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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

Softbank-backed <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword> is set to refile its much-awaited <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said. JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said. In preparation for the refinancing, OYO has already moved its application with markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="153" meta.entityid="SEBI">SEBI</keyword> to withdraw its current draft red herring prospectus (<keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword>). The company intends to refile an updated version of the DRHP, after the bond issuance. Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback involved repurchasing 30 per cent of its outstanding Term Loan B of USD 660 million. The move brought down its outstanding loan amount to around USD 450 million. A source closely involved in the company's IPO plans told PTI, "The refinancing will result in material changes to OYO's financial statements. Hence as per existing regulations, it will need to revise its filings with the regulator". "Since the decision for refinancing is at an advanced stage, it doesn't make sense to continue pursuing IPO approval with the current financials. So it's prudent to withdraw the current application," he added. The refinancing will extend the repayment timeline to five years -- versus the repayment of the remaining TLB due in 2026 -- the source said. The bond issuance would significantly lower the current effective interest rate of 14 per cent on its existing USD 450 million Term Loan B (TLB) facility. "The refinancing is expected to result in annual interest savings of USD 8-10 million (Rs 66.4-83 crore) in the first year, after accounting for the costs associated with the bond issuance. The company anticipates annual savings of USD 15-17 million (Rs 124.5 -141.1 crore) thereafter, almost all of which would get added to its net profits. Post the debt refinancing, the company is open to contemplating an equity round, to reaffirm investor confidence before a public listing to fortify its financial strength," the source said. In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO. The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 4-6 billion instead of the USD 11 billion it was targeting initially. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

