OYO’s UK operations announced that it has added 40 hotels to its portfolio and doubled its revenue in 2022 compared to 2021. The group operates now more than 150 hotels in over 65 cities in its network in the UK.
OYO’s network hotels also saw a 50% jump in revenue per available room compared to 2021 and a 110% jump in revenue per available room vs 2020. A significant growth of its performances which illustrate the resiliency of the hotel operator.
OYO has notably added new hotels in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead and Boston.
We have been witnessing high interest from existing hotel owners in our portfolio who want to operate more hotels with us, as well as a lot of hotels in highly competitive cities such as London. Our revenue uplift track record, low hassle while joining OYO and highly tech-enabled operations and customer care support have been the key drivers of this interest.
Puneet Yadav, Country Head, OYO UK
OYO’s UK operations have made full recovery since Covid and we have seen handsome growth both in revenue and RevPar. OYO’s AI & ML driven dynamic pricing engine continuously optimizes prices for each hotel to improve tariffs while increasing occupancy, which results in higher RevPars for our partner hotels. For instance, in the last 4 years, OYO’s pricing engine, has done over 11 million price modifications in the UK market. In addition, top-of-the-line revenue management solution, strategic partnership with bed banks like HotelBeds and introductions of data-driven demand intelligence via PredictHQ, have been instrumental as we help small hotel businesses realise their full potential.
Gautam Swaroop, CEO, OYO International
London, Plymouth, Middlesbrough, Leicester, and Brighton are UK’s favourite holiday destinations of 2022 according to OYO data. Cities of Plymouth, Brighton, Hanwell, and Newquay saw the highest y-o-y growth in 2022 vs. 2021. Furthermore, OYO UK observed a 34% uptick in booking demand for the Christmas and upcoming New Year's Eve in comparison to 2021.