News Release
OYO Rolls Out Contactless Anytime Check-In and Virtual Front Desk for its US Hotels
OYO
Global hospitality technology company OYO has announced the launch of a virtual front desk solution for its partner hotels in the US. Powered by GPT-4, the solution will eliminate waiting time for its customers offering anytime check in, help and guide international travellers who do not speak the local language and will also lead to faster response and resolution. The initiative is in line with OYO' s continuous efforts towards increasing operational efficiency of hotel partners by empowering them with latest technological tools. The self check-in technology is integrated with smart lock systems, allowing guests to enjoy keyless entry and exit without the need for physical key cards. Round-the-clock virtual front desk powered by ChatGPT4 will reduce front desk operations expenses by ~60%, saving an average OYO hotel ~$30,000 annually. The virtual front desk will support 80+ languages and will promptly assists guests in their preferred language, addressing queries and concerns in real-time. Additionally, the system automates payment collection, streamlining the entire process for a hassle-free experience. ChatGPT4 also analyses guest preferences to provide tailored recommendations for activities, dining, and local attractions. Talking about self-check in, Gautam Swaroop, CEO- OYO International said, “Guest facing tech such as the Contactless Self Check-in solution is not only important for enabling a seamless experience for guests, but also helps drive bookings and provides revenue-enhancing solutions for our hotel owners. The virtual front desk serves as a powerful tool that provides guests personalized hotel recommendations, exclusive offers, and seamless navigation. This also contributes to boosting bookings on OYO's own platforms, creating an additional revenue stream for hotel owners.” Nikhil Heda, Head of Business Development – OYO USA added, “There has been an increasing shift in consumer behaviour where they prefer digital-first interactions, convenience and personalization. This has steered the hospitality industry towards the adoption of guest-facing technology. At OYO, we have made a conscious effort to advance our tech stack to keep up with new customer demands and advanced technologies.” OYO offers hotels access to a large base of regular customers through its app and website, and lists hotels on multiple Online Travel Agents (OTAs) to boost booking demand and revenue. OYO’s best-in-class Artificial Intelligence-enabled pricing software automatically drives the best booking prices across all channels, based on room type, seasonality and other factors, therefore, enabling such an increase in online revenues. OYO has started offering hotels the flexibility of not having to invest heavily in redoing the hotel to join the OYO platform, something that other budget hotel chains insist on. Therefore, the initial investment to join OYO is minimal. It has been focusing instead on standardizing service led components such as customer support and booking experience. Nikhel Chand, the owner of OYO Woodland Hotel and Suites, who implemented the solution at his property said, "We implemented this solution to improve customer experience, help reduce costs, automate repetitive tasks and improve revenue. Our previous front desk setup had some gaps, both from a guest experience and operational perspective, including challenges with late-night check-ins and issues with keycard loss by customers. The biggest value this solution has brought to our property is the ability to manage hotel operations remotely from anywhere." The company helps ensure great experience for customers, with ease of search and a quick booking experience, highly competitive room prices as per market demand patterns, automated tools such as Artificial Intelligence powered chatbots to quickly resolve customer queries, loyalty programs and easy refund, if needed. OYO recently announced that it has partnered with Stripe to ease the payment experience for its customers and hotel owners in the US. The integration will provide hotel owners with a flexible and seamless solution for in-person payments with Stripe Terminal at their hotels. OYO hotels in the US will also be enabled with real-time payouts through Instant Payouts with Stripe, which will improve their cash flow. Earlier this year OYO said that it is planning to add over 100 hotels in the US. The company will focus on adding more hotels in the states of Oregon, Washington, Texas, Oklahoma, Georgia and Florida. Texas continues to be the largest and fastest growing market for OYO in the US, while it also has a sizable concentration of hotels in Oregon, South and North Carolina, Florida & Georgia. The company also achieved a 48% growth in revenue from bookings on its own platform, such as the app, website, mobile web and call centers in Q4 2022 vs same period in 2021. OYO’s app saw the highest growth with a 99% surge in revenue from bookings in Q4 2022 vs same period in 2021. The company had earlier disclosed that its app is the second most downloaded travel app with over 100 million downloads globally. OYO has presence in over 35 countries globally. It owns a vacations home business in Europe called OVH (OYO Vacation Homes) which operates legacy brands such as DanCenter and Belvilla. About OYO: OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 168,711 hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit here Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States. Contact Details Anupriya +91 97911 63065 anupriya.d@oyorooms.com Company Website https://www.oyorooms.com/
October 11, 2023 10:00 AM Eastern Daylight Time
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