Hospitality chain Oyo Hotels & Homes announced a commitment of Rs 1,400 crore ($ 200 million) for the India & South Asia business on Tuesday.
Oyo said the investment is directed at its efforts to further double down on its expansion plans, improve customer experience and ensure an increase in asset owner success. The company also announced the launch of its new brand Collection O to its existing portfolio and also introduced an in-app SOS button that activates on check-ins. Oyo said currently, over 93% of Oyo’s sales are from repeat or word-of-mouth customers. Founder Ritesh Agarwal said losses as a percentage of realised value (Oyo Hotels’ sales run rate) are reducing year-on-year from 44.5% in the financial year 2016-17 to 20.3% in the financial year 2017-18.