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Ritesh Agarwal-led OYO Rooms said it has witnessed a substantial increase in its corporate clientele, adding nearly 2,800 corporate clients between January and July 2023, marking an 11.75% growth year-on-year, as per the company’s recent report titled 'OYO Business Travel Trends Report 2023'.
According to the company's latest report, The company also witnessed a 20% revenue growth from business travel during the same period compared to the previous year.
The growth is driven by customer demand
In the corresponding period last year, OYO had acquired 2,471 corporate clients, reflecting nearly a 12% year-on-year growth.
The report, released on Friday, highlighted that the growth in corporate clients and subsequent revenue increase is predominantly driven by strong demand from various sectors including startups, film production houses, travel management companies, small and medium-scale enterprises, and traditional business houses & conglomerates.
Hyderabad emerges as the top contributor
Hyderabad has emerged as the top city in contributing to this growth, adding 660 corporate clients and also leading in revenue growth. It is closely followed by Gurugram with 593 clients, Delhi with 343 clients, Bengaluru with 315 clients, Mumbai with 282 clients, Kolkata with 268 clients, and Pune with 218 clients. Several other business hubs like Noida, Lucknow, Kochi, Jaipur, Chennai, and Coimbatore have also played a significant role in this upward trajectory.
This growth narrative underscores OYO’s expanding footprint in the business travel segment, reflecting the brand’s growing appeal among a diverse range of corporate entities.
The company’s sustained growth in corporate clientele and the resultant revenue increase are indicative of its robust business model and its ability to cater to the varied needs of the business travel sector.
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