It has been 20 months since OYO entered the Chinese market. During these 20 months, the news about the entrepreneurial star has been highly anticipated.
On the one hand, there is the capital market’s all-out betting – OYO, which has been established for 6 years, has received a total of nearly 2 billion US dollars in financing, of which Japan’s Softbank has continued to lead four rounds of investment. On the other side, there are many negative news such as data fraud, OTA blocking, financial breakdown, contract renewal dilemma, etc. that have been exposed.
The rapidly expanding OYO hotels around the world are facing constant attention and controversy, which makes people worry about the development of OYO in the Chinese market.
OYO, which subverted the low-end hotel stock market in India, has developed in China
Established in 2013, OYO is now the largest budget hotel reservation platform in India. As the "first brother of the Indian hotel chain", OYO has phone number list only 6 years to become the world's third largest economic hotel chain. All this, at first benefited from the "non-standard" of the Indian hotel market.
Low-end hotels in India are very scattered, with various brands, dirty, messy, and poor environments, and lack of standardized products and services. At the same time, there is a single channel for customer acquisition, and the online booking rate is less than 3%. These individual hotels lack online operation management and are still in a very traditional stage of development, and individual hotels do not have the strength and foundation to develop an Internet platform.
Based on this, OYO focuses its target market on the integration of low-end hotels. As long as the hotel meets a certain number of rooms, it does not need to change its name, but only needs to add the OYO logo before the store name to join. After joining, not only can you get financial support such as decoration subsidies provided by OYO, but you can also use OYO's APP and OTA platform to attract customers.