OYO Introduces Stay Now Pay Later Option  for summer vacationers in India

OYO Launches Stay Now Pay Later Feature for Indian Travelers

OYO, the renowned global hospitality technology company, has introduced a new feature called Stay Now Pay Later (SNPL) to provide greater flexibility for Indian travelers planning their summer vacations. Recognizing the desire of 82% of Indians to travel this summer, with 92% opting for domestic destinations, OYO aims to facilitate travel planning by offering a payment option that reduces immediate financial constraints.

The partnership with Simpl, a credit-based payments service, enables customers to enjoy a more accessible and flexible travel experience.

Enhanced Travel Planning with Stay Now Pay Later Option

OYO's Summer Vacation Index 2023 reveals the strong inclination of Indian travelers to embark on summer trips. The introduction of the Stay Now Pay Later option empowers customers to plan their vacations without worrying about immediate payment obligations.

By offering a credit limit of up to INR 5,000, OYO allows customers to settle their payments 15 days after their stay. The convenience of this feature is easily accessible through the home screen of the OYO app, where customers can select the SNPL plan that best suits their requirements.

Positive User Response and Benefits

During a pilot phase involving 10% of its user base, OYO observed an 8% increase in payment completion rates. Notably, over 40% of users utilized the SNPL option for transactions exceeding INR 2,000, highlighting its appeal to cash-flow conscious travelers who seek flexible payment solutions. Currently available for Android users, the SNPL feature will soon be extended to iOS users, ensuring a seamless experience for a wider audience.

OYO's Commitment to Customer Convenience

Abhinav Sinha, Global COO and Chief Technology & Product Officer of OYO, emphasized the company's customer-centric approach and the constant efforts to enhance travel convenience. The introduction of SNPL aligns with OYO's goal of removing financial constraints that hinder customers from pursuing their dream vacations.

By offering a convenient payment solution, OYO aims to make travel more accessible and enjoyable, allowing customers to focus on creating memorable experiences.

OYO's Continuous Innovation in the Travel Industry

OYO remains at the forefront of revolutionizing the travel industry by introducing innovative solutions that prioritize customer convenience and satisfaction. The addition of the Stay Now Pay Later feature represents another significant step in this direction. Customers choose OYO for various reasons, including competitive prices, quality accommodation, ease of use of the app, personalization, and now, the flexibility offered by the Stay Now Pay Later option. OYO's commitment to exceptional customer service is further exemplified through the availability of their 24/7 chatbot - Yo! Chat, ensuring quick resolution of customer queries.

OYO's introduction of the Stay Now Pay Later feature reflects its dedication to enhancing the travel experience for Indian customers. By offering a flexible payment option, OYO aims to make travel more accessible and convenient, enabling customers to plan their summer vacations without immediate financial burden. This innovative solution is in line with OYO's ongoing efforts to prioritize customer

OYO Plans to Expand with 300 Hill Station Hotels by August

OYO, the renowned hospitality and travel-tech firm, reveals its strategy to onboard 300 hill station hotels to its portfolio by August 2023. Recognizing the surge in demand for hill station getaways during the summer vacation rush, OYO aims to cater to travelers seeking comfortable and affordable accommodation options in these picturesque destinations.

Expansion Plans for Hill Station Hotels Across India

In its statement, OYO outlines its plan to add new hotels in various hill stations across India. In the northern region, the company will introduce hotels in popular destinations such as Manali, Mussoorie, Nainital, Srinagar, Shimla, Dalhousie, and Haridwar.

Meanwhile, in the southern region, OYO will establish its presence in Ooty, Munnar, and Kodaikanal, offering travelers a chance to experience the natural beauty and tranquility of these locations.

Additionally, the eastern region will see new OYO hotels in Gangtok, Darjeeling, and Shillong, while the western region will witness the inclusion of hotels in Lonavala and Mahabaleshwar.

Meeting the Growing Demand for Hill Station Getaways

OYO acknowledges the increasing demand for hill stations among travelers and anticipates that this trend will continue for the next three months. The company aims to capitalize on this demand by expanding its presence in key hill destinations across India. By offering a diverse range of accommodation options, OYO intends to provide travelers with a wide selection to choose from, ensuring a comfortable and memorable stay.

Supporting Domestic Tourism and Premiumization

The spokesperson for OYO emphasizes the company's commitment to contributing to the growth of domestic tourism. By expanding its operations in hill stations, OYO aims to encourage travelers to explore the beauty of India and unlock the potential of domestic travel. In addition to the hill station expansion, OYO has set a target of adding 1,800 new hotels to its portfolio in 2023 as part of its ongoing efforts to enhance the quality and premiumization of its offerings.

Conclusion

OYO's plan to onboard 300 hill station hotels by August showcases the company's response to the rising demand for these destinations during the summer vacation season. By expanding its presence in popular hill stations across India, OYO aims to provide diverse accommodation options and support the growth of domestic tourism. This strategic expansion aligns with OYO's commitment to enhancing the travel experience for its customers and contributing to the development of the Indian hospitality industry.