Global hospitality platform OYO has launched an accelerator program for small first-generation hoteliers in its community.
Hotel owners with more than five running hotels are eligible for this program. OYO plans to strengthen its network of hoteliers by giving these hoteliers additional benefits to expand their business and start operating multiple hotels across India. The company will initially aim to add 30 hoteliers to the accelerator program.
The OYO accelerator will provide mentoring, access to the company’s technology and corporate and leisure distribution network and financial support.
OYO says the accelerator is also in line with its strategy to increase its presence in India’s premium hotels segment with a particular focus on Bangalore, Hyderabad, Delhi, Mumbai and Kolkata in 2023. OYO aims to increase the number of premium hotels under its brands such as Townhouse Oak, OYO Townhouse, Collection O, and Capital O.
The company said in February that it wanted to double the premium brand hotels in its portfolio in 2022 through the addition of 1,800 properties.
Anuj Tejpal, chief merchant officer of OYO, says, “We come across many hoteliers whose aspiration for growth and their business acumen far exceeds the capital and resources available to them. OYO had tried to support their growth in the past in whatever manner we could. However, we realized that we will be able to encourage many more such hoteliers if we provide special focus to this initiative and move in a planned and targeted manner to help many more such small entrepreneurs.”
