OYO launches initiative for asset owners’ growth

NEW DELHI: OYO Hotels & Homes on Thursday launched the Open Partner Engagement Network (OPEN), an initiative for a year, to help its asset-owner partners in the country in growing their businesses.

“OYO Hotels & Homes has announced the launch of ‘OPEN’ to reiterate its commitment to asset owner’s success and start an industry-first series of year-long initiatives to help its ‘8,700+’ asset owner partners in India reach their business goals,” said a company statement.

Under the initiative, the hospitality company announced a set of six promises, including “transparent payment protocols” whereby “asset owners would receive 18 per cent interest (from OYO) on delayed payments and resolution for exceptions will be done before the due date”.

OYO also said it would facilitate access to easier financing options for partners through banks and other financial institutions with which OYO has forged partnerships.

It would also provide asset owners assistance in leveraging various marketing channels, including content and design support.

Along with technological support, OYO would help the hotel and space owners in the regulatory matters by providing them access to legal and accounting firms that specialise in industry requirements.

Commenting on the launch of OPEN, Aditya Ghosh, CEO of OYO’s India and South Asia operations, said: “With the launch of OPEN, we are laying the foundation of a structured way of exchanging ideas, providing support and most importantly, building a relationship of trust on which we hope to build the next several decades to come.”

Ghosh also announced launch of “Co-OYO” app, which would provide business metrics in a transparent manner.