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OYO sees 2.7 X growth in bookings year-on-year

OYO’s app has gone up to number three rank in the list of travel apps with 77.5 million users

Dec 30, 2019 by The Passage Team
OYO sees 2.7 X growth in bookings year-on-year

OYO blog

OYO Hotels & Homes has recorded a 2.7 X jump in the number of bookings in comparison to 2018, as per Oyo’s Annual Travel Index 2019. The report claimed as many as 5 OYO rooms were booked every second globally in the said term.

“The travel and hospitality industry has witnessed some very interesting shifts in 2019 with changing consumer preferences. We are excited to capture these interesting insights in the second annual edition of OYO Travelopedia. The results indicate the growing popularity of OYO when it comes to trusted and quality accommodations not just in India but globally. It further fuels us OYOPreneurs to keep innovating and leveraging technology to build a world-class hospitality experience,” Gaurav Ajmera, Chief Operating Officer, OYO Hotels & Homes, India said.

OYO’s app has gone up to number three rank in the list of travel apps with 77.5 million users.

However, OYO’s journey was far from smooth in 2019. Federation of Hotel and Restaurant Associations of India (FHRAI) had accused the company of predatory pricing, deep discounting, unpaid dues, high commissions, and non-uniform contracts.

Multiple cases were filed against OYO founder Ritesh Agarwal over breach of agreements. Meanwhile, Agarwal had said dismissed the protest as the conspiracy of industry groups. He said these groups are trying to use the situation to increase property rates.

Uttar Pradesh emerged as the most welcoming state in India basis the number of travellers and bookings received throughout the year followed by Maharashtra, and Karnataka slipped to the third spot from being the winner last year. Delhi retained its top spot as the city which recorded the maximum number of travel cancellations followed by re-bookings. The capital city also topped the popularity chart along with being the most-searched destination. Delhi followed by Hyderabad and Bangalore recorded maximum bookings within the first 10 days of every month in 2019, the Travel Index noted.

SoftBank-backed Oyo forayed into the four-star hotels segment in India in 2019. The world’s third-largest and fastest-growing chain of hotels, homes, and living space, had also bought the Hooters Casino Hotel in Las Vegas. Oyo and Highgate, an American real estate investment and hospitality management company, have committed USD 135 million for developing the asset.

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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