Oyo Turns to Danamica for Artificial Intelligence Firepower for Vacation Rentals
Oyo is more than just a budget hotel operator these days. Investments into its vacation home rental business are proof of that.
Oyo Hotels & Homes recent purchase of revenue management company Danamica may have raised some eyebrows across the hospitality industry earlier this month. After all, the hotel chain hasn't shied away from touting its dynamic pricing strategy as a focal point of its success story so far.
Oyo Hotels & Homes recent purchase of revenue management company Danamica may have raised some eyebrows across the hospitality industry earlier this month. After all, the hotel chain hasn't shied away from touting its dynamic pricing strategy as a focal point of its success story so far.
But the deal was made with Oyo's European vacation rental business in mind, according to Maninder Gulati, the company's chief strategy officer. Oyo was months into customizing algorithms for each country in the region, finishing at least four, before deciding to acquire the Danish company for an undisclosed fee.
Danamica, founded in 2016, has collected six years of home rental pricing data across Europe, according to Oyo. The chain, which is making its mark in the budget hotel sector, now intends to leverage Danamica's artificial intelligence technology and business intelligence to improve revenue management for its entire home rental division.