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Travel tech platform <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword> reported <keyword id="19910979" type="General" weightage="20" keywordseo="financial-year" source="keywords">financial year</keyword> 2023-24 as the maiden profitable fiscal with a net earning of nearly Rs 100 crore, founder <keyword id="20198157" type="General" weightage="20" keywordseo="Ritesh-Agarwal" source="keywords">Ritesh Agarwal</keyword> said on Thursday. In a post on social media platform X, Agarwal said he sees growth ahead "not just in India" but also in OYO's other key markets of Nordics, South East Asia, the US and UK. "While a delighted customer or a hotel partner brings the biggest smile on my face, our first cut financials of FY24 have me humbled as well," Agarwal shared. "We had our maiden net profitable financial year at nearly Rs 100 crore. This was our eighth consecutive quarter of a positive EBITDA and we also have a cash balance of around Rs 1,000 crore," he added. He further highlighted that global credit rating firm Fitch has also taken note of OYO's improved performance and strong cash flows, upgrading its credit rating. "I see growth ahead not just in India with emerging travel trends such as premiumization, spiritual travel, business travel and conferences, destination weddings but also in our other key markets of Nordics, South East Asia, US and UK. FY25 will clearly be even more exciting," the OYO founder stated. He added that these are provisional numbers, but the audited financials will likely be close to these. Earlier this week, Fitch Ratings announced it has upgraded the rating of OYO parent firm Oravel Stays, citing the hospitality company's improved financial profile. Fitch upgraded Oravel Stay's long-term foreign and local currency issuer default ratings to 'B' from 'B-' with a 'Stable' outlook, according to a statement. It also upgraded the rating on the company's USD 660-million senior secured term loan facility due 2026 to 'B' from 'B-'. In FY24, OYO added about 5,000 hotels and 6,000 homes globally. It also reported a PAT (Profit after Tax) of Rs 99.6 crore (USD 12 million) and an adjusted EBITDA of Rs 888 crore (USD 107 million) for the whole fiscal year, up from Rs 274 crore (USD 33 million) in FY23. EBITDA -- Earnings Before Interest, Taxes, Depreciation, and Amortization -- is an alternate way of calculating profitability to net income. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

At ₹100 crore, OYO posts FY24 as maiden profitable fiscal: Founder

<ul><li>With COVID-19 impacting the hospitality industry, bringing revenues down to almost zero, to now the steady recovery of the industry, there’s a lot that has happened through the course of the year. </li><li>Hospitality was one of the worst affected industries worldwide, however, with cities unlocking and global restrictions easing gradually, India topped the charts for OYO as the most booked country.</li><li>As OYO launches its annual Travelopedia, Rohit Kapoor, CEO, <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>, India &amp; South Asia tells us about India's favourite tourist hotspots, COVID-19 impact on OYO, <keyword id="10519936" type="UNKNOWN" weightage="20" keywordseo="travel-sentiment">travel sentiment</keyword> this year and some trends he expects to see in 2021. </li></ul>2020 has been a unique year that pushed every brand and industry to transform itself. While it started on a good note for the hospitality industry, with January 2020 (pre-covid) being the most travelled month, April 2020 witnessed most cancellations across the country owing to the government’s precautionary lockdown. Hospitality was one of the worst affected industries worldwide. The grinding halt on travel and tourism impacted home-grown hospitality brand OYO by bringing its revenue down to zero levels during the lockdown. However, with cities unlocking and global restrictions easing gradually, India topped the charts for OYO as the most booked country while Delhi clocked in the most bookings across the world in 2020. Consumer confidence was at its highest during December 2020 as OYO saw the highest number of bookings since India unlocked. Today, Ritesh Agarwal’s OYO has reached ~45% of pre-COVID occupancy levels and its used room nights have grown steadily 40% m-o-m since bottoming out in May. Some of the brands are performing much better with <keyword id="4100346" type="COMPANY" weightage="20" keywordseo="Oyo-Townhouse">OYO Townhouse</keyword> operating at 85% of pre-COVID occupancy levels. An OYO Hotel in Shahjahanpur and another in Chennai witnessed an average occupancy of 100% since lockdown. Over 8.5 million new user bookings were made on the OYO app and website in 2020. We caught up with Rohit Kapoor, CEO, OYO - India &amp; South Asia to discuss some of the key trends that came out in its third annual report - OYO Travelopedia 2020. <div type="Video" msid="80040904" hostid="261" title="Rohit Kapoor of OYO hotels and homes on India’s favourite travel hotspots and trends to be expected in 2021" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=80040904"></div> Lockdown’s impact A month down into the nation-wide lockdown, OYO realised that the macro factors cannot be controlled. As the hospitality industry came to a complete halt till the end of June, OYO decided to focus on improving its consumers and stakeholders’ pain points. It also wanted to use its space smartly by giving back to the society. It offered a helping hand to various hospitals and their doctors across the country. “After a few consumers started showing interest in travel, we launched an extensive campaign across the country to get in touch with our partners and stay in very close touch with our consumers. We tried to identify what consumers were thinking, some problems they were facing and what we could do to solve them. We worked with 24+ state ministries, 50+ government and private hospitals and hosted about a 250,000+ hospital staff and asymptomatic patients during the lockdown. 200+ sailors were safely quarantined at OYOs across India. 1,50,000 litres of disinfectant and 70,000 litres of sanitisers were used since April to welcome our guests,” shared Kapoor. OYO also on-boarded Sonu Sood as its brand ambassador, who emerged as a knight in shining armour and has been applauded for his humanitarian work to send thousands of stranded migrants back home during the lockdown. It launched a nation-wide campaign with Sood to woo its consumers. <div type="Youtube" id="ijSg92O1d30" title="OYO Sanitised Before Your Eyes" thumbUrl="https://i.ytimg.com/vi/ijSg92O1d30/mqdefault.jpg"></div> When Vande Bharat started, approximately 73,000 repatriated Indians completed their institutional quarantine at OYOs across India. Amongst these, most bookings were made by guests travelling from the Middle East, primarily UAE, Saudi Arabia, Oman, Kuwait and Qatar. Insights from OYO’s Travelopedia According to Kapoor’s predictions based on travelopedia’s insights, leisure travel is making a steady comeback - with tourist hotspots of Visakhapatnam, Kochi, Tirupati, Goa, Mussoorie recovering faster than other destinations. The data also revealed that Delhi, Bangalore and Hyderabad ranked as the most popular cities among business travellers while Jaipur, Goa, Kochi were travellers’ favourite domestic leisure hotspots. <div type="image" title="Oyo travelopedia" msid="80040415" hostid="261"></div> Speaking on one of the most important trends this year for OYO, Kapoor said, “One of the most humbling things we found out that has stayed with me is that a guest has stayed with us 128 times this year, something that tells us that we are on the right path and that our customers have immense faith in us even in tough times. While 2021 will be a new learning in itself, we’re hopeful that the changes we have brought in 2020 will set new precedents in the travel and hospitality sector and we are completely motivated to work towards providing safe stays to all our customers.” We're at that time of the year when people normally are in the mood to travel. Across India, without any surprise, the tourist hotspot of Goa emerged as the most booked beach destination, followed by Kochi, Vizag and Pondicherry. To target these beach-lovers, OYO also launched a campaign earlier this month titled ‘Chalo Beach Chalein.’ <div type="Youtube" id="6W_9U2C7G30" title="OYO | Chal Beach Chalein" thumbUrl="https://i.ytimg.com/vi/6W_9U2C7G30/mqdefault.jpg"></div> Interestingly, OYO has also seen a resurgence in religious tourism. Puri emerged as India’s top pilgrimage destination, followed by Vrindavan, Tirupati, Shirdi, and Varanasi. In December 2020, over 17 lakh people checked-in over the weekends. December 12, 2020 saw the most number of bookings (so far). The next estimated date is December 31, 2020 (bookings still coming in) Telling us how December turned out for OYO, Kapoor said, “This month, people are traveling to places they wouldn’t have thought of visiting earlier. For example, many of our users have shown interest in Mukteshwar, Ramgad or Bhimtal. Plus, one big change for everyone is that during this part of the year, people travel to international locations -- that’s not happening this year. That demand is getting funnelled to domestic markets and that is a trend I foresee continuing for at least 12 more months.” Kapoor has been traveling himself to locations he wouldn’t have been to otherwise. He has been to Jaipur and Udaipur with his family, then he went to Ramgad and worked from there for 15 days. He has also been on a road trip to Lucknow, Allahabad and Kolkata. From his many road trips to different parts of our country and from OYO’s in-depth research study, Kapoor noticed how people aren’t staying with their relatives anymore. They preferred living in a hotel, which is a cultural shift in our country. Walking us through Travelpedian further, Kapoor said, “If you look at the patterns emerge, the first unlock started with the big cities and we wondered what is it that these big cities offered: one type of cohort was those who wanted to just leave their homes and work from somewhere else. Secondly, people were worried about going and staying in someone else’s home, which is pretty common in India. I was in Allahabad in September and was trying to book an OYO, it was fully sold out. It was because of an exam which was going on and it was booked by parents whose kids were appearing for that exam. Third thing we saw is seasonality disappearing because work from home is allowed. The classic pattern of people travelling during peak seasons and vacations is phasing out. People are going away for staycations, working for 8-10 hours and using the rest of time for leisure. Lastly, they are also up for impromptu plans because they want to be reasonably sure that they are ready to travel.” OYO’s goals for 2021 The focus areas in 2021 would be more or less the same at OYO. Kapoor said that one thing that COVID-19 has taught us is that the future is unpredictable and the team is prepared for uncertain 2-3 quarters. “We have learnt the power of building product-led solutions for partners and that we will continue to invest in that. We want to open OYO-products and solutions to a much wider set of customers. We have all kinds of customers today but I think we have the opportunity to present OYO as the best option for anybody who is seeking good-quality experience. OYO has been recognised as the best start-up to work with and my focus would be to continue being the best place to work with for our target not just in India, but globally as well.”

