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OYO Hotels & Homes
Travel tech firm OYO on Thursday said it has witnessed a 167 per cent rise in bookings made through its platform for the three-day long weekend starting with Good Friday as compared to last year. There was a 57 per cent increase in booking demand for beach destinations and 43 per cent for hill stations, according to the company. As per the booking trends, spiritual and pilgrimage destinations are witnessing high demand, indicating a shift towards prioritising spiritual experiences over luxury among Indian travellers. Varanasi emerged as the top choice among pilgrimage destinations, followed by Puri, Shirdi, Amritsar, and Haridwar. Alongside these cities, Tirupati, Mathura, Vrindavan, Guruvayur, and Madurai also saw a significant surge in booking demand for the upcoming long weekend, OYO stated. The region-wise breakdown showed that South India received maximum bookings followed by East, North and West regions. Business destinations such as Delhi, Mumbai, Hyderabad, and Kolkata als
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments. This route also provides flexibility to change primary issue size by 50 per cent till the Updated Draft Red Herring Prospectus (UDRHP) stage. Explaining the rationale for filing through the pre-filing route, a source said, "The market continues to be highly volatile globally and to an extent in India as well. Filing through the pre-filing route will give OYO some leeway on the timing of the listing, as well as on fine-tuning the issue size, basis the market conditions, to between USD 4
Hospitality tech platform OYO on Thursday said it has rolled out an accelerator programme, which will provide financial assistance, mentorship and guidance to selected small first-generation hoteliers. Hotel owners with more than five running hotels are eligible to be a part of the accelerator programme. Over 200 properties are expected to be onboarded under this programme in key business cities, such as Bengaluru, Hyderabad and Chennai in south India, Delhi, Gurugram and Noida in north India; Kolkata and Siliguri in east India and Mumbai in west India, OYO stated. During the pilot phase of this programme, which started two weeks ago, OYO has onboarded two hoteliers in Hyderabad, and one each in Kolkata and Delhi, who are operating more than 50 properties located across these three cities. "OYO's accelerator programme will provide financial assistance, access to a pan-India network of over 15,000 corporate accounts and more than 10,000 travel agents, mentorship & guidance, ...
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Travel tech firm OYO witnessed a record 4.5 lakh-plus bookings on New Year's eve, its highest bookings per hotel per day for India in the last 5 years, Founder and Group CEO Ritesh Agarwal said. In a series of tweets, Agarwal spoke about the "busiest day of the year" for the travel technology company and shared that OYO saw higher bookings in Varanasi as compared to Goa. "Over 450k-plus bookings were made on this New Year's Eve globally. This is 35 per cent more than last year. We are also seeing the highest bookings per hotel per day for India in the last 5 years," Agarwal informed. The year 2022 saw a major uptick in travel and tourism. Globally, leisure destinations have led the travel recovery curve, while in India, business and cultural travel have significantly contributed to the sector. "Bookings from Goa are rising by the hour. But guess the city that is overtaking Goa? Varanasi," Agarwal said in a tweet. He also shared information from OYO's annual travel trends index ...