Global travel technology company OYO reported a 15% year-over-year revenue increase for its UK operations in 2024. The company's Average Daily Rate (ADR) grew by 2%, outperforming the broader market, which saw a 2.8% decline according to STR. Additionally, OYO’s per room revenue (RevPAR) rose by 4%, while the market experienced a 4.5% drop.
OYO recently announced plans to launch over 40 premium self-operated hotels through leasehold contracts this financial year. The company has already onboarded 18 hotels under this model and aims to add 22 more in key cities, including London, Birmingham, Manchester, Liverpool, Glasgow, Bristol, Cardiff, and Edinburgh.
In 2024, OYO’s parent company, Oravel Stays Limited, entered the UK’s premium segment with the launch of SUNDAY Lansbury Heritage in Canary Wharf.
The Summer Bank Holiday Weekend (August 24-26) was the most popular long weekend for bookings in 2024, with August 24th recording the highest single-day bookings. Overall, July emerged as the busiest month for reservations.
Gautam Swaroop, CEO – OYO International said, “Our continued growth in 2024 demonstrates the strength of our business model and the effectiveness of our approach. By focusing on dynamic pricing and leveraging our AI capabilities, we’ve not only bucked industry trends but accelerated our growth in the UK market.”
Puneet Yadav, Country Head – OYO UK, added: “Our AI-powered pricing engine continues to drive optimal revenue for our hotel partners, while our automated solutions are helping address key industry challenges like rising operational costs and staff shortages. The self-check-in technology we’ve implemented has been particularly valuable in enhancing guest experience while reducing operational burdens for hotel owners. With OYO’s global distribution, we unlock new revenue opportunities for hotels and showcase them to a global customer base.”
OYO’s commitment to customer satisfaction has delivered positive results, driven by automated tools like AI-powered chatbots that ensure swift query resolution. Its technology-driven approach continues to improve hotel operations and enhance guest experiences across its UK portfolio.
OYO operates over 200 hotels across 65 cities in the UK, primarily in the budget segment. Its key clusters include London, Manchester, Birmingham, Cardiff, and Brighton.
OYO helps hotels boost demand and increase revenue by leveraging multiple Online Travel Agents (OTAs) along with its own website and mobile app. Its advanced AI-powered pricing software dynamically adjusts rates across all channels based on room type, seasonality, and other factors, ensuring optimal booking prices and maximising revenue.