Over 8.5 million new user bookings were made on the OYO app and website in 2020: Rohit Kapoor

<keyword id="29913" type="COMPANY" weightage="20" keywordseo="hospitality">Hospitality</keyword> major <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>' Singaporean subsidiary has received a term loan from <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>. A regulatory filing showed that <keyword id="4964826" type="COMPANY" weightage="20" keywordseo="OYO-hotels">OYO Hotels</keyword> (Singapore) Pte Ltd has secured a loan of $200 million from SB Investment Holdings (UK), an affiliate of <keyword id="3749718" type="COMPANY" weightage="20" keywordseo="softbank-vision-fund">SoftBank Vision Fund</keyword>, for enhancing liquidity through the pandemic and strengthening its balance sheet. The transaction was planned for 2020 and is being consummated now. <keyword id="2808667" type="COMPANY" weightage="20" keywordseo="OYO">OYO</keyword> has started recording steady signs of recovery across the globe led by its business in India, Europe and Southeast Asia while sustaining its gross margin to 100 per cent of pre-COVID levels. According to people in the know, a significant part of the funds will be diverted towards technology and data analytics. Recently, OYO's valuation reclaimed the $9 billion-mark after <keyword id="145884" type="DOMAIN" weightage="20" keywordseo="Hindustan-Media-Ventures-Ltd">Hindustan Media Ventures Ltd</keyword> invested Rs 54 crore or $7.31 million into the company. OYO Hotels &amp; Homes is present across 800 cities in 80 countries, including the US, Europe, UK, India, Middle East, Southeast Asia, and Japan. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/checkout-review-of-oppo-fitness-band-related-to-design-performance-price-and-battery-life/articleshow/81423414.cms">Oppo Band Style review – getting the basics right with a twist of flair</a> <a href="https://www.businessinsider.in/international/news/narendra-modi-joe-biden-yoshihide-suga-and-scott-morrison-are-set-to-meet-for-the-first-ever-quad-leaders-summit-on-march-12/articleshow/81424117.cms">The first-ever leaders summit of the QUAD may be another signal that it's ready for something more formal</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-share-allotment-status-of-mtar-technologies-ipo/articleshow/81424102.cms">MTAR Technologies IPO: Here is how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-cfo-explains-how-the-role-of-a-finance-head-has-been-changed-by-the-pandemic/articleshow/81423884.cms">EXCLUSIVE: TCS CFO explains how the role of a finance head has been changed by the pandemic</a>

