THERE'S ALWAYS ROOM FOR IMPROVEMENT

OYO is transitioning from a management model to a revenue-sharing one to incentivise hotel partners to earn better yield on their assets

- VINITA BHATIA

During a town hall meeting with employees and hotel partners in November 2020, OYO’s founder, Ritesh Agarwal, tried to strike an upbeat note. Following the progress with vaccine trials he was confident that the travel and hospitality industries would bounce back strongly.

This sentiment is shared by Harshit Vyas, SVP and COO, Franchise Business for OYO India and South Asia. When he had joined the budget accommodation startup in 2013, he was one of the first five employees focusing on business development for OYO’s foray into Gurgaon. From introducing hotel owners to a new revenue model to equipping them with technology to better manage their operations, Vyas tells Vinita Bhatia how OYO is focused on continuously delivering value to its asset owners.

What major changes have you witnessed in OYO since you joined the company in 2013?

In the initial days, convincing hotel owners to associate with OYO was a Herculean task. Being a completely new, untested business model, they were sceptical about the value and prospects that we offered. Soon, they started seeing repeat customers and greater revenues. They also noticed how hotel operations, revenue management and CRM became more efficient and convenient via OYO apps, which eventually led them to trust us.

Back then, we had just started our journey and were focussed on offering standardised and affordable stay experiences for travellers across price points. Over time, the company underwent tremendous changes. Our presence across India and international territories is now backed by our strong operational capabilities and ability to use technology to improve efficiencies at every touchpoint.

How exactly are you providing value to these hotel owners?