oyo launches accelerator program
The focus of the program is on increasing the reach of brands such as Townhouse Oak, OYO Townhouse, Collection O and Capital O.
Hospitality tech platform OYO on Thursday said it has launched an accelerator program to provide financial support, mentorship and guidance to select first generation small hoteliers.
Hotel owners running more than five hotels are eligible to be a part of the Accelerator programme.
During the pilot phase of the program that began two weeks ago, OYO has onboarded two hoteliers in Hyderabad and one each in Kolkata and Delhi, operating over 50 properties located in the three cities.
Under this programme, Bangalore, Hyderabad and Chennai in South India, Delhi, Gurugram and Noida in North India; Kolkata and Siliguri in eastern India and Mumbai in western India, Oyo said in a press statement.
“OYO’s accelerator program will provide financial support, access to a pan-India network of over 15,000 corporate accounts and proactive monitoring of over 10,000 travel agents, mentorship and guidance, dedicated relationship managers and hotel-level dynamic pricing,” the company said. “
The focus of the program is on increasing the reach of brands such as Townhouse Oak, OYO Townhouse, Collection O and Capital O.
Anuj Tejpal, Chief Merchant Officer, OYO, said, “We have come across several hoteliers whose growth aspirations and business acumen far exceed the capital and resources available to them. OYO in the past has tried to support their growth in every possible way. However, we felt that we would be able to encourage many more such hoteliers if we pay special attention to this initiative and proceed in a planned and targeted manner to help many more such small entrepreneurs.”
The company said the plan is also aligned with its focus on increasing its premium hotel footprint in India in 2023.
hey you have recently announced It plans to double the number of premium hotels in India by 2023 by adding around 1,800 such hotels.
The move is aimed at taking advantage of the increase in business travel by increasing its footprint in all major business cities.
read all latest business news Here