OYO's Singapore arm secures $200 million loan from SoftBank

<ul><li>Prasidha Menon, VP &amp; Global Head of Communications - <keyword id="4964826" type="PERSON" weightage="20" keywordseo="OYO-hotels">OYO Hotels</keyword> &amp; Homes writes how the cardinal rule for all marketing and communications teams is to build a company’s communication strategy on the pillars of transparency, consistency, authenticity and empathy. </li><li>She shares a few drive impactful internal, external and social media communications in 2021. </li></ul>When in peril, it’s a human tendency to question the authenticity of the problem. The next step is, of course, solving the problem itself. When the COVID-19 crisis hit the world, some countries spent time understanding the magnitude of the virus. Some others were quick to acknowledge the problem at hand and then accelerate their decision-making processes based on the available information, learning from past crises of somewhat similar magnitude and embracing the uncertainty around this health crisis. Visibly, the latter group was able to control the situation better. To do this, such nations leveraged the power of timely and relevant audience-focused communications, and instilled a sense of urgency and collaborative responsibility, all of which helped bring people together and collectively rally towards the common goals of ‘beating the virus’ and adapting to the ‘new normal’ while the pandemic continues to create uncertainty. Today, as the world is slowly moving forward and taking a step towards embracing a new way of life, it is important to remember that the pandemic isn’t over yet. In my view, during such times, the cardinal rule for all marketing and communications teams is to build a company’s communication strategy on the pillars of transparency, consistency, authenticity and empathy. Needless to say, their communication should also reflect the same to all stakeholders - consumers, partners and, most importantly, the organisation’s employees. Here are a few ways to drive impactful internal, external and social media communications during a once-in-a-lifetime crisis (hopefully) like COVID-19: <cmsannotation type="cmsannotation" annotationid="Purpose-driven communications: Redefining communications objectives in a disrupted world" text="Purpose-driven communications: Redefining communications objectives in a disrupted world">Purpose-driven communications: Redefining communications objectives in a disrupted world</cmsannotation> In a world where COVID-19 disrupted the disruptors, there is increased scrutiny and skepticism on companies, especially startups, and their long-term success. Thriving in such an age of disruption and a fast-evolving situation requires every organisation to have a well-thought-out purpose, an objective that drives all engagements, and a clear long-term plan. Leaders should lead with purpose. To put it simply, a brand’s objective would greatly differ today than it used to be in the pre-COVID days since the impact of the pandemic on the business calls for re-tooling everything. Today, organisations have a never-again opportunity to recalibrate, go back to basics and rebuild a future-proof business, with a renewed focus. While companies focus on doing this, the PR &amp; Communications function must be deeply entrenched within the business to identify opportunities to engage with various stakeholder groups and rebuild the trust and confidence in the brand. While positive developments from the vaccine space give us hope, overarching communication plans must still be agile and designed to battle uncertainty at any given point. Flexibility is crucial, as is cohesiveness and scenario-based engagement or planning to ensure that the company’s reputation doesn’t suffer during the recovery process. <cmsannotation type="cmsannotation" annotationid="Elevated Role of Communications: As brand custodians, there is a need to find authentic ways to keep your stakeholders engaged" text="Elevated Role of Communications: As brand custodians, there is a need to find authentic ways to keep your stakeholders engaged">Elevated Role of Communications: As brand custodians, there is a need to find authentic ways to keep your stakeholders engaged</cmsannotation> Good communication efforts are incomplete in today’s times if they are not authentic enough to win the hearts and minds of your key stakeholders. Everything that the company does should have the ability to move people, drive brand love and build loyalty for the organisation. Even in cases of companies that had to take inevitable and tough decisions to safeguard their future, those that led with empathy and authenticity were respected for leading from the front. So far, the marketing and communication teams were working towards reputational goals, while driving business outcomes. Today, it is extremely important for them to be the voice of reason and play a significant role in helping the management arrive at key business decisions, whose impact goes beyond the brand’s external reputation. Storytelling in times of crisis needs to be purpose-driven and action-led. There is a clear need to remind business stakeholders that it’s not always about business afterall, and drive initiatives that matter to one or more of your stakeholder groups - consumers, employees, partners, or the larger communities that the company serves. For instance, it is often said that in times of distress, a customer or a partner’s interaction with a brand triggers an immediate and lingering effect on their sense of trust and loyalty. It is, therefore, important for brands to stay ahead of the curve and engage consumers and partners with content that matters - relatable messages that interest their well-being and ‘evolved’ lifestyle. To achieve this, communication teams need to synergize across functions - be it brand &amp; marketing, business &amp; data analytics, tech or business teams - and drive decisions and improvements that are in the best interest of their stakeholders. Such integrated efforts across audience-focused communication channels (social media, traditional media, SMS, emailers, webinars, etc.) enable organisations to stay connected to their stakeholders and drive brand resonance. When it comes to employee communications, the communications team needs to work closely with the HR department as well as the leadership to find interesting ways to understand the pulse of the organisation and design campaigns that address their needs - morale-building, learning &amp; development, dealing with the ‘new ways of working’ or mental health and wellness. Owing to remote working, employee engagement and team bonding activities may have taken a hit, however, through exciting topical virtual events with external experts, coffee sessions with leaders, and upskilling workshops, organisations can continue to keep the morale high among their workforce. Sustaining momentum during a long-drawn-out crisis like COVID-19 requires organisations to be bold enough to acknowledge that they might not have the perfect answer to every situation. Or, for that matter, even a complete understanding of the situation and its impact in the long term. But they must still commit themselves to ‘act responsibly and engage empathetically’ and their communications should reflect that with as much authenticity as possible.

The holy trinity of communications: A guide to a cohesive internal, external and social media strategy in the next normal

<ul><li>As <keyword id="6354312" type="COMPANY" weightage="20" keywordseo="IPL">IPL</keyword> warms up, more and more brands will start coming up with campaigns to grab the attention of the league's audience.</li><li>During such a time, it is a pleasant surprise to see a brand swim against the tides and come up with a campaign talking about a sport other than cricket.</li><li><keyword id="5030059" type="UNKNOWN" weightage="20" keywordseo="Mayur-Hola">Mayur Hola</keyword>, Head of Global Brand, <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword> tells us more about the campaign and about why the brand keeps using Print.</li></ul>For the past week, cricket has been ruling our minds and our screens. There has been a bombardment of campaigns that are aimed at grabbing the eyeballs during Indian Premier League (IPL) and brands, like every other year, are going all out. Therefore, it came as a good surprise when we came across a Print ad by Oyo, not talking about cricket, but about <keyword id="6362179" type="PERSON" weightage="20" keywordseo="hockey">Hockey</keyword>. These few months that IPL is on, most other sports are completely neglected. Brands and consumers alike forget about the existence of any other sport, which is why it was a surprise, and a really good one, to see this ad from Oyo, just as IPL is starting to warm up. <div type="twitter" handle="oyorooms" handlename="OYO" image="http://pbs.twimg.com/profile_images/1336945719781945344/WyBChLdY_normal.jpg" favoritecount="18" retweetcount="1" status="While India ODs on cricket, other sports will stay buried. But more than cricket, we love a discount. Use coupon co… https://t.co/ULtM0ogLLu" createdat="1618548368000" id="1382918205828517894"></div> The text and the message in the creative is pretty simple. “While the nation ODs on T20 cricket for the next few weeks, most other sports are destined to stay buried under run rates, slower ones and free hits. There’s just one thing we all might love more. A great discount. So here’s one. Go to the OYO app, apply the coupon code ‘HOCKEY’ while paying for a safe and sanitized room and you’ll get a flat 45% off. Why Hockey? Team India is playing Olympics champions Argentina in Argentina. And they have got off to a great start by winning the first two matches. That’s it, that’s the update. Hopefully we all remember this sport just a bit more now. 45% more maybe?’ What makes the ad great is, it is not being preachy, telling you that you should give equal importance to other sports. It’s a great example of why long-copies, when smartly done, are still effective. The messaging is clear and it hooks you, with the smart use of a cricket ball at the top of the creative and the use of the word ‘Hockey’ as the header. The ad was noticed, and appreciated by many on Twitter. <div type="twitter" handle="beastoftraal" handlename="Karthik" image="http://pbs.twimg.com/profile_images/1140493276316745734/WH-6N17h_normal.jpg" favoritecount="127" retweetcount="27" status="This caught my eye for swimming confidently against the current! https://t.co/rktbWOr0Lf" createdat="1618550631000" id="1382927698855481346"></div> <div type="twitter" handle="thefullmohanty" handlename="Some bits" image="http://pbs.twimg.com/profile_images/1273614433571356672/1LBFQM3H_normal.jpg" favoritecount="136" retweetcount="18" status="Been a while since I saw a nice print ad! Good show ⁦@mayurhola⁩ ⁦@oyorooms⁩ https://t.co/J2cVtWcqij" createdat="1618547101000" id="1382912890848436226"></div> <div type="twitter" handle="aniketrthere" handlename="Aniket Tamboli" image="http://pbs.twimg.com/profile_images/1246562298946301955/COM5T65S_normal.jpg" favoritecount="1" retweetcount="1" status="Say &quot;long copy is dead,&quot; one. More. Time. What a brilliant ad! https://t.co/XiVtC6o81r" createdat="1618552154000" id="1382934086809907202"></div> We caught up with Mayur Hola, Head of Global Brand, OYO Hotels &amp; Homes to understand what it is they were wanting to achieve through the campaign and realized its part of a much bigger campaign. “As someone recently pointed out, many people don’t even remember this is an Olympics year. There are a lot of sportspersons out there putting in a lot of effort. Our Hockey team is in Argentina and they are playing the best teams in the world. Even our wrestlers are doing that. So, we thought it is important that people talk about sports other than cricket. So it is Hockey to begin with. During the seven weeks of IPL, you will find us covering seven sports, which we believe, needs our support for various reasons. As a nation, we can cheer for more than one sport,” he said. What was interesting is the fact that the brand chose Print as a medium. Considering it’s a digital platform and a lot of its users are young, and more tech savvy, we asked Hola about his choice of medium for the campaign. He said, “A lot of the times, when brands want to put out a reassuring message, Print becomes an important medium. The medium has worked well for us in the past too. And when a <keyword id="560709" type="PERSON" weightage="20" keywordseo="print-campaign">print campaign</keyword> takes off, like it did today, it covers a wide spectrum of our audience. Let's face it: today we have two different sets of audiences, the ones who consume print, and the ones who don't. OYO is a brand that is used by people who go to work, equally it's used by young people who perhaps don't even read the newspaper. That's why we find print such an interesting medium as opposed to say social media. Social media helps us reach our bang-on audience really well but print helps us reach out to a much wider audience. So when we use Print, our intent always is either to make an impact, or come up with reassuring communication, be counterintuitive, as we are today, with people who will pick up the paper, and then hope as well as plan, to make it jump off from paper to pixels, which then means that our younger audience also consumed it. Paper to pixels is always our intent with Print.” Here’s to more such thoughtful campaigns and the effective use of Print!

