head, OYO Malaysia said “OYO believes in creating an inclusive environment where every athlete, regardless of their unique abilities, can participate in sports with equal opportunities. This is a great opportunity for us to host cricket players from India and give them a memorable experience. With this initiative, we aim to break down barriers and foster an environment where these players can thrive, showcasing their talents and abilities without limitations”.

Ghazal Khan, CEO, Divyang Cricket Control Board of India said “We would like to thank OYO for going above and beyond in arranging accommodation for our players and championing equality. OYO’s unwavering commitment to inclusivity and accessibility is truly inspiring and it has created an environment where everyone can fully participate and excel. It has made a lasting impact on the lives of these athletes, and for that, we are immensely grateful”.

OYO’s partnership with the differently abled cricket team aligns with OYO’s core values of diversity, accessibility and innovation. It recently provided accommodation for disabled players who participated in the Sardar Patel Divyan Cricket Tournament in Lucknow, India.

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 approximately 1.70 lakh hotels 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.

Website: https://www.oyorooms.com/my/

Media contact:
Abhishek Sinha
PR & Corporate Communications
Tel: +91-9198461616
Email: abhishek.sinha3@oyorooms.com

OYO offers up to 70% discount on Hari Raya holiday bookings in Malaysia

Global hospitality technology company OYO is offering a special discount scheme for Hari Raya holidays in Malaysia. Under this scheme, guests will be eligible to avail up to 70% discount on their stay in more than 500 properties spread across 100 cities in Malaysia.

The discount is available on all segments of OYO properties including OYO Rooms, Capital O, Collection O, OYO Townhouse and Townhouse Oak. There will be more than 10,000 rooms available for bookings in these hotels.

There is a special focus on premium hotel brands such as Townhouse Oak and Collection O which meet premium hotel criteria such as design, service quality and high level of safety and health standards. It will encourage guests to stay longer and have a memorable Hari Raya holiday experience.

To avail this discount, guests can download the OYO App, click on the red ‘Nearby’ icon to discover a valid participating hotel, and discounted prices will be activated via coupon code ‘HARIRAYA70’. They can complete the booking after hitting the Book Now button and resolve their queries quickly with OYO’s 24*7 chatbot – Yo! Chat.

OYO is also giving OYO Money, up to MYR 50 to every guest who signs in on OYO App. The amount can be redeemed while checking into OYO properties across Malaysia from April 19 to May 1, 2023.

OYO is focusing on the most popular destinations for Hari Raya holidays such as Kuala Lumpur, Malacca, Cameron Highlands, Ipoh and Kuantan. It is actively engaged with hotel partners to ensure an exceptional guest experience by prioritising the needs and preferences of guests.

Elaborating more on the scheme, Akshay Rathod, Country Head, OYO Malaysia said, “Selamat Hari Raya Aidilfitri. Malaysia is an important market for us and we want to celebrate Hari Raya with a special discount scheme to encourage people to enjoy their holidays. We hope that it will help them enjoy comfortable and affordable stays while celebrating Hari Raya with their loved ones”.

There has been a significant rise in travel during the Hari Raya holiday in Malaysia. According to the Malaysian Association of Hotels, hotels in Kuala Lumpur reported an average occupancy rate of 80% during the Hari Raya Aidilfitri period, with many hotels fully booked. Additionally, data from the Malaysian Aviation Commission revealed that passenger traffic during the Hari Raya period increased by 8.7%, indicating a growing trend of travel during the festive season.

Ramadan 2023: OYO announces a special scheme to reward travelers in Malaysia

Global hospitality technology company OYO has announced a special scheme to encourage and reward travel during the holy month of Ramadan in Malaysia. As part of OYO’s commitment to supporting travel during this important time, it is offering gold bars to those staying in OYO properties from March 10 to April 20, 2023.

The program called “OYO Promo Ramadan” is designed to encourage individuals and families to travel during the month of Ramadan and experience the unique cultural and spiritual aspects of this time.

Travelers who book their stay with OYO Rooms will be automatically entered into a draw to win gold bars. A gold bar each will be given to the top two guests for booking their stay in OYO properties for 10 nights or more during the contest period.

To avail this discount, guests can download the OYO App, click on the red ‘Nearby’ icon to discover a valid participating hotel and complete the booking after applyign coupon code ‘OYORAMADAN’ and hitting the Book Now button. They can also resolve their queries quickly with OYO’s 24*7 chatbot – Yo! Chat.

Speaking on the special Ramadan scheme, Akshay Rathod, Country Head, OYO Malaysia said “Traveling during Ramadan can also offer a unique perspective on daily life as travelers may have the opportunity to experience a more relaxed pace of life. Many areas in Malaysia come alive with special events and festivals. There are often night markets and bazaars, where you can sample traditional foods and experience the local culture. We hope our Ramadan scheme will encourage guests to embark on a journey that is not only spiritually fulfilling but also potentially rewarding”.

