OYO adds over 4,000 corporate accounts in 2019, 80% rise in revenue

Hospitality firm OYO on Tuesday said its corporate channel has witnessed an 80 per cent increase in revenue on a year-on-year basis on account of strong growth trajectory in corporate bookings.

The company currently has a total of over 8,400 active corporate accounts, OYO said in a statement.

The company's corporate channel contributes over 30 per cent to the total revenues of OYO, it added.

The revenue of corporate channel for the calendar year 2019 stood at Rs 459 crore, OYO said.

"The corporate travel segment is a key engine of growth for us and we are seeing strong demand for our standardised and affordable offerings from business travellers across India," OYO Hotels & Homes India & South Asia COO Gaurav Ajmera said.

The company welcomed over 4,000 new corporations in 2019 and their trust in the brand is a testament to the value OYO is creating for its corporate customers, he added.

"As part of our continuous efforts to strengthen the corporate portfolio, we are working to customise our offerings as per their requirements both in terms of in-room amenities or technology and service-based solutions," Ajmera said.