KuberGrow Team The global travel technology firm OYO has posted a 15% growth in revenues from the UK in 2024 compared to last year. Going against the industry trend, the ADR of the company increased by 2%, whereas the overall industry fell by 2.8%, as per STR. The RevPAR of OYO also increased by 4%, whereas the market fell by 4.5%.
As part of a massive expansion push, OYO will open over 40 premium self-branded hotels in the UK on leasehold basis this fiscal. With 18 added recently, the company will open another 22 in key cities such as London, Birmingham, Manchester, Liverpool, Glasgow, Bristol, Cardiff, and Edinburgh. This follows OYO’s recent foray into the premium segment of the UK with the opening of SUNDAY Lansbury Heritage in Canary Wharf.
OYO data has marked Summer Bank Holiday Weekend (August 24-26) as the busiest booking weekend of the year, with the largest bookings on a single day occurring on August 24th. July saw the most bookings ever.
Looking at the growth, OYO International CEO Gautam Swaroop attributed the success of the company to its dynamic pricing model and AI-driven technology, which have enabled it to surpass rivals. OYO UK Country Head Puneet Yadav also highlighted the need for AI-driven pricing engines and automation to solve industry pain points such as increasing operational expenses and manpower shortages. The self-check-in technology of the company has enabled it to improve guest experience while maximizing efficiency for hoteliers.
OYO draws on its worldwide distribution system to create bookings with over 200 of its hotels in 65 cities, a number of which are located in London, Manchester, Birmingham, Cardiff, and Brighton. Its AI-enabled pricing product helps it to capture the best price by taking into account room category, seasonality, and demand variability, leading to consistent revenue growth.
Through customer joy and operation greatness, OYO’s technology-fueled approach is revolutionizing Britain’s hotel industry and creating itself as one of the players in the high-end as well as low-budget segments.
