Gurugram-headquartered hotel chain company OYO has announced to have forayed into the upscale hotel category, starting with a stellar range of resorts, christened as Palette Resorts. Under this, the company will be creating a range of resorts for those who are in search of an intuitive experience at competitive prices.
To support the development, OYO is partnering with select resorts that offer amenities such as spacious and aesthetically designed rooms, private villas, beaches, gourmet dining, spa, and other recreational provisions. The all-new Palette resorts will be offering exclusively designed staycations – a period for leisure with family and friends, Oyo said in a statement.
“With Palette, we are expanding our playfield to upscale resorts by leveraging our technology and operational capabilities, while remaining committed to our core value proposition – location, quality, and price,” OYO strategy chief Maninder Gulati said.
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The company has announced to start the service in the city of Pondicherry, naming it as Palette Resorts, Le Pondy, and may also expand to other picturesque tourist destinations in India and other international markets in near term.
OYO In The Multiple Customer Segments
Lately, OYO has entered into multiple customer segments. It recently launched two new categories — OYO Homes, and Studio Stays — for the travelers preferring homestays. It had entered the premium segment with its rooms priced between INR 1,500-3,500.
The company has also expanded its operation in over 160 cities in countries such as India, China, Malaysia and Nepal, with more than 5,500 hotel chains all over the world. It is also working with its asset partners while exercising full control over the hotels for ensuring a quality experience for travelers. Its network includes major metros, regional business hubs, top leisure destinations as well as pilgrimage towns.
Its biggest competitor, Treebo Hotels recently launched a premium service for budget customers called Treebo Select, under which the company will provide guests with premium services and amenities in the price range of $38 – $77 (INR 2,500 – INR 5,000).
The Softbank-backed hospitality company OYO recorded $54 Mn (INR 363.7 Cr) revenue in FY 2016-17. The company’s revenue turnover in FY 2016-17 was $19.2 Mn (INR 125 Cr).
With Palette, OYO is trying to reiterate its ongoing commitment to continue innovating and creating world-class hotel experiences in and from India, the company said.