Oyo Claimed to Have Outpaced U.S. Budget Hotel Recovery
Oyo, which advertises itself online as "India's Best Online Hotel Booking Site for Sanitized Stays," said it is performing well in the U.S. — after de-emphasizing its U.S. presence during the height of the pandemic.
India is Oyo's largest market.
The company said Friday that during 2022 its revenue per available room, an important industry metric, grew 18 percent in the U.S. compared with prior to the pandemic in 2019, versus an only 6 percent rise for its budget hotel peers in the country. The latter figure comes from STR data, Oyo said.
"Coastal Oregon, Miami, Myrtle Beach, Houston and San Antonio emerged as the destinations with highest RevPar in 2022," Oyo stated. "Travel recovery was largely led by domestic travel in the U.S."
Oyo has a potential initial public offering in the works in India.
Oyo, which is a hotel aggregator and operator, said it attracted nearly 20 percent more bookings over President's Day weekend (February 18-20) in 2023 versus 2021.
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