OYO’s ‘Hockey’ print campaign is winning the internet; there’s a lot more in store, says its head of global brand Mayur Hola

Hospitality major <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>' valuation has reached the $9 billion-mark, according to industry sources. The development comes after the latest fundraise of ₹54 crore or $7.31 million from <keyword id="145884" type="DOMAIN" weightage="20" keywordseo="Hindustan-Media-Ventures-Ltd">Hindustan Media Ventures Ltd</keyword>. In a regulatory filing with the Ministry of Corporate Affairs, OYO said that it has raised ₹54 crore ($7.31 million) at a share price of $58,490 as part of its <keyword id="10872902" type="UNKNOWN" weightage="20" keywordseo="series-f1-round">Series F1 round</keyword>. With over 50 products and more than 500 microservices, the company plans to utilise the capital in strengthening its technology stack for delivering an improved partner and customer experience. <keyword id="183958" type="DOMAIN" weightage="20" keywordseo="Hindustan-Media-Ventures">Hindustan Media Ventures</keyword> subscribed to OYO's Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) for cash at an issue price of ₹43.20 lakh per Series F1 CCCPS for an aggregate consideration equivalent to ₹54 crore to Hindustan Media Ventures Limited on a private placement basis. The growth in valuation comes after it dropped to $8 billion last year from $10 billion in November 2019. OYO Hotels &amp; Homes is also backed by investors including the SoftBank Vision Fund, <keyword id="122716" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword>, <keyword id="860456" type="PERSON" weightage="20" keywordseo="Lightspeed-Ventures">Lightspeed Ventures</keyword>, Airbnb, and Hero Enterprise, amongst others. In October 2019, OYO announced that it had raised $1.5 billion, as part of its Series F funding round. As a part of this round, RA Hospitality Holdings' infused approximately $700 million as primary capital in the company, with the balance of $800 million being supplemented by other existing investors. When contacted Abhishek Gupta, Chief Financial Officer, OYO Hotels &amp; Homes told: "We are delighted to welcome HT <keyword id="283616" type="DOMAIN" weightage="20" keywordseo="Media-Ventures-Ltd">Media Ventures Ltd</keyword>. as an investor in OYO. Their support will help us to further build on our unique technology stack for small hotels and homeowners across the world." He said that OYO is on a steady path of resurgence in 2021, the company is seeing signs of recovery in its core markets of India, Europe, and Southeast Asia while sustaining gross margin dollars at pre-Covid levels. "Despite the pandemic, the company's valuation has held through and we believe this will only improve as the guests across the world gradually begin to travel again," Gupta said. Piyush Gupta, Group CFO, HT Media Ventures Ltd, said: "We are extremely excited to partner OYO in its mission of supporting owners and operators of small and independent hotels and homes through its pioneering technology. We look forward to working with the company's management as it continues to add value to the experience of its asset partners and guests alike." Hindustan Media Ventures is promoted by HT Media Ltd which holds 74.4 per cent stake in the company. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-find-my-stalking-airtags-item-safety-alerts/articleshow/81342449.cms">Apple’s new Find My feature updated to prevent stalking as launch of the rumoured AirTags nears</a> <a href="https://www.businessinsider.in/tech/news/regulating-digital-news-is-important-but-freedom-of-press-is-precious/articleshow/81341289.cms">OPINION: Regulating digital news is important but freedom of press is precious</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-makes-a-bumper-debut-on-stock-exchanges/articleshow/81342578.cms?upcaceh=2">Heranba Industries makes a bumper debut on stock exchanges — shares soar 44% over the issue price band</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Bankers may be working all 31 days of March with the government looking to double the loans doled out under the PM SVANidhi scheme</a>

OYO's valuation climbs again — hits $9 billion after its latest fundraise of $7 million