OYO withdraws DRHP, to refile IPO post refinancing: Sources

<ul><li>Following the successful response to its recent brand films #AisiReachGaye and ‘Kalki Kal Dekhenge,’ OYO recently launched a new advertisement with Chitrangada Singh and Kunal Kapoor.</li><li>In the ad, Kapoor loses a bet to Chitrangada and plays golf while wearing a ghagra.</li><li>This unique set of ads from OYO has generated a lot of chatter on social media and has sparked a meme fest.</li><li>We speak to Mayur Hola - Head of Global Brand, OYO and Kavikrut, Chief Growth Officer, OYO about the latest campaign, its target audience and timing.</li></ul>At a time when hospitality brands are observing a silent period, OYO rolled out a multi-film 360-degree campaign with Gul Panag, Kalki Koechlin, Chitrangada Singh and Kunal Kapoor. It was during the peak of COVID that OYO aired its first advertisement during the India VS South Africa ODI match. While it was a risky bet for the brand, especially before its upcoming IPO, to talk about travel without really propagating travelling, OYO’s new campaign has still won many hearts and has also organically trended on Twitter thrice for all of its ads. Last year in December, OYO saw its <a href="https://twitter.com/riteshagar/status/1479737071719759875">busiest month</a> as over a million people booked rooms with the brand for the New Year’s long weekend. We asked OYO whether this campaign was planned for December and delayed due to the sudden surge in cases, Kavikrut, Chief Growth Officer, OYO said no, it felt like the right time now. Explaining why OYO chose January to roll their campaign out, he said, “December was one of the highest travel peaks for India and yet, that's not when you saw this campaign. You're seeing this campaign at a time when you're stuck at home, and you're thinking about being out there either for travel, leisure or for business. You're thinking about where else I could be? And it's at that point of time, we want there to be a recall and memory of OYO in their minds and for what could it be? That's when you zoom back into the features and say, it could be anywhere which is nearby, Assi Reach Gaye ad is about that; you don't need to reach anywhere, you could just stay here. We felt like this is a good time to just put them out there. People will love the films irrespective of the time we are in.” As the whole country relives 2020 and people are stuck at home yet again, they have the space and time to watch new content and absorb it. Mayur Hola - Head of Global Brand, OYO added that any consideration campaign needs to start a little bit ahead of when you want the customer to act, particularly when you decide that the consideration you seek is from a newer audience. “So our intent to do it now is to be a little ahead of the game and not just advertise when things open up and people have already made plans. And a lot of audiences today react spontaneously. Consideration takes a little more time, hence, the need for the campaign that we planned. I don't think anything else plays a role at all in our choice of timing. This is simply consideration and perception that we would focus on and are giving it the time it needs to bed in,” explained Hola. OYO’s first advertisement of 2022, ‘Assi reach gaye’ featured Gul Panag and an adorable kid who stole all the attention. The film showcases how a kid, who hasn’t had a chance to travel due to the pandemic, would react on a long road trip. It takes you through many stages of his journey, starting with the child enjoying the views of the scenic hills, turning to boredom and finally to restlessness after spending hours in the car. Hereon, the film captures the many quirks of a now impatient 4-year-old child, who incessantly nudges his mom from the backseat and asks, “Assi reach gaye?” With over 4000 tweets, this ad trended on number 2 on Twitter. <div type="Youtube" id="ZK7WgxuO6X8" title="Assi Reach Gaye | OYO Rooms Official" thumbUrl="https://i.ytimg.com/vi/ZK7WgxuO6X8/mqdefault.jpg"></div> It is for the first time that the relatively young hospitality brand OYO is targeting Indian families with a huge media splash. Hola mentioned that OYO has seen some very unique use cases, which inspired its latest campaign to some extent, and realised that while the brand has a young perception in the market, it is used by audiences across age groups. Sharing a few examples, he said, “We live in small homes across the country and people sometimes just don't have the space to fight. So on the surface, you have a couple checking into a room but really they're going in there to squabble because they can’t scream at each other at home. I know that feeling. We have unique use cases of people taking a pitstop, studying, spending the night after a party, which is a big one for us; people just found it safer to check into a room nearby wherever they've been partying and not take a long ride by cab back home. So, we're trying to talk about the various audiences who own us already, and reach out to even further audiences, in terms of families and so on. In one way, it is reflective of usage already and in another way, we want to add more to that pool.” Following the successful response to its brand films ‘Assi Reach Gaye’ and ‘<a href="https://youtu.be/ZWt_6msbML0">Kalki Kal Dekhenge,</a>’ OYO released a third ad film last week featuring Chitrangada Singh and Kunal Kapoor. With this film, OYO highlights its app’s ‘search the view’ feature which enables people to discover stays with a view they would like. In the ad, Kunal loses a bet to Chitrangada and plays golf while wearing a ghagra. Within a few hours, this film also trended on Twitter on number three with more than 5,500 tweets. The idea behind these ads, Hola said, is to put OYO’s app at the heart of everything. It promotes different features that the app offers. It will be seen in multiple channels across GEC, News, Infotainment and the Kids genre. It will also promote the first film across its owned PR channels.

OYO is now targeting families through its communications to ring in its next phase of growth

Hospitality and travel-tech firm <keyword id="2808667" type="General" weightage="100" keywordseo="oyo" source="Orion">OYO</keyword> on Monday said it will onboard and add 300 hill station hotels to its portfolio by August 2023 to cash in on the summer vacation rush. In north India, the new hotels will be in places such as Manali, <keyword id="193753" type="General" weightage="50" keywordseo="mussoorie" source="Orion">Mussoorie</keyword>, <keyword id="76016" type="General" weightage="50" keywordseo="nainital" source="Orion">Nainital</keyword>, Srinagar, Shimla, Dalhousie, and Haridwar while in the South, it will be Ooty, Munnar, and Kodaikanal, the company said in a statement. Gangtok, Darjeeling, and <keyword id="57704" type="General" weightage="50" keywordseo="shillong" source="Orion">Shillong</keyword> in the East; and <keyword id="6378734" type="General" weightage="50" keywordseo="lonavala" source="Orion">Lonavala</keyword> and Mahabaleshwar in the West will also see new OYO hotels, it added. The company is witnessing a surge in demand for hill stations and the trend will continue throughout the next three months, an OYO spokesperson said. "With our expansion across key hill stations in India, we aim to provide a wide range of options for travellers, while also contributing to the growth of domestic tourism," the spokesperson added. In addition to expansion across hill destinations, OYO is also aiming to add 1,800 new hotels to its portfolio in 2023 as part of its ongoing bid for premiumisation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mumbai-flat-sizes-have-shrunk-20-in-past-five-years-but-other-metros-show-improvement/articleshow/100932947.cms">Mumbai flat sizes have shrunk 20% in past five years but other metros show improvement</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/kili-and-neema-paul-the-tanzanian-tiktok-siblings-winning-indian-hearts/slidelist/100932281.cms">Meet Kili and Neema Paul, the Tanzanian Tiktok siblings winning Indian hearts</a>

