OYO added 40 hotels to its platform in the UK and doubled its revenues in 2022, compared to Covid-hit 2021.
The group's UK hotels also saw a 50% jump in revenue per available room (revpar) compared to 2021. OYO has more than 150 small hotels in at least 65 cities in its network in the UK.
Puneet Yadav, country head – OYO UK said: "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."
Gautam Swaroop, chief executive of OYO International, added: "OYO's UK operations have made full recovery since Covid and we have seen handsome growth both in revenue and revpar. OYO's AI- and ML-driven dynamic pricing engine continuously optimises prices for each hotel to improve tariffs while increasing occupancy, which results in higher revpar for our partner hotels. For instance, in the last four years, OYO's pricing engine has done over 11 million price modifications in the UK market.
"In addition, a 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."
OYO has a presence in more than 35 countries as well as its OVH vacation homes business, which operates legacy brands such as DanCenter and Belvilla.
The group was founded by Ritesh Agarwal in 2013 and partners with small-scale hoteliers to transform their service through technology.