<ul><li>2020 turned the marketing world upside down. All businesses had to adapt and relook at their strategies. </li><li>More traditional brands moved online and increased their investments in digital marketing. </li><li>As we end our series, in today’s feature, we speak to new-age brands to find out how the pandemic impacted their perspectives towards marketing and a few trends that they expect to see this year. </li></ul>The ongoing pandemic has revolutionised how businesses function in the entire world. While COVID-19 pushed Indian brands to move online, it also made them relook at the tone of their marketing campaigns. As consumers tried to adjust to the new normal and heightened stress levels due to an uncertain future, advertising became more conversational and empathetic in 2020. Brands reminded their consumers and even their competitors that we are all in this together. According to Zeno, when a brand is perceived to have a strong Purpose, consumers were four times more likely to purchase from the brand and 95% of surveyed Indian consumers were likely to continue to support brands in the event that they were to make a misstep or receive public criticism. The pandemic has given the brandverse some time to pause, reflect, rework their strategies and they even kept aside competition to prioritise consumer interest. Consumers have started appreciating <keyword id="10689248" type="UNKNOWN" weightage="20" keywordseo="empathetic-advertising">empathetic advertising</keyword> instead of adversarial advertising, especially in stressed situations like extended WFH, threat of Covid and living away from their family members and friends. Apart from that, there was more conversation on AI, MI and XR. There will be more focus on videos, influencer marketing and hybrid events. With a new-found appreciation for life and altered perspectives towards marketing, we reached out to new-age brands to understand how did COVID-19 change their marketing approach and what are some of the trends that they expect to see in 2021. Here is what they said: Mayur Hola, Head of Global Brand, <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>: <div type="image" title="Mayur Hola, Head of Global Brand, OYO Hotels &amp;amp; Homes" msid="80636771" hostid="261"></div> I thought I’d do some research for this one and read pieces posted by global consulting firms, A&amp;M publications, gurus, digital agencies et all. They were all super and gave guidance on personalisation, look-alike cohorts, selling on social, VR, chat bots, influencer marketing, programmatic, omnichannel, SEO, mailers, PNs, video content and so many other helpful things. But. We’re doing all this already. So is doubling down on what’s already working the new trend? I thought that was called common sense. Here’s the one trend I see in 2021. Delivering on your promise. Brands will speak 1:1 with their consumers more than ever and look to deliver what is asked of them. Because false promises and random unconnected purpose is being seen through and called out. Doing right by your consumers. There’s your purpose. Now put out some awesome creatives based on that. Rahul Deorah, Vice President- Marketing at Urban Company: <div type="image" title="Rahul Deo urban clap" msid="80636860" hostid="261"></div> Marketing has always been about understanding how a consumer reacts to certain triggers and how brands can use that to influence them. The year 2020 made us all think on our feet. Everyone had to go back to the drawing board to think of how to communicate the “safety” of purchasing or availing their products and services. However, in 2021, the trend I foresee emerging is deeper investment in the core consumer offering and, with consumer media habits changing, a declining trend in the absolute investments by brands to reach customers, with deeper efficiencies in the media mix. Naresh Krishnaswamy, Growth &amp; Marketing Head, Cure.fit: <div type="image" title="naresh-krishnaswamy-curefit" msid="80636918" hostid="261"></div> We have seen massive upheavals last year in terms of marketing with consumer focus shifting primarily to digital channels owing to the pandemic. While such changes and shifts in trends happen each year, last year in particular saw a faster pace of change in marketing strategies and execution, opening up a great vistas for innovation and experimentation. Going into 2021, I expect the trends from 2020 to still continue. This coming year might mark a comeback for some companies who may up their marketing strategies in accordance with lessons learned from 2020. To solidify their positions in the market, brands need to focus on the development of a deeper level of trust with their customers. People will continue to place a higher premium on trust and transparency and companies need to be able to communicate efficiently with their customer base. Moreover, with some pandemic-related restrictions still in place, virtual events and platforms will continue well into the coming months. While there is some amount of burn out from online events, there is also scope for further innovation. Marketers will have to be prepared for technological advancements. Emerging technologies, automation, AI/ML, augmented reality, etc. can heighten the immersiveness of such experiences and create space for more one-on-one interaction with audiences. More marketers should shift their focus on creating more enhanced consumer experiences online while we wait to physically get back to our previous lives. Kartik Johari, Vice President, Nobel Hygiene: <div type="image" title="Kartik johari nobel" msid="80636931" hostid="261"></div> Consumer Trends: Consumer spending will moderately rise, but economic woes will start weighing down on people. So far, we have survived the lockdown and the macroeconomic situation by burning our accumulated wealth and health. Sooner or later, there is bound to be a deep impact on our collective national psyche, of worsening unemployment, of a worsening economy, healthcare, etc. Additionally, areas such as healthcare and personal care have taken an irrevocable step forward. We will see more growth on this front. People will focus on their physical health and will reorganize their time around it. There will be new problems to face, with a growing threat from medicine-resistant bacteria, growing now due to a heightened consumption of hand-sanitisers. Value-based spending and ecologically sensitive spending is here to stay. People will henceforth buy/support brands with a similar ethos (true or not, is immaterial). Similarly, brands' efforts towards minimizing their carbon footprint will be appreciated by consumers. Market Trends: Hygiene and FMCG will trend upwards, while other indicators will remain muted. Even IF the vaccine is successful, our market dynamics have not improved overnight. We are still an agrarian economy, without adequate public infrastructure on healthcare and education. We will require massive government spending to boost our market performance. Markets will remain in a state of limbo as they are now, wildly volatile and without impetus. We are now going into the 13th year without a market correction; at some point, this is bound to catch up. Online Trends: Video content all the way, and a permanent boost to eCommerce. People have become comfortable consuming content and making transactions online, including using E-Wallets. However, apart from the obvious, only time will tell which long-term trends will sustain. There will be a boost in services that can help effectively target individuals in this new crowded realm, and some that can help them make sense of the breadth of content and services available. Teaching and Training will have permanently moved online, and the sector will continue to grow tremendously, and will also help other sectors to aid in ancillary teaching services in person. Dunzo's brand team: <div type="image" title="dunzo mascots" msid="80636941" hostid="261"></div> One of the most important takeaways from 2020 for all content lovers has been the stories that uplift and inspire them. In a changing world, stories of the human spirit and the impact we as individuals and brands can have in our world, resonate most with users and customers. Going forward, we hope to keep that positive trend going with more stories from our community, touching on important human issues, and delivering some hope and delight with every post. Another trend we foresee is the continuation of moment marketing and putting our brand's unique spin on a viral sensation. It's always like an inside joke that is shared by a large audience, with no need for explanations or context. Finally, as we focus on quality over quantity, we plan to dive deeper into some of Dunzo's impact and inner workings through mediums such as podcasts and blogs. Using a combination of all three trends, we hope to expand our audience as well drive stronger engagement and shareability of content.

Marketing: Trends to watch out for in 2021

<ul><li>Nearly 1.8 - 2 lakh guests spent their long weekend at OYOs across India </li><li>OYO’s <keyword id="9896751" type="UNKNOWN" weightage="20" keywordseo="booking-trends">booking trends</keyword> reveal that Jaipur, Goa, and Kochi topped as India’s most <keyword id="10055480" type="UNKNOWN" weightage="20" keywordseo="popular-leisure-destinations">popular leisure destinations</keyword> among travellers this long weekend.</li></ul>With state borders opening up and relaxation of restrictions across the country, travelers are back into action. As per OYO’s recent consumer survey, 57% of respondents said that their next trip would be for leisure, while 61% had already decided the destination for their coming vacation. OYO’s booking trends for the long weekend, between 02nd and 04th October, clearly reflects India’s travel aspirations and confidence to hit the roads once again. As a result, <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>, saw a 72% surge in bookings for leisure destinations between 02nd October and 04th October. Over the weekend, nearly 1.8 - 2 lakh guests spent their long weekend at OYOs across India. OYO’s booking trends reveal that Jaipur, Goa, and Kochi topped as India’s most popular leisure destinations among travellers this long weekend. Interestingly, most of this demand came from Delhi, making it the city with the highest aspirations to travel again. Through OYO’s consumer survey, safety emerged as the consumer’s top priority, further to which 56% would opt to travel via a private vehicle to nearby locations with their family or friends. The survey also highlights that travellers are most likely to plan their vacations between 1 - 3 days. Very close to the survey findings, OYO has observed that Delhiites took inter-state road trips to tourist hotspots, with Jaipur and Agra topping charts. Majority travellers from Pune, Bangalore, Mumbai preferred to spend their long weekend along the exotic and relaxing beaches of Goa. Down South, Kochi was the most popular leisure destination, with most people coming into the city from Bangalore, Kozhikode, and Thiruvananthapuram. As for leisure destinations like Lucknow, Jaipur and Vishakhapatnam, most demand stemmed from Bhubaneshwar and Vijaywada respectively. Here are the top leisure destinations across India and the four zones across the country: <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Region </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Most popular leisure destinations for the 02nd October long weekend </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jaipur Goa Kochi Vishakhapatnam Agra </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">North India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jaipur Agra Mussoorie </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">South India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kochi Vishakhapatnam Pondicherry </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">North East India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digha </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">West India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goa </td></tr></tbody></table> To ensure their health and safety, during their stay over the long weekend, OYO’s consumer survey shows that the majority of travellers are looking for value for money and cleanliness while booking their accommodation. Standing true to this insight, a whopping 91% of guests chose OYO hotels and homes with the ‘Sanitised Stays’ safety tag. Commenting on the boost in bookings and comeback of leisure travel, Rohit Kapoor, CEO, India &amp; South Asia, OYO said, “Travel is coming back, faster than we expected. All around the world, people are now looking forward to travelling and especially, exploring exciting local hidden gems. With safety being the traveller’s first priority, air travel has taken a backseat for more private and safer options like in-city staycations and roadtrips to nearby domestic vacation spots. We’re extremely happy to share that we saw a 72% surge in bookings this long weekend. These green shoots for leisure travel are a positive sign of rising consumer confidence. It shows that people are ready to move beyond the challenges brought about by the pandemic and embrace solutions to resume life in the new normal, with precautions and by diligently following the necessary government guidelines.” He adds, “At OYO, we are listening to our consumers, ensuring that we address their concerns, their worries and their requirements to make travel decisions simpler, more convenient. To do so, our senior leaders personally spoke with 2000+ consumers and through these conversations, we understood that leisure travel will eventually come back soon, and therefore, we strengthened our preparedness to welcome guests safely with Sanitsied Stays. We also introduced Travel Assistance on our app to help with COVID-19 testing and state-wise guidelines, and thereby, becoming a part of our guests’ journey right from the very beginning.” While there’s a surge in demand for leisure travel across the country, consumers are increasingly looking for trusted clean &amp; sanitised stays, with 80% users searching for sanitised stays, while 46% users seeking regulation related information while planning their next travel.

