OYO is now offering cash to hotels in Japan to join its platform as the coronavirus pandemic increases the demand for rooms ahead of the 2020 Tokyo Olympics.
Called the OYO Partner Support Programme, the company will pay new hotel partners a sum equal to a proportion of their revenue in the past year. The company said that the offer is available immediately and will run indefinitely.
OYO (Oravel Stays) reported consolidated revenue of Rs 6619.26 Cr, expenses of Rs 8946.8 Cr , loss of Rs 2332.7 Cr in FY19. In the Y-o-Y comparison, revenue has grown 3.5X, with 3.8X jump in expenses resulting in 5.47X higher losses.