Oyo announces Partner Privilege Program for hotel owners
Top performing asset owners can get benefits such as easy financing, growth support and insurance cover
Aditya Ghosh (second from right), Oyo's CEO - India & South Asia, also felicitated Oyo's top performing partners at the eventThe world’s third-largest hotel chain, Oyo, announced the launch of a Partner Privilege Programme for its network of more than 10,000 asset owners in India on Thursday. This is the third initiative under the year-long Oyo Partner Engagement Network (OPEN), which was launched in April. Aditya Ghosh, CEO - India & South Asia, Oyo Hotels & Homes, made the new announcement at a press conference in Mumbai.
Through the programme, top-performing partner hotels can get benefits of three kinds: growth, partnership and Oyo network benefits.
Growth benefits will include business advances through ‘Cash in Bank scheme’, easy financing through banks and NBFCs, and Oyo’s support and guidance. Partnership benefits include insurance cover through Acko without any charges on distributor commission, customised offers by Volkswagen and BMW, and accidental insurance cover for staff up to Rs 2 Lakh through Paytm. Partners can also avail of discounted stays at Oyo hotels across the world and a few other properties through Oyo’s network benefits.
“We are excited to take our relationship with our asset owner community to the next level with the launch of the Partner Privilege Programme for our top performers,” Ghosh said in a press release. “We aim to accelerate business growth and create a mechanism for continual engagement and recognition. This is the third major initiative under OPEN after the launch of six core promises, the Co-Oyo app, and the Cash in Bank facility earlier this year.”
The six core promises announced earlier involve transparent payment protocol, financial support, a central point to connect, marketing guidance, tech innovation and regulatory compliance assistance. The Co-Oyo app for partners gives them access to updated payment-related information, analytics and value-added services.
Oyo claims an annual partner retention rate of 99.5 percent across the chain in India and South Asia. Over 75 percent of these hotel owners saw an increase in occupancy of almost over three times with a significant jump in profit, the company said.
