The company may not take travel as one of its strategic growth businesses. But it might still be adding more travel-related offerings on its platform to explore all potential for monetization of user traffic.
80 percent of hotels in OYO's core markets of India and China are unbranded, giving the group a ready pool of neglected outlets to sign up. While it is a completely different picture in Europe and North America.
The company will be launching a multimillion-dollar marketing campaign with ads running on TV and digital platforms, highlighting its hosts and promoting the benefits of hosting.
OYO is reportedly going to create a separate entity in the US to help it acquire and run four- and five-star hotels, and is likely to own a minority stake in this entity.
Expedia Group will next month become the exclusive distributor of Marriott International wholesale and promotional room rates, availability, and content to bedbanks, and other redistributors.
The idea behind the company is to connect institutional real estate portfolio brokers with homestay and sharing economy-type services, such as Airbnb.
Hong Kong reported a massive decline in hotel demand at 28.8% with average occupancy for August dropping 29.8% to 63.9%; competition increased as hotel supply rose 1.5%.
The proceeds will be used for expanding its property portfolio in core cities, brand building and developing its technology platform.
