IPO-bound OYO reduces onboarding process from 15 days to 30 mins with the launch of digital self-onboarding tool

Zooming its focus on technology, Oyo has launched a self-onboarding tool — OYO 360 — which will enable hotels to turn into an OYO in under 30 minutes, according to the hospitality unicorn.

The company said that the fully digital OYO 360 tool will simplify the onboarding process, and will fast-track onboarding in 30 minutes, as against a typical 15-day process.

Rohit Kapoor, Chief Executive Officer, OYO INSEA, said,

“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. As we sign up more patrons and keep building our network, we are confident that we’ll be able to attract more guests, diversify the customer base and solidify their business performance through OYO’s tech tool-stack,” he added.

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Using the OYO 360 tool, hotel owners can log in simply with their phone number or through social media accounts to initiate the property onboarding process. This tool would require basic details about the hotel, the number of rooms, amenities provided, as well as submit images of the property. The tool uses AI capabilities to auto-check for image quality, reject images with objectionable content, and auto categorises images by detecting elements in the images. OYO explained that if the property is already listed on any of the OTAs, all this information is auto-filled. With a simple review and in a single click, the company says the property can go live in just 30 minutes across all platforms.

OYO said in a statement that the self-onboarding tool will help property owners impacted by COVID-19 to boost their revenues and increase profits digitally. "As part of its supply acquisition strategy, OYO 360 will play a critical role in the organic growth of the business, including newer self-sign ups and growing the supply infrastructure via technology," it added.

According to OYO's internal data, the first 100 OYO partners who have joined via OYO 360 are witnessing 95 percent online bookings which are supporting their revenue lift.