OYO UK revenues up 140% in FY22
During 2022, it also added a further 40 hotels in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead and Boston
OYO’s UK operations saw a 140% increase in revenue in 2022, surpassing pre-pandemic levels from 2019.
The news comes as London emerged as the best performing market for the brand, showing strong year-on-year growth. The capital was followed in performance by other regions such as Brighton, Cornwall, Great Yarmouth, Devon, Portsmouth, Plymouth, and the Midlands.
OYO UK has more than 150 small hotels in over 65 cities.
During 2022, it also added a further 40 hotels in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead and Boston.
Gautam Swaroop, CEO of OYO International, said: “2022 was the year where we focussed not just on recovery, but also on expanding our portfolio across the UK. We doubled our revenue and made significant improvements in RevPar. This was achieved through improvements in both Average Daily Rate (ADR) of bookings and occupancy.
“We were also able to leverage peak days with data-driven demand intelligence via PredictHQ that provides insights to enable smarter pricing and packaging of rooms, thereby boosting demand by improving conversions from the key Online Travel Agents (OTAs) where our hotels are listed.”
He added: “As international travel returns to normal, OYO with its global presence will look to drive more guests from markets like India, SE Asia, US, Europe, China and LATAM.”
