- OYO added 70 new live hotels in Malaysia from January-June 2023 in Malaysia
- These hotels recorded average 60% growth on revenue in July-December 2023 period as compared to January-June 2023 period
- Apart from key regions such as Kuala Lumpur, Malacca, Kota Kinabalu, OYO expanded its footprints in upcoming tourist destinations like Marang, Tambunan etc.
- Growth can be attributed to increased number of partnerships with additional online booking platforms and investment in technology upgradation to boost bookings that convert in stays
Global hospitality technology company OYO has announced that its hotels in Malaysia have recorded 60% revenue growth in the second half of 2023 in comparison to the preceding six months. OYO added 70 hotels in Malaysia from the January-June 2023 period, these hotels recorded average 60% growth on revenue in July-December 2023 period as compared to January-June 2023 period.
These hotels are in some of the most prominent tourist centers in Malaysia that include Kuala Lumpur, Malacca, Kota Kinabalu. As part of its ongoing expansion program, OYO also added hotels and homestays in upcoming tourist destinations such as Marang and Tambunan etc.
The growth can be attributed to strategic partnerships with prominent online travel agents. The seamless booking experience facilitated by OYO technology has played a key role in enhancing customer satisfaction and driving increased bookings. The collaboration has not only boosted OYO's market presence but has also significantly expanded its reach to a broader audience. In addition to this, partnership with new online travel agents helped increase the number of Chinese tourists staying in OYO hotels in Malaysia.
OYO’s recent investments in technological upgrades also played a key role in revenue growth. OYO booking platform booking platforms now offers a more intuitive and user-friendly interface, making the reservation process quicker and more efficient. OYO also provides personalised recommendations based on guests' preferences using cutting-edge technology. These technological investments are not just about facilitating bookings; they are about transforming reservations into memorable and hassle-free stays.
In addition to this, OYO also offered an exclusive self-funded scheme designed to protect revenue and margins of hotel partners while ensuring guests benefit from attractive pricing options.
Elaborating on the revenue growth, Akshay Rathod, Country Head, OYO Malaysia said “Our commitment extends beyond providing comfortable accommodations; we are actively investing in initiatives that contribute to the local economy, support local businesses, and create employment opportunities. OYO is dedicated to fostering partnerships with local hoteliers and help enrich the overall guest experience with the distinct flavors of Malaysian hospitality”.
Jason, owner, Hotel Ventura said “We joined OYO in April 2021, 2023, and the second half of 2023 turned out to be a period of significant growth for our hotel. We have seen a surge in bookings, and the positive feedback from our guests has been truly gratifying. It is a testament to the collective effort of our staff and the effectiveness of OYO's platform in connecting us with guests from all around the world specially from China and India”.
OYO currently has more than 500 hotels across 50 cities in Malaysia. OYO's extensive presence in Malaysia, with properties across major cities and popular destinations with multiple brands of hotels in such as Capital O in premium category and OYO Rooms in budget category.
OYO has also intensified its efforts to onboard and equip hotels with the latest technological tools, increase their visibility and in turn improve their revenue. The patron facing app, Co-OYO allows the hotels to run and customize promotional offers to help increase occupancy and support revenue maximization.
New hotels get access to OYO’s large customer base through its app and website, boasting 100mn+ downloads globally.