Indians are travelling again! OYO saw a 72% surge in bookings for destinations like Jaipur, Goa and Kochi during the long weekend

<ul><li>In our latest interview series, we speak to a few CMOs to understand how they are helping out their organisations find the right ways to connect with consumers.</li><li>Mayur Hola, Head of Global Brand, OYO tells us how the brand has been using its marketing tools to help out people.</li></ul>India crossed the three-lakh mark of fatalities on May 24 as it reported 4,454 new deaths in a single day due to <a href="https://www.businessinsider.in/india/news/india-becomes-third-country-to-surpass-three-lakh-mark-of-covid-19-deaths-with-4454-new-fatalities-in-a-single-day/articleshow/82900228.cms">Covid-19</a>. India is the third country to cross three-lakh deaths after US and Brazil. This second wave of COVID-19 has impacted our livelihoods and businesses like never before. All employees are struggling to focus at work. At such dire times, many companies are trying to launch wellness programmes at work to ensure a positive work environment or doing their bit by amplifying the SoS requests and/or donating to NGOs. And this battle is far from over. Understanding the gravity of the situation, India’s hotel unicorn OYO has extended its support to help out its employees and customers. OYO’s employees who have lost their lives due to COVID-19, will be given 8 months payment and the company will support the education of their children for five years. It has also moved to a 4-day working week for the month of May. “2021 is grim. What's going on is just a whole other challenge to deal with. Almost every single person of our team is impacted either personally or with someone amongst their family or friends getting infected,” said Mayur Hola, Head of Global Brand, OYO. “There's organisation-wide tracking and a Covid war room setup to help people with whatever they need; Oxygen cylinders, OCs, hospitalisation, meals, medicines etc. What we've done in addition to that is set up a team level tracker to check on folks every day. It's just a more personal way to do this we find. And if anyone or their family is impacted then it's just normal for us to check on them daily and see if they need anything. Both as someone who works with a team and as just a human being, you have to make time to check on people today. It's not a formality, it is a necessity.” In the interim, OYO has also shifted its marketing strategy and has recast its business model. It has turned a few of its properties to function as quarantine and isolation facilities for COVID-19 positive patients. On how the second wave has impacted OYO’s larger business goals, Hola said, “Ritesh gave us a very simple goal for the next little bit. We will help whoever we can and prevent as many lives from being lost as possible for us to do. I think it's a great goal to focus the organisation towards. And we've got hundreds of people coming together to do exactly that.” The company had conducted a guest survey to identify upcoming industry trends. As per the survey, 87% of the OYO customers said that they will prefer hotels with immunised staff when they plan to travel again. “Vaccination visibility when self-reported timely and accurately will become a confidence builder for travel recovery,” tweeted Founder and Group CEO Ritesh Agarwal. So, during the second wave, OYO’s two major focus areas have become: OYO care and VaccinAid; the latter is a feature on its app that shows self-reported vaccination status of hotel staff across the country. Telling us more about OYO’s focus areas for this quarter, Hola said, “It really helps when you've got a direction as clear as we have to help people in general and OYOpreneurs and their families in particular. Today, the brand we all are focusing on is OYO Care. Our quarantine and isolation stays project is a big focus area for us. Both on the retail and corporate (b2b) side. And the VaccinAid feature that transparently declares properties which have vaccinated staff and encourages our guests to vaccinate themselves is another focus area for the mid to long term. It is not business as usual, but it is perhaps more rewarding than usual to be able to help even one person today.” During the nation-wide lockdown 1.0, the grinding halt on travel and tourism also impacted home-grown hospitality brand OYO by bringing its revenue down to zero levels. However, with cities unlocking and global restrictions easing gradually in the second half of the year, OYO reached ~45% of pre-COVID occupancy levels in December. As many other CMOs, 2020’s uncertain time taught Hola how to draw boundaries between work life and personal life. He told us that 2021 has been a little easier in terms of adjusting to the sudden waves of changes as felt more prepared for the uncertain challenges that come in his way. “The first wave was like learning to surf. We fell off the surfboard a lot. It was a lot of getting used to. But now working from home is something you've learnt to deal with and you just get on with it. Schedule wise, I find that it's more sorted. Work days are intense as usual but everyone has fallen into a pattern and there's a lot more respect for post work hours and weekends. More than anything, 2020 taught us what to expect and as such we're a lot more prepared (work wise) to deal with the second wave,” said Hola. On social media front, OYO has been focusing on connecting with COVID survivors and reminding people to get vaccinated. Business-oriented communication has taken a backseat for now. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Its print ad won hearts on the internet for using the advertising space wisely. It published a ‘handy Spo2 chart’ on the first page of Hindustan Times for people who are tracking their loved ones oxygen levels on a daily basis. The copy read, “We can keep saying that we care but unless it helps you, it’s a waste. So we decided to give you our ad space to take care of yourself and your loved ones.” <div type="twitter" handle="RohanKochhar" handlename="Rohan Kochhar" image="http://pbs.twimg.com/profile_images/1357300572601286656/FuosOMJ1_normal.jpg" favoritecount="142" retweetcount="23" status="This advertisement by OYO Care today is marketing at it’s brilliant best!Well done @oyorooms https://t.co/EGWoowmJbB" createdat="1621589586000" id="1395674000873836547"></div> This print ad is a great example of how brands can use advertising, which is the biggest and strongest weapon they hold, to provide value to its audience and bring about change. “Right now, our only focus is to help and we're using whatever tools and channels we have to do so,” said Hola. Many marketers have chosen silence to help their audience deal with the horrifying situation that our country is facing or they have chosen to continue selling products as usual. There are a few handful brands that have taken a kind, empathetic approach in their advertising campaigns. On what should brands do in today’s scenario, Hola said, “If you can help, please help. Even if you're selling goods or services that are helpful, that's fine. But whatever you do, don't moment market this crisis. There's a special place in communication and marketing hell reserved for that.” <keyword id="4964826" type="COMPANY" weightage="20" keywordseo="OYO-hotels">OYO Hotels</keyword> and Homes currently has over 1,00,000 small hotels and homeowners across 800 cities in 80 countries on its platform <div type="Article" hostid="261" msid="82099226" title="OYO’s ‘Hockey’ print campaign is winning the internet; there’s a lot more in store, says its head of global brand Mayur Hola" mstype="2" mssubtype="0"></div>

