OYO Announces The Launch Of Its Partner Prosperity Campaign
Campaign Kicks Off With Updates to Proprietary Smart Pricing Tool, Giving Partners Greater Flexibility and Control OYO will enable successful revenue growth for its 300+ partners in the US through its technology products for small, independent hotels
- Each new technology will directly address feedback from OYO partners
- The first launch, OYO Smart Pricing V2, incorporates feedback fromOYO partners regarding OYO's pricing engine, giving them more control of their room rates by providing direct inputs into the algorithm
- OYO continues to witness healthy recovery as RevPar reaches 130% (in Q4 2020) of pre-COVID levels
Dallas/San Francisco - OYO, the leading technology and revenue growth brand for owners and operators of hotels and homes, today announced its Partner Prosperity campaign in the US. With a focus on directly addressing its asset partners' feedback and requests, OYO will launch technology based tools and features each month through July 2021.
Each new technology-based tool and feature is unique to OYO and designed to deliver higher occupancy and revenue for its partners starting with a significant update to the Smart Pricing tool, which launched in 2020 to allow partners some modifications to room rates. Smart Pricing V2, which will be available to all OYO partners by March 1, is designed with updates that solve for OYO partner's top request: more flexibility and control. The Smart Pricing V2 updates enable partners to adjust their room rates +/- 40% of OYO's algorithm recommended rates (previously +/- 20%) for up to 90 days (previously 30) without automatic daily reset.
"The US is an important market for OYO and we are proud of the growth we have achieved since we launched in 2019," said Kasra Moshkani, Head of OYO US. "This initiative is designed to meet the needs of our existing partners and further bolster their success. Our dynamic pricing engine is powered by benchmark industry data, analytics, and proprietary algorithms designed to deliver higher revenue and occupancy at every OYO hotel in the US."
"The indelible impact of COVID-19 drove us to focus on our core strengths—technology, data science, and operational excellence—and we are excited to leverage our learnings to improve our partner offering," said Moshkani. "Our success as a company is directly related to the satisfaction and engagement of our partners. We take the feedback of our partners seriously and the Partner Prosperity campaign is just one example of our commitment to their long-term success. We also believe our continuously updated technology and proprietary tools will attract new partners to the OYO family."
Each monthly release will follow a theme based on direct feedback from OYO's partners. The new tools, features, and updates released each month represent OYO's commitment to its partners and to the US hospitality industry. These themes include:
- February - Flexibility & Control
- March - Transparency & Togetherness
- April - Listening & Learning
- May - Partnership & Empowerment
- June - Revenue & Benchmarking
- July - OYO Pride & Rewards
The impact of the pandemic on the hospitality industry is undeniable. OYO recognized the slowdown as an opportunity for improvement and went back to basics, focusing on core strengths: its proprietary pricing engine and distribution channels, its unique hotel operating system (OYO OS), partner tools (CO OYO), data science, and operational excellence. As a direct result of these efforts, the company's RevPar reached over 130% of pre-COVID levels in Q4 2020 as it solidified its standing as the preferred choice of accommodation for front-line travelers getting the economy moving again.
About OYO Hotels & Homes
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases earnings and eases 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 hotel and home storefronts across India, Europe and Southeast Asia and 35+ countries.