OYO announces a free stay after 5 night stays

New Delhi [India], May 19 (ANI/NewsVoir): Global hospitality technology platform, OYO today announced that its customers will be eligible for a free stay after every 5 night stays. This is an initiative to boost travel in post-pandemic India. The free room night offer will be available to the Gold members of its loyalty program called Wizard. Designed for the frequent traveller in India, Wizard will also offer upto 10 per cent discount on OYO's Wizard hotels across India, and a lot more.
With over 9.2 million members, OYO Wizard is one of the largest loyalty programs run by leading travel or food brands in India & the largest in the budget category segment in India. Designed to enable travellers, the travel tech company's loyalty program aims to reward OYO's regular customers. Across India, Delhi, Bangalore and Hyderabad are the top subscriber markets for OYO's loyalty program.
At present, OYO Wizard is available across 3 tiers - Wizard Blue, Wizard Silver and Wizard Gold. As a member, Gold customers are entitled to one free stay per year after five nights stayed at OYO. Wizard Silver and Blue customers can enjoy a reward stay on their seventh and eight nights respectively. In addition to this, Gold members are also eligible for unlimited 'Pay at hotel' bookings rather than having to prepay for their bookings. OYO has also tied up with 13+ renowned brands such as Dominos, Lenskart, Rebel Foods, Gaana, among others to offer users discount coupons and vouchers to its Wizard club members.
Speaking on the launch of the revamped loyalty program, OYO Wizard, Shreerang Godbole, SVP - Product & Chief Service Officer - OYO said, "OYO caters to value conscious customers, be it families, friends, small business or even employees of large corporates. Our incentives such as free room nights and discounted stays give yet another compelling reason for them to choose to stay at OYO repeatedly. Our share of nights booked by repeat customers in India was over 70 per cent in the year ended March 31, 2021. We believe that our improved loyalty offerings will appeal a lot to this large customer base."
OYO offers customers a slew of features aiming to ease and enhance their booking experience, such as the 3 steps booking process on the OYO App, browsing storefronts based on location, among others. OYO's zero cancellation fee policies are also designed to offer the best customer experience for today's evolved travellers.
This summer, OYO witnessed two record breaking festive weekend bookings in April 2022. Over the Good Friday and Vishu week, OYO clocked in 8 lakh bookings, the highest ever in 2022, surpassing New Years, which is usually a high demand holiday. Furthermore, as per OYO's Mid-Summer Vacation Index 2022, every 1 in 2 Indian travellers had plans to head out on their first trip since 2020 and approx. 94.8 per cent of respondents wish to travel domestically. Keeping in mind this steady surge in travel, Wizard customers are set to benefit from OYO's loyalty program.
Frequent travellers can become a Wizard member by downloading the OYO app and clicking on the top left menu, which leads to the Wizard homepage. Here, users can select between Wizard Blue, Gold and Silver memberships. Alternatively, users can also click on the Wizard banner accessible on the homepage of the OYO app.
Notes: ~9.2 million Wizard members as of March 31, 2021
OYO is a global platform that empowers entrepreneurs and small businesses who operate hotels and homes by providing them with full-stack technology products and services that increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 157,000 hotel and home storefronts in more than 35 countries including India and those in Europe and Southeast Asia, as of March 31, 2021.
For more information, please visit www.oyorooms.com.
Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the "Equity Shares") and has filed the Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.
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