OYO Achieves First Profitable Quarter 🚀

OYO is Profitable 👏👏

The company has reported its first-ever profitable quarter and plans to go public this year.

COVID forced OYO to rethink its entire business model.

Instead of increasing the number of hotels now, the company is focussing on improving the revenue per hotel.

And as a result, they shut down 40% of their properties in just the last year. From 17,994 properties, they are now servicing only 12,546 properties.

The company has also shifted from a minimum guaranteed income to the hotels to a revenue-sharing model, which will reduce fixed costs for OYO.

Finally, OYO is also tapping premium customers by launching luxury stay brands like Palette and programs like ‘Spotless Stays’ and ‘Super OYO’.

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