The company said it also plans to add over 100 first generation hoteliers operating these hotels across India.
Oyo said its Accelerator Programme is aimed at encouraging and empowering first generation hoteliers to accelerate their hotel portfolio expansion as travel surges in both business and leisure cities.
The company said it is also offering financial assistance to facilitate expansion in new markets, and has already extended support worth Rs 10 crore.
Hoteliers who participated in this programme recorded approximately 20% increase in revenue in three months.
The Accelerator Programme was launched in March this year with a stated target supporting 50 first generation hoteliers. Oyo said it has already added more than 300 hotels operated by 30 hoteliers since the announcement of the plan, which is higher than the initial target of adding 200 properties in the first phase of the programme.
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Delhi NCR is a major contributor, accounting for 40% of hotels, followed by Hyderabad and Bengaluru which together added 40% of hotels to the programme. The rest of the growth came from other parts of India, the company said.
Hotel owners with more than five running hotels are eligible to be a part of the Accelerator Programme.
Oyo said under this programme, it is also helping them achieve long-term profitability and increase earnings by offering them mentorship, access to technology, relationship managers, financial support, and access to Oyo’s network of over 15,000 corporate accounts and more than 10,000 travel agents across India boost business prospects.
Anuj Tejpal, chief merchant officer at Oyo said since the unveiling of its Accelerator Programme, the company has been actively engaging with its hotel partners to gather their insights, concerns, and suggestions.
“Their enthusiasm and willingness to embrace expansion of their hotel portfolio have reinforced our belief that we are on the right path to achieving our goals,” he added.
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