OYO to bring on board 300 hill station hotels by August

<keyword id="125045" type="General" weightage="50" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword> on Wednesday said it has revised the outlook on <keyword id="2981241" type="General" weightage="50" keywordseo="oravel-stays" source="Orion">Oravel Stays</keyword> Ltd's (<keyword id="2808667" type="General" weightage="100" keywordseo="oyo" source="Orion">OYO</keyword>) long-term foreign- and local-currency issuer default ratings to 'positive' from 'stable', while affirming the ratings at 'B-'. The ratings agency also said it has affirmed the rating on the USD 660-million senior secured term loan facility due 2026, issued by OYO's fully owned subsidiary, Oravel Stays Singapore Pte Limited, at 'B-'. "The outlook revision reflects our view that OYO is on track to generate positive EBITDA and cash flow from operations (CFO) sustainably. This follows positive EBITDA in every quarter of the financial year ended March 2023 (FY23), which is the first year of profits since OYO's incorporation in 2012," <keyword id="82981" type="General" weightage="80" keywordseo="fitch" source="Orion">Fitch</keyword> Ratings said in a statement. It further said, "We expect significant growth in its EBITDA in FY24, led by an ongoing demand recovery in the travel and tourism industry, the company's stable gross margins, and reduction in operating costs." The rating reflects OYO's asset-light business model "that benefits from minimal capex needs, largely exclusive distribution rights, pricing control over storefront inventory, fixed revenue share and strong long-term growth potential", it added. "The business profile's strengths are mitigated by the sector's high competitive intensity and demand cyclicality. The rating also reflects OYO's adequate liquidity," Fitch said. The ongoing demand recovery in the industry is expected to drive revenue growth of over 20 per cent, it said, adding, "we also expect OYO's operating leverage to benefit from a sustained reduction in costs and drive high single-digit EBITDA margins in FY24." On improved cost structure, Fitch said, "We expect the cost-reduction measures OYO undertook in recent years to support its improving profitability in FY24. We believe such reductions will not affect growth, as it has increased its business development staff to prioritise storefront additions." The ratings agency also said it estimates that "OYO's unrestricted cash at FYE23 is sufficient to fund its Fitch-estimated free cash flow deficit of around USD 7 million and annual debt repayment of around USD 6 million in FY24". However, it said, "a greater cash burn than we expect could weaken OYO's liquidity. Any potential default of the debt outstanding at one of OYO's shareholding entities owned by the founder may be a reputational risk and affect OYO's operations, and we treat this as an event risk." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/suvs-car-with-the-longest-waiting-period-in-india/slidelist/100649287.cms">Mahindra Thar, Tata Nexon and more: SUVs with the longest waiting period</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/centres-fiscal-deficit-for-2022-23-at-6-4-of-gdp-cga-data/articleshow/100649200.cms">Centre's fiscal deficit for 2022-23 at 6.4% of GDP: CGA data</a>

Fitch Ratings revises outlook on OYO's long-term issuer ratings to 'positive' from 'stable'

