OYO’S Best In Class Renovation Capabilities, Core To Its Growth And Expansion Strategy
OYO Hotels & Homes, South Asia’s biggest, one of China’s top five, and the world’s fastest-growing chain of leased and franchised hotels, homes & spaces, has set a new benchmark in transforming and renovating assets in a record time of up to 14 days - a stark contrast to the industry standard of 35 days to 90 days. With a 1,200 OYOpreneur-strong team of civil engineers and designers in India, China and other international markets, OYO Hotels has powered the transformation of over 9000 assets across territories while promoting sustainable infrastructure in the sector in 2018. OYO Hotels utilizes AI-led design approach while evaluating guest feedback and identifying their most-preferred design and is further supported by its in-house design labs - OYOXDesign and Townhouse Design Team. The company’s full-scale, capability-led model allows it to undertake a 360-degree transformation and renovation while upgrading the existing structure of an asset - from flooring, plumbing, air conditioning, painting, electrical fixtures to utilities upgrade. Technology-driven renovation and superior supply chain capabilities allow the company to reduce costs and time. To make this seamless, we have introduced a transformation app that enables us to make sure we leverage on our tremendous tech capabilities to renovate the properties. The app helps our teams understand the transformation requirements of a property while giving cost estimates, budget in addition to assigning tasks and tracking the pace at which the process is taking place. It also enabled overall visibility on the TR process to all the respective stakeholders. Sharing further details of on the approach, Maninder Gulati, Chief Strategy Officer at OYO Hotels and Homes, said, ‘’OYO Hotels has introduced innovative processes and technology to the global hospitality landscape. We have heavily invested in the upgradation of assets that are a part of our chain and made these structures efficient to fulfill the accommodation needs of our guests resulting in higher yields for asset owners. As a full-scale hospitality and accommodations company, we have built capabilities, including onboarding strategic properties within a record span of three to 14 days and renovating and upgrading them by leveraging our design and engineering talent. This pace has also fueled our global expansion across China, Indonesia, Malaysia among other markets allowing us to add over 64,000 rooms to our chain every month. We will continue to work towards sustaining this growth and steering closer to our mission of becoming the largest and most-preferred chain of hotels by 2023.’’ OYO Hotels has built and demonstrated deep capabilities in partnering with various formats of real estate and rapidly transforming them. With a diverse portfolio that spreads across villas dating back to 1920s under OYO Home to studio apartments as a part of OYO Living, the company has redefined the archaic processes while introducing agility to real estate. Its portfolio also includes brownfield assets.
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