UK: Global travel technology company OYO has added 40 UK hotels to its platform and doubled its revenue in 2022 compared to 2021.
The new OYO properties are located in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead and Boston. Overall, the company now has over 150 small hotels in over 65 cities across the UK.
Puneet Yadav, country head at OYO UK, said: “We have been witnessing high interest from existing hotel owners in our portfolio who want to operate more hotels with us, as well as a lot of hotels in highly competitive cities such as London. Our revenue uplift track record, low hassle while joining OYO and highly tech-enabled operations and customer care support have been the key drivers of this interest.”
Gautam Swaroop, CEO at OYO International, added: “OYO’s UK operations have made full recovery since Covid and we have seen handsome growth both in revenue and RevPar. OYO’s AI and machine learning-driven dynamic pricing engine continuously optimises prices for each hotel to improve tariffs while increasing occupancy, which results in higher RevPars for our partner hotels.
“For instance, in the last four years, OYO’s pricing engine, has done over 11 million price modifications in the UK market. In addition, top-of-the-line revenue management solution, strategic partnership with bed banks like HotelBeds and introductions of data-driven demand intelligence via PredictHQ, have been instrumental as we help small hotel businesses realise their full potential.”
Swaroop continued: “Our average issue resolution time is under three hours. We have invested in technology to improve our customer satisfaction. Nearly 75 per cent of queries are resolved directly by Yo!Chat – our award winning chatbot and by our fully self-serve IVR [interactive voice response] menu.”
Recently, OYO released its annual global travel trends index which revealed that London, Plymouth, Middlesbrough, Leicester, and Brighton were the UK’s most popular holiday destinations of 2022 . Cities of Plymouth, Brighton, Hanwell, and Newquay saw the highest year-on-year growth in 2022 versus 2021, and OYO’s business travellers went to cities of London, Manchester and Leicester for work-related travel.
