Oyo business model, Oyo (online room booking service) is very popular in India. The CEO of Oyo rooms is Ritesh Agarwal. Its headquarter is situated in Gurgaon Haryana India. It was founded in the year 2013.
Earlier it was started with the single hotel room service in India, but if we see it now it has to turn out as a very large network in India. Oyo is considered one of the world’s largest hotel network brand.
It is spread throughout India and covers almost 230 cities. Oyo has developed its roots in over 44000 hotels with over 1.2 million rooms. After all, Oyo is an application-based booking facility for rooms, so with Oyo, you can book your room within a few seconds. It is simple and easy to use. You will get a super excellent Oyo room to experience all over India. Oyo gives its customers excellent room service and amenities. So now let’s discuss further with its business model.
Oyo business model Canvas:-
What work does the Oyo do?
How does the Oyo company operate? So in this, a lot of question regarding the business model of Oyo is arising in your mind. So need not to worry after reading the whole article all your doubts and questions will be solved.
How does the Oyo operate?
Oyo operated as a hotel aggregator. In this some of the rooms of hotels are lease and then they are selling under the brand name Oyo.
Nevertheless, Oyo has changed its Canvas of business model from hotel aggregator to the franchise model. In the newer model, Oyo used to partnering with hotels, and take permission from hotels to operate as a franchise and after this sells the room of the hotel to the customer at reasonable and competitive prices.
In the hotel industry, what role does a franchise model plays? What does it mean?
All the hotels which are listed on the website and come under Oyo, Oyo does not own the property of the hotel.
Oyo arranges all the hotels according to their standard services and amenities and then includes the property of the hotel as a part of its “standardized budget hotel chain” under the name of its brand “Oyo” (online room booking service). So this is the procedure that is followed by the franchise model of Oyo.
What characteristic features make the Oyo business model unique and special one from other companies is its standardized room services?
The main aim and focus of the Oyo is the good customer experience but not only on the price and availability of the hotel rooms.
If any hotels want to become the partner of the Oyo then they need to meet certain requirements like pricing, excellent services, quality and valuable staff, safety and security, features of the hotel rooms.
Different customer segments of oyo business model:-
The specialty is served over 180 million people in the year 2019. Its customer segment include:-
All the crazy people who fancy exploring adventurous places comfortably and with a low budget or travel in a small group. These types of people are known as backpack travelers.
All those persons who fancy exploring adventurous places in large groups and demand a spacious and comfortable room. So that they can also arrange their family event, weddings, parties accordingly.
Oyo also offers the facility of commercial places on its hotels so that customers can book spaces for offices and spacious conference rooms for their meeting arrangements.
Also all those travelers who crave to spend a vacation from their completely busy life.
Valuable service is given by oyo business model:-
Various super excellent and standardized services are given by Oyo to enrich the experience of customers.
Guest experience in the hotel:-
Oyo offers various valuable services to its lovely customers. All the services are qualitative and rich.
Others valuable postulation by Oyo:-
Good services and amenities
Offers and discounts on a membership scheme
Nicely developed application
Comfortably and easy to use application for booking
Tour and travel packages
Qualitative room features
Enjoyable entertainment services
Bars and clubs inside the hotels
Speedly find hotels
To maintain its valuable manifesto, Oyo has currently developed separate banners of special and unique services.
So let’s begin with this oyo business model
Throughout India, millions of peoples can catch smart services from the Oyo to their smart needs.
“Smart rooms” have nicely designed beds, specialized washroom, and bathroom, smart TV in which Netflix is installed are offered with 24*7 kitchen services. If you crave to order something to eat. You can order using smart menus by a mobile application.
Oyo studio stays
In India, travelers can book their rooms for jobs, internships, or even for corporate stays. They used to rent rooms for individual occupancy or even for twin sharing.
Oyo B Direct
Oyo B Direct is particularly designed for business stays. It offers various rich services. For your any business stays it is very much useful. You will have a great experience.
In the Oyo homes, it has well and specially designed personal homes for people who come to spend their vacation comfortably. You will feel better here and enjoy it a lot. Your experience is just like your private home.
In the Oyo Flagship, it uses the complete buildings/ apartments for its Oyo Flagship brand. In these apartments, you will feel a homely environment and it offers you whole comfort. And meet all your smart needs and requirements. It has some special and unique features which you will love. These are lovely theme-based rooms, all the walls with amazing quotes, lovely staff, and decorations with vibrant colors.
Oyo Silver key
It is the unique and special facility given by Oyo. In Oyo Silver key you will get a private and spacious room, rich utility services. All standardized services are available to you.
Oyo has also developed its partnership with various banquet halls. So, you can book your wedding venues. It comes with affordable cost and simple booking services.
All the facilities are up-to-date. Need not worry about anything.