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Travel booking company OYO has made a major change in its check-in policy on Sunday. According to the new rules, couples will now have to provide proof of their relationship to check-in at the hotel. This document will be required for booking both online and offline. At present, this rule of the company has been started in Meerut as a trial. But now the question is why Oyo, which became so famous due to its uniqueness and became a big brand, is now preparing to change its image. Is this part of the company’s strategy? There are many examples when a country or company changed its image and strengthened its brand…
When Thailand changed strategy
There was a time when Thailand had an image of sex tourism. But by 2000, the demand for Thai restaurants suddenly increased around the world. Thai cuisine became popular. A dish called Pad Thai became famous. Between 2001 and 2019, the number of tourists to Thailand increased from 10 million to 39.8 million. Before the Corona epidemic, Thailand had become the eighth most visited country in the world.
It seemed as if the government had some big strategy behind this change in Thailand’s image. People were trained. Many initiatives were taken at the global level. The recipes were widely publicized. Offers were given to people.
For example, even in America
There was a time in the world when there was a perception that only burgers and hot dogs were good to eat. But America made a special strategy to change this image. America prepared a team of about 80 chefs for the White House and asked them to prepare local and South American dishes. These chefs were sent all over the world. Food related program was organized.
Similarly, many countries and companies have changed their image and strengthened their brand. Now the question arises whether Oyo is also on the same path? To understand this, first of all we have to understand the journey of this company.
Oyo company was started in 2013
It was started in 2013 by Ritesh Aggarwal. At that time the company’s target was low-cost hotels. There were two main reasons behind this identity of the company. Initially the company used to provide hotel rooms at very cheap prices. Due to this, cheap hotels started opening in small cities also. Secondly, the hotel was also available for unmarried couples without any hassle. Because of these features, Oyo was on everyone’s lips. Such a situation has arisen that instead of booking hotels, people book Oyo… even.
This specialty of Oyo is also controversial cause of Bunny. There have been controversies many times regarding his policy. There was a demonstration in Meerut also on the policy of unmarried couples. OYO was also under the scanner for illegal activities due to the video being leaked from the hotel and lack of verification. Some social organizations had also filed a petition against Oyo.
Changing strategy?
Oyo’s initiative from Meerut could be a part of their strategy. The thing is that amid all these controversies, Oyo is now trying to change its old image. The company strives to make itself safe and comfortable for families, students, business trips, religious trips and solo trips. With this change, she now also wants to increase her branding. The purpose of this change of the company is to strengthen the credibility among the visitors.
Even before the change in check-in policy, Oyo has started changing its strategy. In fact, OYO is organizing joint seminars with police and hotel chains on safe hospitality across the country. Oyo is continuously blacklisting hotels involved in unethical activities and taking action against fake hotels running in the company’s name.
Business in more than 80 countries
Oyo’s business model can also be gauged from the fact that by 2020, the company’s network is spread across 800 cities in 80 countries including Asia, Europe and America. More than 43 thousand hotels are managed under the OYO brand. Oyo first stepped out of the country into Malaysia. When the operation started there in 2016. According to company data, by 2021, the Oyo app had been downloaded by more than 100 million people globally. According to a report, in 2019, Oyo employed more than 17 thousand people globally. In which more than 8 thousand people are from India and South Asia.
Talking about revenue, the company’s revenue in financial year 2019 was Rs 6329 crore. Which increased to Rs 13168 crore in 2020. 4781 crore in 2022, 5464 crore in 2023 and 5388 crore in financial year 2024. According to the report, the company made profit for the first time in the year 2024. Japanese multinational company SoftBank has about 47 percent stake in this company. Whereas Ritesh Aggarwal has more than 33 percent stake in this company.