OYO Hotels & Homes is an up and rising star in the hospitality space. With a valuation of 5bn+ USD and another round of funding of about 1.5bn USD, the hospitality company is continuing its meteoric growth.
Should you be scared as a short term rental host? No, definitely not. In contraray, there is a lot to learn from OYO Hotels & Homes.
- OYO Hotels & Homes is successful, among other things, because it owns the complete value chain that is behind the listings, so everything from listing, to customer journey, to check-in, check-out, gorund operations etc.
- OYO Hotels & Homes tries to own the customer relationships … for ever. So once you as a guest enter their world, there is hardly a way out, because they surprise you at every touchpoint along the customer journey
- OYO Hotels & Homes knows its budget segment very well and tries to provide a very standardized hospitality experience. Which means that for you as a guest, you know what to expect, when staying in an OYO room
So how does that help you?
- Try to optimize your renting experience along the complet customer journey, so starting with the booking process the whole way to the check-out. Try to think, where you can improve or do things differently / or better
- Try to be as effective as possible through software. Try to automize as many processes as possible, from property management system, over to channel manager tools, pricing softoware and customer journey support.
- Create living experience for your guests that is clearly beyond standards. Try to make your guests happy as often as you can.
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