OYO records 64% YOY growth in New Year’s Evebookings in GCC Countries

• OYO hotels and homestays in United Arab Emirates, Saudi Arabia and Oman record 64% YOY growth in New Year’s Eve bookings
• Growth can be attributed to the strategic locations of OYO’s corporate housings and homestays, their relentless dedication to ensuring guest satisfaction, offering a seamless blend of comfort, affordability, and personalized services
• OYO Oman contributed the most towards the growth with 244% YOY increase in hotel bookings followed by Saudi Arabia and United Arab Emirates with 59% and 31% growth respectively

Dubai, January 11, 2024: Global hospitality technology company OYO has announced 64% year on year growth in New Year’s Eve bookings across the GCC (Gulf Cooperation Council) countries. From bustling urban hubs to serene getaways, guests flocked to OYO homes, apartments, corporate housings and hotels to experience unparalleled hospitality, curated experiences, and tailored New Year’s packages.

OYO hotels and homestays in Oman emerged as the top performer for New Year’s Eve bookings in 2023 with 244% YOY growth followed by Saudi Arabia with 59% and United Arab Emirates with 31% growth.

The growth can be attributed to the luxurious and strategic locations of more than 300 serviced apartments and homes at all major destinations in Dubai, Ras al-Khaimah, Sharjah, and Abu Dhabi. Siniya Island Resorts, a luxurious property in Dubai, was one of the most preferred destinations for new year celebrations.

OYO has also partnered with corporates such as PwC, ⁠Damac, Careem, Landmark Group, ⁠Site Technology Limited and many others for short term rentals and full year long term rentals in Dubai and Abu Dhabi. As part of this partnership, OYOprovidesaccommodation in fully furnished apartments with exclusive amenities such asround-the-clock security and on-the-call assistance etc.

In United Arab Emirates, OYO has more than 25 hotels with brands such as Smart and Capital O. It has become a favorite place for people to celebrate New Year’s Eve for its unique attractions such as fireworks at Burj Khalifa in Dubai and laser display and entertaining performances at Sheikh Zayed Festival in Abu Dhabi.

OYO also offered upto 60% discount across OYO properties for Indian tourists planning to celebrate New Year in in Dubai. OYO has a network of over 130 properties including OYO Smart and OYO Homes in Dubai in key regions such as Marina, Business Bay, Jabel Ali, Sports City and Discovery Garden. Most of these properties offer a combination of modern-day luxury for families and groups looking to unwind and relax at premium stays for affordable prices. 

This has reaffirmed OYO’s standing as the preferred choice of stay for travelers welcoming the new year in GCC countries.

In addition to this, OYO has a network of 750+ apartments in Abu Dhabi to help the global start up ecosystem setting up their base in the emirates. OYO also has a network of more than 30 hotels in Oman with brands such as Smart, Capital O and OYO Townhouse.

OYO has more than 40 hotels in Saudi Arabia in popular tourist destinations such as Riyadh, Jeddah, Mecca, Al Ahsa, Abha and Khobar. Ministry of Municipal, Rural Affairs and Housing (MOMRA) has approved OYO as one of the private entities for the audits of housing properties managed by private organisations and individuals.

Speaking on the development, Ankit Tandon, Global Chief Business Officer and CEO Southeast Asia and Middle East, OYO said “As Gulf Cooperation Council countries continue to captivate global travelers with their rich culture, breathtaking landscapes, and warm hospitality, OYOremains committed to elevating guest experiences and further establishing its presence in this dynamic market.As OYO continues its expansion in the GCC in 2024, travelers can look forward to more accessible, comfortable, and enjoyable stays across the region”.

OYO’s website and app offer accessibility to OYO’s hotels at competitive prices, quality accommodation, ease of use of OYO app, personalization, and flexibility of the OYO platform. Guests can also resolve their queries quickly with OYO’s 24*7 chatbot – Yo! Chat. OYO also helps ensure great experience for guests, with automated tools such as AI chatbots to quickly resolve customer queries, loyalty programs and easy refunds when needed.

About OYO

OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visitwww.oyorooms.com.

Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”).

The DRHP is available on the website of SEBI atwww.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited atwww.bseindia.com andwww.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited atwww.investmentbank.kotak.com,www.jpmipl.com andwww.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited atwww.icicisecurities.com,www.nomuraholdings.com/company/group/asia/india/index.html,www.jmfl.com andwww.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.