ISSUE NO: 17
budget hotel chain, and the
company as around 6500 hotels in
200+ cities as of October 2016. It
has also launched in Malaysia.
OYO Rooms reaches out to
prospective hotels to partner with
them. Through OYO Room web
pagewww.oyorooms.com/become-anOYO also a hotel owner can reach
out to OYO. Then the OYO team
contacts the hotel and audits the
hotel to understand the changes
needed to standardize the property
as per OYO standards and shares
other details of the partnership
agreement. A traveller can book a
room
online
at
www.oyorooms.com and can
choose to opt for at the hotel or
online payment pay. The site can
also be accessed from mobile
devices as well as desktop or
laptops. OYO Rooms also has
mobile apps - OYO for iOS
platforms and OYO for Android,
that allow users to book and
manage their bookings. OYO also
runs a 24 X 7 support helpline and
booking.
Softbank in February 2016 made
public that budget hotel aggregator
8|Page
SEP-OCT
OYO Rooms, where it's a major
shareholder, acquired its smaller
rival, Zo Rooms backed by Tiger
Global. The deal is structured as an
asset sale, will give founders and
investors of Zo’s Room including
Tiger Global a combined 7% stake
in India's largest budget hotel
aggregator. OYO raised a fresh
round of funding worth Rs 413
crore in July 2016 through a
proposed rights issue of shares to
existing shareholders, according to
documents filed with the Registrar
of Companies. According to the
filing, the post money valuation of
the start-up was pegged at Rs 3129
crore or about $ 460 million.
Travel port, travel commerce
platform headquartered in UK has
signed an agreement with OYO
Rooms whereby 6,000 hotel
properties offered by OYO will be
available to the latter's connected
travel agencies. So far OYO
Rooms
have done
quite
a
phenomenal task in their journey.
OYO Rooms remains as an
example for Indian Start-ups for
their meticulous operation and
successful execution.
- By Vaishali Ramprasad