Oyo's Accelerator Programme Adds 1000+ Hotels, Empowers Hoteliers

Oyo, the popular hospitality chain, has revealed its plans to expand its reach by adding more than 1000 hotels under its Accelerator Programme by December 2023.

According to the company's statement, The development will also involve partnering with over 100 first-generation hoteliers in India. 

With the travel industry witnessing a surge in both business and leisure cities, Oyo aims to empower and support these hoteliers in rapidly expanding their hotel portfolios.

To facilitate the expansion into new markets, Oyo is offering financial assistance and has already provided support worth Rs 10 crore.

The company believes that this initiative will not only benefit the hoteliers but also contribute to the overall growth of the travel sector. In fact, participants in the Accelerator Programme have reported an impressive 20% increase in revenue within just three months.

The Accelerator Programme, which was launched earlier this year in March, initially aimed to support 50 first-generation hoteliers. However, Oyo has surpassed its own expectations by already adding over 300 hotels operated by 30 hoteliers.

Delhi NCR has emerged as a major contributor, accounting for 40% of the hotels, followed by Hyderabad and Bengaluru, which together make up another 40% of the hotels added through the programme. The remaining growth has come from various other parts of India.

The eligibility criteria for the Accelerator Programme state that hotel owners with more than five operational hotels are qualified to participate. By joining the programme, these hotel owners gain access to a range of benefits aimed at ensuring long-term profitability and increased earnings.

Oyo provides mentorship, access to cutting-edge technology, dedicated relationship managers, and financial support and connects them to its vast network of over 15,000 corporate accounts and more than 10,000 travel agents across India.

Anuj Tejpal, the chief merchant officer at Oyo, expressed his satisfaction with the response to the Accelerator Programme, stating that the company has actively engaged with its hotel partners to gather valuable insights, concerns, and suggestions.

Tejpal added, "Their enthusiasm and willingness to embrace the expansion of their hotel portfolio have reinforced our belief that we are on the right path to achieving our goals."

Oyo's ambitious plans to add over 1000 hotels through the Accelerator Programme by the end of this year demonstrate its commitment to the growth and development of the hospitality industry in India. With financial assistance, mentorship, and access to an extensive network, the company aims to empower first-generation hoteliers and drive the success of their businesses.

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