Don't moment-market this crisis; there's a special place in communication and marketing hell reserved for that: Mayur Hola of OYO

Rohit Kapoor of OYO hotels and homes on India’s favourite travel hotspots and trends to be expected in 2021

<ul><li>A survey by travel agency Agoda found wellness to be one of the top three motivations for Indians to travel in 2023. </li><li><keyword id="2808667" type="General" weightage="80" keywordseo="oyo" source="Orion">OYO</keyword> and EaseMyTrip shared that Gen Zs and millennials are pursuing spiritual pursuits, including trips to religious destinations. </li><li><keyword id="6357203" type="General" weightage="80" keywordseo="varanasi" source="Orion">Varanasi</keyword>, <keyword id="48458" type="General" weightage="20" keywordseo="Tirupati" source="Orion">Tirupati</keyword> and <keyword id="4903" type="General" weightage="20" keywordseo="Puri" source="Orion">Puri</keyword> were some of the favoured destinations as per data shared by four different travel organisations.</li></ul>The pandemic turned the world digital but also led to multifold physical and mental health issues. Consequently, digital detox and regeneration have become <a href="https://www.businessinsider.in/india/news/travel-trends-in-2023-digital-detox-regenerative-travel-and-inner-peace/articleshow/96281360.cms">increasingly</a> popular. In India, this has translated into an increased interest in spiritual and wellness tourism, including trips to religious destinations, according to travel agencies. And this interest has expanded to include GenZs and millennials. Travel agency Agoda conducted a survey and found wellness to be one of the top three motivations for Indians to travel in 2023. The survey was conducted with 10,000 travellers from across 12 countries, including India. As per Agoda, “Many (people) wish to embark on trips to recharge themselves, mentally and physically, with wellness contributing to the number two spot in the ‘reasons to travel’ ranking of Agoda’s Travel Trend survey. Countries with high inclination include India (20%), South Korea (24%), Singapore (25%) and Thailand (29%).” <cmsannotation type="cmsannotation" annotationid="Spiritual tourism no longer restricted to senior citizens" comment="subhead2" text="Spiritual tourism no longer restricted to senior citizens">Spiritual tourism no longer restricted to senior citizens</cmsannotation> For the longest time, religious destinations were considered to be low on the travel bucket list — especially for GenZs and millennials, but that appears to have changed. “With the need for spiritual connect taking priority, millennials and GenZs are setting new trends for the industry. With every passing day, spiritual and self-care travel are catching pace, and the demand is growing,” said OYO in its Cultural Travel 2022 Roundup Report. As per the travel agency EaseMyTrip, there has been a 60% increase from 2019 in people in general are opting for holy destinations or spiritual or wellness tour packages. And, women aged between 30-35 are leading the search. “We’ve observed a sharp surge of 60% in the number of tourists opting for spiritual and wellness retreat packages as compared with pre-Covid. These are closely linked with religious pilgrimages and the various festivals prevalent across the subcontinent,” said Rikant Pittie, co-founder, EaseMyTrip. “More than ever, travellers are looking within, and often they are seen clubbing this journey within - with a trip to wellness or a spiritual retreat. Tending towards slow and spiritual travel formats, travellers opt for wellness or therapeutic retreats that allow them to disconnect and rejuvenate from their busy schedules,” said a spokesperson for MakeMyTrip. <cmsannotation type="cmsannotation" annotationid="Top favourite destinations" comment="subhead2" text="Top favourite destinations">Top favourite destinations</cmsannotation> In light of the rising interest in spiritual destinations, certain places are definitely enjoying more interest than others. Varanasi, Tirupati and Puri were among the top destinations as per data shared by four travel organisations — Ixigo, EaseMyTrip, OYO and Kayak. “Cultural destinations like Varanasi saw more than 50% rise in bookings for travel last year on our train apps. Tirupati in Andhra Pradesh witnessed one of the highest comebacks and was the most-searched spiritual hub in 2022 recording a 200% increase in train search queries,” shared Rajnish Kumar, co-founder, Ixigo. The increased interest in these destinations is also boosted by pent-up demand for travel and the availability of better facilities like hotels and good connectivity to reach the destination, said OYO in a report that was released in December 2022. Rishikesh, famous among Indians and foreigners alike, is known for its ashrams and adventure sports like river rafting. At the same, it’s home to India’s premium hotels, like Ananda wellness resort and Taj Rishikesh. Similarly, popular religious destinations like Tirupati and Puri offer luxury accommodations — Marasa Sarovar in Tirupati or the Mayfair Heritage in Puri. Ixigo and OYO also listed Mathura, Mahabaleshwar and Madurai as emerging spiritual tourism destinations in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-is-going-to-be-a-huge-paid-market-spotify-india/articleshow/98442816.cms">India is going to be a huge paid market: Akshat Harbola, head of strategy, Spotify India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a>

Gen Zs & Millennials aid spiritual & wellness-driven tourism recovery in India

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s losses for the last financial year rose six fold of ₹2384.7 crores. </li><li>The company’s valuation has doubled between September 2018 and October 2019.</li><li>The boost in valuation largely came from the founder buying back shares at an increased price from existing investors.</li></ul>Indian hospitality unicorn OYO, backed by Japanese billionaire Masayoshi Son’s Softbank Vision Fund, is piling up losses. Yet, its valuation continues to soar. A valuation <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbanks-oyo-reveals-over-330-mln-annual-loss-revenue-surges-valuation-report/articleshow/72226878.cms">report</a> sourced on OYO’s financials show that the company has reported a loss of ₹2,384.7 crore, almost six times higher than its losses a year earlier. Meanwhile, its operating revenue grew three-fold to ₹6456.9 crore. Whereas the company’s valuation has doubled to $10 billion between September 2018 and now. The magical boost in valuation came from the $700 million invested by founder and CEO <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> in October 2019. The money went into buying back shares from existing investors at a higher price, boosting the company’s value. As the iconic investor Warren Buffett famously said, “Price is what you pay, value is what you get.” Agarwal definitely got more value out of the transaction than what he paid for. 
 