There are more than 500 live and exclusive properties across 100 cities across Malaysia covered under this scheme. Major cities included in the scheme include Kuala Lumpur, Johor Bahru, Kota Kinabalu, Miri, Kuantan, Petaling Jaya, Ipoh and Klang.

OYO is also planning to support Malaysia’s ‘Visit Malaysia 2025’ program with such initiatives. With 2023 already looking to be a bumper year for tourism in Malaysia, the government is now planning for long-term growth. Prime Minister Datuk Seri Anwar Ibrahim recently announced that 2025 will be the next official ‘Visit Malaysia Year’. With tourism back in full swing and international attention returning to Malaysia, the next few years leading up to Visit Malaysia 2025 are expected to open new destinations and experiences.

OYO announces up to 70% discount on bookings for school holiday season in Malaysia

OYO announces up to 70% discount on bookings on all its properties across Malaysia during school holidays
Price assurance and revenue assurance plans have been introduced to support hotel partners during the ongoing holiday season
School holidays have been announced from December 10 until end of the month
Hotel bookings are expected to remain strong during school holidays as a lot of people take advantage of this season for their annual vacations

Global hospitality technology platform OYO has announced up to 70% discount on bookings during the school holidays in Malaysia. The discount scheme will be available till the end of this month across all OYO properties in different segments such as Collection O, Capital O, OYO Rooms and Spot On in the country. This year, tourism activities in Malaysia are expected to resume in full fervour after a two-year break, attracting tourists from all over the country to indulge in three-week-long celebrations.

Global hospitality technology platform OYO has announced up to 70% discount on bookings during the school holidays in Malaysia. [Image: oyo]

OYO has a presence across Malaysia with a network of more than 8,000 hotels in 75 cities and towns in primary, secondary and tertiary markets. [Image: oyo]

The scheme is tailor-made to ensure that guests planning to embark on their annual vacations are able to book clean, safe and convenient stays that add more excitement to their holiday spirits. It is also designed to boost government initiatives to promote domestic tourism after two subdued years.

As per the Tourism Malaysia report, the government is planning to refresh and elevate the ‘Cuti-Cuti Malaysia’ brand and image to promote domestic tourism aggressively by leveraging digital platforms. It also aims to increase tourism revenue by increasing domestic tourist arrivals and their average length of stay. In addition to this, there are plans to market and promote ‘One Product One District’ as a main attraction for domestic tourists.

OYO’s discount scheme is also aligned with Malaysia Digital Nomad Program to establish Malaysia as the preferred Digital Nomad Hub and support the local community of digital nomads in the country as a catalyst for tourism recovery.

OYO has a wide presence across a network of more than 8,000 hotels in 75 cities and towns throughout Malaysia including in primary, secondary and tertiary cities and towns.

Guests can avail of this discount by downloading the OYO App, clicking on the red ‘Nearby’ icon to discover a valid participating hotel in the city of their choice, selecting from the coupon codes ‘MYDEDAGANG55’, ‘OYODEDAGANG65’, ‘OYODEDAGANG55’, ‘MYPSALE’ and hitting the Book Now and Pay at Hotel button. Customers can also book through the OYO website www.oyorooms.com and through multiple online booking sites such as Agoda, Booking and Traveloka.

OYO booking data reveals that guests are more likely to look for clean, hygienic and contactless properties. OYO properties that are tagged as Sanitized Stays receive twice as many customers as those without. Most of the hotels are equipped with facilities such as Wi-Fi and air-conditioning to ensure maximum convenience for the guests.

Speaking about the offer, Ankit Tandon, Global CBO and CEO, SEAME said “OYO Malaysia is determined to provide guests with a wide range of accommodations while ensuring flexibility in booking and assurance of sanitization. With this offer, we also want to showcase our strength as a hospitality technology platform with a wide range of accommodation options. School holiday season is also an opportunity for us to help our hotel partners boost their revenue. We have introduced price assurance and revenue assurance programs for them which have received an overwhelming response with some of them even committing a higher volume of business than earlier”.

Customers choose OYO’s platform for many reasons, including accessibility to OYO’s hotels at competitive prices, quality accommodation, ease of use of its app, personalization, and flexibility of the OYO platform. They can also resolve their queries quickly with OYO’s 24*7 chatbot – Yo! Chat.

Website: https://www.oyorooms.com/my/

Media contact:
Abhishek Sinha
PR & Corporate Communications
Email: abhishek.sinha3@oyorooms.com