HomeManagementOYO adds new revenue management technology

OYO adds new revenue management technology

Tech-enabled hospitality company OYO has launched new revenue management features to help the independent hotel owners it partners with to optimise their performance and capture increased levels of business post-lockdown.

The new tools are being rolled out automatically across the full OYO portfolio
at no cost to owners and include a Smart Pricing Manager that gives partners the power to adjust their room prices instantly upwards or downwards within a specified range, and a Cancellation Prediction Engine that calculates the probability of every customer who has booked at a particular hotel actually turning up to check-in, based on the booking characteristics, customer profiles, and historical trends of the property.

Said Rishabh Gupta, head of OYO UK and Europe,“The current pandemic has created an oversupplied hotel ecosystem owing to the lower-than-usual demand from guests and gradual increase in availability of properties, so it is more important than ever that OYO responds with agility to help our independent hoteliers capture demand and maximise occupancy and RevPar,”

“OYO’s revenue management systems are based on data, technology and expertise; and here, we’ve also listened to partner feedback to introduce tools that are not only effective, but also give our partners greater input where they’ve told us they want it.”

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