OYO, a prominent player in the global hospitality technology landscape, has unveiled its groundbreaking 'Prime Partner Program' designed to acknowledge and incentivize its most adept hotel operators. This strategic move not only provides seasoned hotel operators with avenues for business expansion but also underscores OYO's pursuit of collaborative ventures with real estate developers to uncover and cultivate novel hotel properties across diverse regions.
Embarking on the program's inaugural phase, OYO has forged alliances with 30 real estate partners, commencing operations in over 35 hotels strategically positioned in major cities such as Delhi, Bangalore, Hyderabad, Kolkata, Goa, Jaipur, Mumbai, Chennai, Pune, Pondicherry, and Vadodara. OYO's vision for rapid expansion involves seamlessly integrating cutting-edge technology and innovative hospitality solutions with insights derived from the real estate sector and invaluable local knowledge.
The cornerstone of the program involves OYO striving to secure annual to long-term management contracts grounded in revenue-sharing models for 200 premium hotels nestled within Indian metros. This distinctive initiative empowers top-tier hotel operators to accrue supplementary revenue streams sans the burdensome risks associated with leasing or the overhead expenses linked to launching new hotels. As part of the package, these operators will enjoy the dedicated support of relationship managers and privileged access to OYO's expansive network boasting over 15,000 corporate accounts and more than 10,000 travel agents.
Predominantly featuring within OYO's premium portfolio are the participating hotels, including the sophisticated offerings of Townhouse, Townhouse Oak, and Collection O. Furthermore, OYO extends a valuable proposition to property and hotel owners, presenting opportunities to lease their properties to the organization under fixed rental agreements, revenue-sharing structures, or management contracts. This not only guarantees the secure maintenance of their properties but also fosters a mutually beneficial partnership.
Participating hotels will proudly bear the label 'Managed by OYO' on both the company's app and website, serving as a visible testament to OYO's active and hands-on involvement in their day-to-day operations. The company, committed to ensuring excellence, diligently monitors the maintenance standards and customer reviews of these establishments, paving the way for recognition and rewards for the operators who excel in delivering exceptional service.
In essence, OYO's 'Prime Partner Program' is a transformative initiative that not only elevates the hospitality experience for guests but also establishes a symbiotic relationship between the global tech giant and its valued partners, fostering a collaborative ecosystem poised for sustained growth and success.