Oyo parent Prism launches CheckIn app; targets luxury and premium stays

Oyo's parent firm is expanding into the premium segment with CheckIn app, which features hotels, homes, and holiday rentals. The existing app will continue to serve value-conscious travellers

Oyo’s parent company, Prism, on Friday announced the launch of CheckIn, a new app dedicated to its premium properties worldwide. The platform will showcase high-end hotels, homes, and experiences, including SUNDAY Hotels, Clubhouse, and Palette, alongside European holiday homes such as CheckMyGuest, Dancenter, Belvilla, and others.

 

Focus on premium segment

 

The new app will cater to the premium and luxury segment, while the Oyo app will continue to serve value-conscious travellers.

 

Ritesh Agarwal, founder and group chief executive officer of Prism, said, "It delivers two key benefits: the assurance that every property meets rigorous standards of quality and service and the convenience of accessing diverse premium options without the need to navigate multiple channels. Just as Oyo became synonymous with budget travel globally, the CheckIn will serve as our global house of brands for premium hotels and homes."

 

Pilot and rollout

 

The CheckIn collection and app were piloted three months ago on the Play Store and App Store in India, Oyo said. Properties in destinations such as London, Dubai, Bali, and several Indian cities are already open for bookings.

 

Initially available in India, CheckIn will be rolled out globally in the coming months, the company added. According to Oyo, around 45 per cent of users consistently opt for budget-friendly stays, while nearly 55 per cent prefer higher-quality, design-focused, and experience-led accommodations.

 

Prism is fast-tracking the growth of its premium hotel brand Sunday, with plans to add 40 new upscale properties, including 4-star and 5-star hotels, across India in the current financial year. As part of its expansion strategy, Sunday Hotels is focusing on a mix of metro markets and non-metro cities, while also targeting tourism hotspots, including wildlife sanctuaries and prominent religious destinations.

 

Oyo targets $7-8 bn IPO valuation

 

Oyo plans to file its Draft Red Herring Prospectus (DRHP) in November, eyeing a $7-8 billion valuation for its initial public offer (IPO), news agency PTI reported. The company is expected to approach its board with the proposal next week. Discussions with key banking partners have ramped up in recent weeks, with valuation guidance now pegged at $7-8 billion (around Rs 70 per share), the report said.

 

(With inputs from PTI)