 
 
 
 
 
 
 
 



















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 A year ago, OYO had raised over $1 billion, led by SoftBank through SoftBank Vision Fund, with participation from existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital and supported by new strategic partners like Airbnb. The piling losses can be attributed to the company’s aggressive expansion to China, South-East Asia, Japan, and then the US. The numbers are alarming for OYO, which <a href="https://inc42.com/buzz/oyo-projects-profitability-by-2022-after-3-9x-higher-losses-in-fy19/">reportedly</a> wants to turn hit profitable by 2022. But the company has gone on the defensive. “These are not the final audited financials and the same will be issued later by the company along with the annual report that we issue every year and file with the RoC as well,” OYO spokesperson told Business Insider. Many <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/after-wework-softbanks-startup-accounting-model-under-fire-oyo-raises-eyebrows/articleshow/72234413.cms">naysayers</a> even predicted a WeWork-like phenomena for SoftBank’s next big celebrated investment – OYO. What started as a hotel room aggregator, OYO has gone on to buy @Leisure Group, an Amsterdam-based vacation rental company, for an estimated $407 million, Hooters Casino in Las Vegas for $135 million, and an 80% stake in Japanese rental apartment operator MDI, along with SoftBank, <a href="https://asia.nikkei.com/Opinion/Oyo-s-business-model-is-looking-a-lot-like-WeWork-s">which reportedly cost over</a> $100 million. Even if the comparison with beleaguered WeWork ⁠— whose valuation had to be written down by $39 billion for Softbank after the founder’s misdeeds came to light ⁠— may seem a bit stretched at this point, investors will do well to remember this warning from Warren Buffet, who said, “ If you buy things you do not need, soon you will have to sell things you need.” See Also: <a href="https://www.businessinsider.in/business/startups/news/oyo-zomato-amazon-and-flipkart-are-in-trouble/articleshow/72235917.cms">Oyo, Zomato, Amazon, and Flipkart are chasing growth but the very foundation is shaking</a> <a href="https://www.businessinsider.in/business/startups/news/saif-partners-investment-thesis-funding-in-unicorn-startups-swiggy-paytm/articleshow/71932586.cms">SAIF Partners invested in Swiggy when they just had a landing page – today they are going after more seed stage startups, here’s why</a>

Bizarre! The more losses Oyo makes, the more valuable it gets

<ul><li>OYO founder <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> was recently booked in a cheating case by a hotel owner in Bengaluru. </li><li>But there have been multiple such incidents across the country. </li><li>In the US too, OYO has been facing similar issues.</li></ul>OYO Hotels &amp; Homes, the Indian unicorn that has gone global seems to be going through a bad time. Founded by Ritesh Agarwal, OYO is on its way to hit its ambitious target of being the world’s largest hotel chain. It helps that they are already South Asia’s largest hotel chain by the number of rooms. OYO also recently launched OYO Partner Engagement Network (OPEN) through which it set up four regional Partner Advisory Councils which “provides a platform to discuss and determine micro and macro issues driving the future of hospitality in India”. Yet the past few months have been turbulent. From multiple FIRs to an uprising from hotel owners, OYO is now dealing with multiple cases. Cheating case against Agarwal and others Recently, a Bengaluru <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/cheating-case-against-oyo-founder-ritesh-agarwal-6-others/articleshow/71905131.cms">hotelier</a> filed a cheating case against Agarwal and six others claiming that the OYO hasn’t paid him his dues. According to the complaint, the hotelier has claimed that OYO was supposed to pay him ₹7 lakh a month for room bookings but failed to do so since May 2019. "Our lawyers are looking into the matter and will be taking strong legal action as these claims are incorrect and defamatory in nature. OYO Hotels &amp; Homes will initiate appropriate criminal proceedings against the Bengaluru owner who is sensationalising a civil dispute to attract attention. On studying a similar matter where an FIR was wrongfully filed in September, the honourable Karnataka High Court recently stayed the adverse actions via an injunction in Bengaluru. We, therefore, have strong reasons to repose our faith in the justice system," said a statement from OYO. OYO also claims to have an annual retention as high as 99.5% across the chain in India &amp; South Asia. Incidents at OYO Hotels Recently, a national level shooter was found dead in an OYO hotel reportedly due to electrocution. On the other hand, an employee in a Gurugram-based OYO hotel was also accused of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/electrocution-case-oyo-says-it-is-cooperating-with-police-authorities/articleshow/71607725.cms">raping</a> a guest. In both cases, OYO has said that it is working with the authorities and helping with the investigation. Hotel owners’ rising rage Hotel partners have been raising their concerns about OYO for quite some time now, with some even calling it the <a href="https://www.firstpost.com/business/hotel-operators-who-partnered-with-oyo-call-it-biggest-online-fraud-demand-criminal-probe-against-softbank-backed-startup-7462021.html">‘biggest online fraud’.</a> Multiple protests have also been organised by hoteliers against OYO across the country. Most of the protests have been about clearance of dues. Another point <a href="https://www.businesstoday.in/current/corporate/as-softbank-oyo-booms-over-10000-hotels-cry-foul-and-check-out/story/383337.html">raised by hotel owners</a> has been that while OYO charges 20% franchise fee on room revenues, it ultimately takes more money through different sources that aren’t disclosed initially. Trouble in America too OYO, after having had a great run in China, also expanded to the US. It has even taken over a Hooters hotel in Las Vegas and rebranded it to be an OYO hotel. US-based media outlet <a href="https://skift.com/2019/10/24/budget-chain-oyo-can-be-a-nightmare-for-u-s-hotel-operators-despite-its-hype/">Skift</a> has reported that several hotel owners complained that OYO’s partner management system didn’t work properly along with non payment of dues. CCI investigation MakeMyTrip and Oyo’s commercial agreement is being investigated by the Competition Commission of India. The alleged dominance that they would enjoy is now under scanner. And prima facie, MakeMyTrip is identified as ‘dominant’ in the online travel market while OYO holds the same position in the hotels market. The joint effect of their partnership could alter the way the market operates. “OYO has been prima facie found to be a significant player in the ‘market for franchising services for budget hotels in India,” said the report. See Also: <a href="https://www.businessinsider.in/business/startups/news/why-makemytrip-and-oyo-are-in-trouble-with-the-cci/articleshow/71818051.cms">MakeMyTrip and Oyo are in trouble with the CCI, opening up a gray area for business partnerships in India</a>

You Searched For "OYO Hotels Homes" and got 13 results

At ₹100 crore, OYO posts FY24 as maiden profitable fiscal: Founder

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Over 8.5 million new user bookings were made on the OYO app and website in 2020: Rohit Kapoor

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OYO's Singapore arm secures $200 million loan from SoftBank

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The holy trinity of communications: A guide to a cohesive internal, external and social media strategy in the next normal

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OYO’s ‘Hockey’ print campaign is winning the internet; there’s a lot more in store, says its head of global brand Mayur Hola

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OYO's valuation climbs again — hits $9 billion after its latest fundraise of $7 million

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Marketing: Trends to watch out for in 2021

Karuna Sharma

Indians are travelling again! OYO saw a 72% surge in bookings for destinations like Jaipur, Goa and Kochi during the long weekend

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Don't moment-market this crisis; there's a special place in communication and marketing hell reserved for that: Mayur Hola of OYO

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Rohit Kapoor of OYO hotels and homes on India’s favourite travel hotspots and trends to be expected in 2021

Business Insider India

Gen Zs & Millennials aid spiritual & wellness-driven tourism recovery in India

Srishti Magan

Bizarre! The more losses Oyo makes, the more valuable it gets

Sanchita Dash

Dues, death and an investigation — all that went wrong with OYO hotels in the last 6 months

Sanchita Dash

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