<ul><li>Often Valentine’s Day is associated with the young, and love is marketed and celebrated as a young person’s thing. </li><li>We have developed an ageist perspective towards love, believing that one loses the ability to express and celebrate love as one grows older. </li><li>Breaking these stereotypes, OYO’s Valentine’s Day campaign stood out in the clutter of puppy love this year. </li><li>We caught up with Mayur Hola, Head of Global Brand - OYO Hotels &amp; Homes to understand what encouraged the brand to feature a mid-age couple, the process of its casting, and discussed why Indian brands have been neglecting people in their mid-age while celebrating love. </li></ul>Imagine a cafe and a young couple on a date. You see a bunch of roses in the background, chocolate heart-shaped boxes on the table and the guy proposes. You don’t need to try too hard because that’s basically the template Indian advertisements have been following for their Valentine’s Day ads for years. We are seeing more representation of LGBTQ couples, intercaste marriages, live-in couples, young women taking charge but rarely do we see women in their late 40s or older, falling in love all over again or sharing a romantic moment with their partner in public. Often Valentine’s Day is associated with young people, and the idea of love is marketed and celebrated as something that’s mushy, young and sweet. We don’t often get to see mid-age couples on dates or in any romantic settings. Even in mainstream cinema and pop-culture, it is only now that we have movies like Once Again and Badhaai Ho with mid-age actors as their protagonist and ads like <a href="https://www.businessinsider.in/advertising/brands/article/colgates-endearing-campaign-encourages-people-to-stop-worrying-about-whatll-people-think-and-just-follow-their-hearts/articleshow/77782264.cms">Colgate's</a> Remarriage. These movies and ads have nudged us to reconsider our attitude towards love. However, an old couple still in love or mid-age people falling in love is still treated as a different conversation - just as talking about LGBTQ+ is only remembered during pride month, it doesn't fit into the larger umbrella of love yet. With this, we have developed an ageist and limited perspective towards love, believing that one loses the ability to express and celebrate love as one grows older. So, we were pleasantly surprised when we saw a young hospitality brand, OYO, take a different route this Valentine’s. Its Valentine’s Day campaign is about a mid-age couple who is loyal to OYO and has a rather mature idea of love. Featuring a brilliant cast comprising <keyword id="1813" type="PERSON" weightage="20" keywordseo="neena-gupta">Neena Gupta</keyword> and <keyword id="21050" type="PERSON" weightage="20" keywordseo="Swanand-Kirkire">Swanand Kirkire</keyword>, the campaign celebrates the spark that keeps long-term relationships alive. Titled ‘Long-term relationship with OYO,’ it is a 4-film digital campaign. In the first film, the protagonists engage in playful bickering. Kirkire asks Gupta why she sticks to choosing the same hotel and room every time they travel. Gupta replies with another question ‘I am not bored, are you?’ subtly hinting at their long-lasting relationship. It is those adorable glances at the end between Gupta and Kirkire that stole our hearts and the sound of a playful tune of ‘Yeh Rishta Hai Thoda Khiska’ acts as a cherry on top. <div type="twitter" handle="oyorooms" handlename="OYO" image="http://pbs.twimg.com/profile_images/1336945719781945344/WyBChLdY_normal.jpg" favoritecount="25" retweetcount="5" status="Relationships are in a long term relationship with #OYO. Just like these two cuties.#YeRishtaHaiKhiska… https://t.co/xWLBtbH6qT" createdat="1612536531000" id="1357702732744806400"></div> The campaign is supported with social media posts and emailers. Each post brings in a pragmatic perspective and reminds the audience that love is not all mush, it is a little complicated. For example, OYO dropped a truth bomb on Teddy Bear Day saying that women don’t play with teddy bears anymore. The copy read, “Dear adarsh balak, sasta ho ya mehenga, she stopped playing with teddy bears when she was 10. This is un-bear-able. Love, Neena.” <div type="twitter" handle="oyorooms" handlename="OYO" image="http://pbs.twimg.com/profile_images/1336945719781945344/WyBChLdY_normal.jpg" favoritecount="11" retweetcount="0" status="Agli baar emoji se bhi kaam chal jayega 🧸🐻 Teddy was my chuddy buddy, buddy. #TeddyDay #YeRishtaHaiKhiska… https://t.co/UWOFyqMxGt" createdat="1612935766000" id="1359377248172732416"></div> Another realistic comment was on Chocolate Day, advising people to avoid cliches and not give heart-shaped Chocolate boxes to your loved ones because it