OYO Hotels & Homes launches equal partner policy to strengthen trust of its asset owner community
Hospitality firmHotels & Homes on Thursday said it had launched an equal partner policy to strengthen trust and increase transparency with its asset owner community.
The startup hospitality chain said the equal partner policy (EPP) was aimed at creating a collaborative ecosystem for business improvements.
"OYO utilised the lockdown period to constantly engage with owners, take their recommendations, and improve ways of working to deliver immense value to them.
"The equal partner policy (EPP) is one such initiative that will serve as a guiding principle to strengthen trust and increase transparency in the asset owner community," the company said.
Under EPP, OYO said it had laid out seven guidelines - communication, respect, availability, transparency, recognition, technology, and togetherness - to ensure that the company creates a collaborative ecosystem with its owners for business improvements.
"EPP includes a concerted approach for proposed policy changes impacting business operations, complete transparency, simplified and clear reconciliation statements, rewards and recognition as well as financial support made available to owners if required," it added.
OYO India and South Asia CEO Rohit Kapoor said the company's leadership team had been continuously investing in establishing a deeper connection with the asset owners.
"We have introduced several initiatives, most of which have come straight from them, to enable us to bounce back stronger and better.
"Our simplified reconciliation statements, tariff manager for pricing controls, easy no show policy, weekly payments have strengthened our relationship with owners over the last year," he added.
As part of the new initiative, OYO said it had launched the second edition of its partner loyalty programme Club Red to reward owners for their commitment in offering the best hospitality experience to customers.
"The programme is customised to our asset owners' needs and takes into account the uniqueness each partner brings.
"Our owners are the backbone of our business and we are confident that we will continue delivering value to them with complete dedication as we drive OYO's resurgence in 2021, which will also fuel the recovery of the hospitality industry," Kapoor added.
In the past, OYO has faced protests from hotel and asset owners who had alleged that they have not been paid their dues by the company. The company refuted it, saying the allegations were baseless and motivated, and many of those protesting were not associated with it.