OYO to add 500 hotels in host cities to meet demand for the Cricket World Cup

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OYO to add 500 hotels in host cities to meet demand for the Cricket World Cup

Chennai: As cricket fans prepare to celebrate one of the most highly anticipated tournaments of the year, Global hospitality technology company OYO has announced that it will add 500 new hotels in host cities in the next three months to meet the anticipated increase in booking demand, and to provide comfortable and affordable accommodation options during the tournament.

The tournament will take place in Ahmedabad, Hyderabad, Delhi, Dharamsala, Chennai, Lucknow, Bengaluru, Mumbai, Kolkata, and Pune. The new hotels will be strategically located near the stadiums, ensuring ease of access for cricket fans traveling from around the world to witness their favourite teams in action.

The tournament will begin on October 05 and conclude on November 19, with teams like India, England, Australia, South Africa, New Zealand, Pakistan, Bangladesh, Sri Lanka, West Indies, and Afghanistan participating. The air is already palpable with excitement, with hotel tariffs soaring due to heightened demand across host cities three months ahead. OYO has also witnessed a significant surge in demand for the duration of the tournament. Additionally, price of air tickets around match days to host cities have also shot up significantly, indicating a prosperous run for the entire tourism and hospitality industry.

Commenting on the expansion plans, an OYO spokesperson said: “Travel demand automatically goes up whenever the dates for a marquee cricket tournament are announced- such is the magic and power of this sport that binds millions together. We want to ensure that everyone who is travelling from far away to watch their favourite teams has access to a comfortable and affordable accommodation. We are just as excited to see how the tournament unfolds and will be cheering wholeheartedly for our men in blue.

OYO hotels can be booked through a simple three click booking process on OYO Hotels app. Customers choose OYO’s platform for many reasons, including accessibility to hotels at competitive prices, quality accommodation, ease of use of the app, personalization, and flexibility of the platform. Customers can also resolve their queries quickly with OYO’s 24*7 chatbot – Yo! Chat.

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 over 168,711 hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit – https://www.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 at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.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 at www.investmentbank.kotak.com, www.jpmipl.com and www.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 at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.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.

“As cricket fever takes over, we have started witnessing more than usual traction across the host cities. This will increase even more as we progress towards the start of the tournament. To meet this surge in demand, we will be adding 500 hotels in Ahmedabad, Hyderabad, Delhi, Dharamsala, Chennai, Lucknow, Bengaluru, Mumbai, Kolkata, and Pune in the next three months. We understand just how excited fans are and want to ensure they have access to affordable and comfortable accommodation as they travel miles to see their favourite teams in action.

“With cricket fever gripping the nation, we are already witnessing a more than usual surge in demand across the host cities. This demand will intensify as we draw closer to the tournament’s commencement. To meet this surge in demand, we will be adding 500 hotels in Ahmedabad, Hyderabad, Delhi, Dharamsala, Chennai, Lucknow, Bengaluru, Mumbai, Kolkata, and Pune over the next three months. The new hotels will be strategically located near the stadiums, ensuring ease of access for cricket fans. We understand the unwavering enthusiasm of cricket fans and the lengths they go to witness their favourite teams in action. Hence, we want to ensure that they have access to affordable and comfortable accommodation options throughout their journey. Our mission is to alleviate any concerns about finding suitable accommodation, allowing fans to solely focus on immersing themselves in the electrifying atmosphere of the tournament.”

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