is less chocolates, more air and lacks utility purpose. <div type="twitter" handle="oyorooms" handlename="OYO" image="http://pbs.twimg.com/profile_images/1336945719781945344/WyBChLdY_normal.jpg" favoritecount="24" retweetcount="1" status="Avoid cliches, swaad anusar 🍫@Neenagupta001 #ChocolateDay #YeRishtaHaiKhiska #Valentinesweek https://t.co/jTD19oGZ22" createdat="1612847985000" id="1359009068547903489"></div> On a day when brands neglect mid-age people, OYO has broken many stereotypes but it did not intend to make a statement by onboarding a mid-age protagonist, it all happened organically. Moreover, Gupta and Kirkire were the brand's first choice. Mayur Hola, Head of Global Brand - OYO Hotels &amp; Homes said, “The best movies, the ones that leave a lasting impression on you, come from stories and faces that are lined with age and character. That's really where great cinema emerges from. Advertising sometimes tends to feature bright shiny objects. I'm not just talking about human beings, even food. So the food you see in ads, you don't necessarily see in real life. We have sculpted bodies, perfect faces, etc. OYO might feature young faces from time to time as well, but we just felt these stories were better told by a couple who are ageless. Time has no relevance to the stories we are telling. It could be anyone, anywhere. We know that we are talking to such a varied audience as ours. We know that the lead protagonist needs to have a certain amount of chutzpah as well as stature. So yeah, we decided let's go get an actor not lower in age because sure, puppy love is awesome but I think we have a winner here in Neena.” While we still continue to fight with a global pandemic, OYO aims to remind you with this campaign that some familiarity is comforting and gain its consumers' trust. After conducting a consumer research and chatting with a few of them one-on-one, OYO found that that in eight out of 10 cases, women drive the conversation and take the final decision around travel. It also highlighted consumers who visit OYO once, they tend to go back to the same hotel. And this insight fueled the idea and gave birth to <a href="https://www.youtube.com/hashtag/yerishtahaikhiska">#YeRishtaHaiKhiska</a>. The first ad currently boasts 2,322,307 views. Telling how the brand stumbled upon this idea of celebrating long-lasting relationships, Hola said, “The starting point of any campaign for us is inclusivity. We’re a mass brand that is adopted by so many diverse sets of people; SMEs / corporate travellers, leisure travellers, couples, among others. This is an inclusive campaign that speaks to all, rather than an old vs young one. Secondly, over time our core customers see a very high repeat rate. To the same location and the same property. Our guests are literally in a long term relationship with OYO. Additionally when we spoke 1:1, woman to woman with a lot of our women guests we came across the fact that women were the key decision-makers when it came to booking a getaway, holiday, or vacation. So join the dots and the campaign comes together. Inclusion, relationships, consideration amongst women in particular.” Both, the concept of the campaign and script of the films were written by OYO’s in-house global brand team, with support from Oink Films on production. Hola said the brand aims to woo female audiences with its Valentine’s campaign. “We’re expecting greater consideration overall. And in general, likeability because this is just such a charming campaign. I think we don't necessarily need to feature your audience in your communication for them to like it. So in terms of interests and mindset, couples will relate with it, no matter what age group they are. I do think one of the intentions is to have greater likeability and affiliation with a female group. And I feel sure we’ll see that happen,” shared Hola. OYO will roll out a unified view across 45+ OTTs and apps programmatically. This includes platforms such as Inshorts, Sharechat, OTT platforms (Hotstar, MX Player, Sony Liv, Voot), music streaming apps (Gaana, Spotify, JioSaavn,) and dating apps (Tinder, Bumble, OkCupid). It will further amplify the films through an influencer campaign based on the theme #RishtaThodaKhiskaHai via a mix of celebrity and lifestyle influencers such as Smriti Khanna, Meeth Miri, Natasha Singh, and Siddhi MahaJankati, among others. As a brand that caters to a large audience, OYO is also making a conscious effort to be more inclusive in their advertising and marketing campaigns. On whether we will see more sections and communities of our societies in OYO’s campaign, Hola said, “Absolutely, We’re a brand that is adopted by the world’s middle class. And we will look to do work that appeals to a large mass.”

