Oyo is launching the second annual installment of its Patron Prosperity program for its partners.
Last year, after compiling feedback from its patron community, Oyo established its first-ever Patron Prosperity Program—a six-month-long initiative in which the company rolled out new technology features and tools each month to address the needs of its asset owners.
Each new feature made available to asset owners from the 2021 campaign was unique to Oyo and designed to deliver higher occupancy and revenue. The company credits the Smart Pricingv2 Tool, which launched last March with a 93 percent adoption rate, for an estimated 10 percent jump in revenue per available room. Partners who signed up for Oyo's optimization program reportedly witnessed an average increase of 15–25 percent in OTA RevPAR.
Looking back at the last year, Prasun Choudhary president of Oyo Hotels & Homes International, explained the need to continue efforts that support partners and bolster their offerings: "Acknowledging partner concerns and seeking solutions to better support them will always remain a priority and we are proud to reinstate a campaign that will deliver more value for our partners so they can better serve their patrons."
The company is initiating its second patron-focused effort in 2022. A key feature of the Patron Prosperity program is its focus on pain points that require more support. Each quarter throughout 2022, Oyo will roll out new programs and tech offerings that support four target objectives:
- Revenue growth
- Freedom and flexibility
- Customer delight
- Enhanced patron experience
"Oyo is taking strides to pave a successful path forward as the landscape of hospitality evolves," Prasun said. "The transparency we provide upfront about our Patron Prosperity Program emphasizes the loyalty and commitment we maintain for our valued patrons now and in the future."
For the first quarter, Oyo's Patron Prosperity program will focus on revenue growth, freedom and flexibility, customer delight and patron experience for both patrons and guests. While asset partners and stakeholders will receive direct communications about the new features and updates that have been made available, Oyo said the public can follow its 2022 Partner Prosperity program on the official Oyo blog.