​​​​​Dubai: Global hospitality technology company OYO has reported 261% year-on-year growth in New Year's Eve bookings across the Gulf Cooperation Council (GCC) countries, that includes the UAE and Saudi.  Dubai emerged as the most popular destination with Bur Dubai recording the highest surge in bookings, with 208% YOY growth, followed by Jumeirah. Sunday Holiday International Hotel in Dubai was the most booked hotel for the new year celebration in the whole region.

OYO's company-serviced hotels offer a diverse range of stay options in prime tourist locations across Dubai, including Downtown, Sheikh Zayed Road, Business Bay, and Bur Dubai, among others. The growing influx of Indian tourists, particularly large groups, has further fueled the surge in demand for these accommodations.

OYO has a network of 300 premium apartments in Dubai and 150 in Abu Dhabi. These fully furnished premium apartments have become increasingly popular among families and business travelers in the GCC. These apartments offer modern amenities and privacy, catering to the unique needs of long-term and short-term guests. Additionally, OYO has more than 100 hotels in Saudi Arabia in popular tourist destinations such as Riyadh, and Jeddah.

OYO’s strategic introduction of the SUNDAY brand of hotels and premium apartments in the GCC including Dubai and Riyadh has significantly contributed to the surge in demand. These properties are designed to cater to travelers seeking high-quality accommodations with a touch of luxury, meeting the expectations of the region’s discerning travelers.

Speaking on the development, Karan Ashok, Region Head, OYO UAE and Oman said “We made special arrangements at our hotels, including Christmas carol singing, a grand New Year’s Eve gala dinner, and attractive packages designed to boost occupancy during the festive season. Additionally, external factors, such as the 30th anniversary of the Dubai Shopping Festival, played a significant role in driving increased bookings”.

OYO has strengthened its collaboration with local hotel operators and property owners in the UAE and Saudi Arabia, ensuring sustainable growth and a robust inventory of high-quality accommodations.

OYO’s website and app offer accessibility to OYO’s hotels at competitive prices, quality accommodation, ease of use of OYO app, personalization, and flexibility of the OYO platform. Guests can also resolve their queries quickly with OYO’s 24*7 chatbot - Yo! Chat. OYO also helps ensure great experience for guests, with automated tools such as AI chatbots to quickly resolve customer queries, loyalty programs and easy refunds when needed.

About OYO

OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to 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 approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit www.oyorooms.com.

Disclaimer: 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.