OYO’s Valentine’s Day campaign with Neena Gupta and Swanand Kirkire stands out in the clutter of mushy, young love

Tech giant <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword> and travel technology platform <keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> on Thursday announced that they have entered a multi-year strategic alliance to co-develop next generation travel and hospitality products and technologies. OYO will adopt <keyword id="1033762" type="General" weightage="20" keywordseo="Microsoft-Azure" source="Orion">Microsoft Azure</keyword> as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry. The solutions will be geared to benefit patrons who operate small and medium hotel and home storefronts. Microsoft has also made a strategic equity investment in OYO. "Combining the power of Azure with the tech and product stack developed by OYO, we are looking forward to accelerating innovation in travel and hospitality," Anant Maheshwari, President, Microsoft <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, said in a statement. As part of this alliance, OYO will develop Smart Room experiences for travellers on the OYO platform, such as premium and customized in-room experiences for its guests. Using Microsoft's Azure IoT, the experience will include self-check-in supported by a digital register of arrivals and departures and self-Know Your Customer (KYC) along with IoT-managed smart locks and virtual assistance. "We are excited to join hands with Microsoft in our constant endeavour to improve business opportunities for the small and independent hotel and home owners, and to redefine experiences for travellers," said Abhinav Sinha, Global COO and Chief Product Officer - OYO Hotels and Homes. "This alliance with Microsoft will accelerate the deployment of our products in the hands of small businesses we work with, allowing us to create even more impact through an integrated technology ecosystem available on the cloud for businesses in the remotest corners of the world," Sinha added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ford-motor-to-stop-manufacturing-cars-in-india-4000-employees-may-lose-jobs/articleshow/86065322.cms">Ford Motor to stop manufacturing cars in India; 4,000 employees may lose jobs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/amazon-vs-future-retail-supreme-court-stays-delhi-high-courts-verdict-enforcement/articleshow/86064426.cms">Amazon Vs Future Retail: Supreme court stays Delhi High Court's verdict enforcement</a>

Microsoft announces strategic investment in OYO

<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

<ul><li>In just four months since its formal entry in the US, Oyo said that it has 100 <keyword id="6368036" type="UNKNOWN" weightage="20" keywordseo="hotels">hotels</keyword> in the market. </li><li>Oyo is present in over 60 cities including Dallas, Las Vegas, Houston, Los Angeles, Seattle, Atlanta and Miami. </li><li>It is already the largest hotel chain in China in terms of rooms.</li></ul>Oyo Hotels &amp; Homes said that it now has 100 hotels in the US. The company entered the US market in June 2019, and scaled its operations in just over four months. It is present in over 60 cities in the US including Dallas, Las Vegas, Houston, Los Angeles, Seattle, Atlanta and Miami. It is adding one building per day, the company says. It had earlier said that it will be investing $300 million into the market. “The US is a key home-market of us given the huge potential. While we continue to transform buildings across the country, we want to stay true to our philosophy that everyone, every day should be #LivingTheGoodLife. We do this by offering good quality ‘value-chic’ accommodations, with great ratings at unique price points,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, founder, Oyo. The $5 billion company already has the largest network of hotels and rooms in South Asia. It is also the largest hotel chain in China in terms of rooms. Recently, OYO had opened a 35,000 square-foot casino in Las Vegas called OYO Hotel &amp; Casin. The property, which was earlier a Hooters hotel, has 657 rooms across nineteen floors.

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Microsoft announces strategic investment in OYO

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