Oyo launches self-onboarding tool for hotels to list in 30 minutes

Current onboarding time is 15 days. Oyo 360 tool provides a two-click platform for enrolment on its platform and offers three benefits of growth, partnership, and network

Oyo on Wednesday launched ‘Oyo 360-a self-onboarding tool’ for its prospective patrons, including small hotel, home-owners and the ex-Oyo patrons who have been impacted by Covid-19 to boost their revenues and increase profits.

With Oyo 360, the company will fast-track onboarding in 30 minutes from the current time of 15 days. This is a significant initiative under Oyo's increased focus on building a technology focused company.  

The Oyo 360 tool provides a simple two-click platform to enrol patrons on its platform and offers three types of benefits - growth benefits, partnership benefits, and Oyo network benefits. Over 70 per cent of hotel and home-owners who join Oyo have never sold online.

Based on internal data, hotel owners on Oyo witness 80 per cent demand digitally on an average globally compared with only 10-20 per cent before joining the platform, the firm said. The initial performance shows that the first 100 Oyo patrons who have joined via Oyo 360 are seeing 95 per cent online bookings which is supporting a rise in their revenue.

“With technology as a driver and data powering every touchpoint of the journey of our patrons including small hotel and home-owners, Oyo is carving a niche in the hospitality world with its diverse tech and product offerings. Oyo 360 is a big bet to accelerate supply acquisition and enhance the overall experience by making onboarding simpler and convenient. It aims to provide direct control on pricing, increasing occupancies and visibility on simplified contracts and reconciliation processes. Currently, daily 12 properties are being onboarded via Oyo 360 which brings us confidence on the success of this tool,” said Rohit Kapoor, Chief Executive Officer, Oyo INSEA.

As part of its supply acquisition strategy, Oyo 360 will help hotel owners achieve organic growth of the business, including newer self-sign ups and growing the supply infrastructure via technology, the company said in a statement.

Covid-19 has deeply impacted small hotel businesses significantly. Oyo 360 will allow business owners to simply log in with their phone number or use social media accounts to initiate their property onboarding process. This tool would require basic details on the hotel, room number, amenities, and imagery. The tool uses artificial intelligence capabilities in photo upload to auto check for image quality, reject images with objectionable content and auto categorize images by detecting the elements in the images.

If the property is already listed on any of the online travel aggregators, all this information is auto-filled. With a simple review, in a single click - the property will be live in just 30 minutes across all platforms.

In India, over 80 per cent of hotels and home owners on Oyo have opted to be on Oyo Secure - a prepaid wallet based system, where hotel and home-owners deposit money in a secure wallet that gets adjusted with the net payment reconciliation system. In addition, Co-Oyo/Oyo OS - the partner-facing app is a hassle-free property management solution with an integrated cloud-based system for onboarding and staff training, reservation and booking management, invoice management, housekeeping management, dashboard and analytics, live support.

Currently, in India, Oyo is witnessing 70 per cent Co-Oyo adoption, resulting in four times higher revenue per available room by regularly engaging the platform, the firm said.