Everybody loves vacation. And to make it even more desirable, apps like Oyo are offering accessible methods to book a room in seconds. This advancement in technology changed the dynamics of the hospitality industry. What more, it has grown so much, so investing in an Oyo clone is a bold business move.
Oyo has registered a revenue of over $951 million. This has been made possible by the varied revenue flow that this app offers. This foolproof method is sure to augment your hotel business and even give entrepreneurs and start-ups a good boost to kickstart a business. The revenue streams include
Fast-growing Indian-based hotel booking company Oyo has witnessed revenue of $951 billion at the end of 2019. Out of which 64% of the profits were from India and 32% of revenue from China. This outstanding growth has led to buzz in the hotel booking industry. Entrepreneurs are interested to know about the secret behind the success of Oyo rooms.Here is how Oyo has an entire fleet of hotels operating under it: As per the business model of Oyo, the rooms are not owned by Oyo, instead, they acquire certain rooms from hotels that match their standards. It is far simpler than buying establishments for business expansion purposes. Oyo currently has over 23,000 hotels, 8,50,000 rooms, and 46,000 vacation homes across the globe. Hotels are in favor of the association offered by Online hotel booking apps as the hotel gets famous through it and more revenue is guaranteed throughout the year.
Business trends revolving around Hotel booking reservation apps
According to Statista, the online travel reservation reached $430.034 billion at the end of 2019.
As per a recent study with an annual growth rate of 6.2 %, the hotel booking app development is expected to reach $551.262 million by 2023.
The number of users of smartphones increases tremendously with that there will be a significant increase in the number of users for online travel booking apps.
Key features that ought to be part of the Oyo Rooms app
Here are some of the must-have features that are to be included in Oyo Rooms like app:
User app features
Customers should be able to log in quickly within a few minutes. The app should have social media login features facilitating instant login aspects.
Once the required hotel is sorted out from the list, customers can book for the rooms based on their availability.
In the vast availability of hotels and rooms, customers have difficulty in finding the room as per their requirements. The search filter assists customers in searching the rooms as per their choice as the Artificial Intelligence algorithm prompts relevant suggestions based on their previous searches.
After completing the booking process, customers will receive alerts based on their booking choices. This will also help customers know about the current status of their hotel booking order.
Simple check-in and check-out process
Customers can avoid the long lines in the reception by swiftly check-in and check-out directly from the application with a touch of a button.
The online payment modes will be an added advantage over the other services for your online hotel booking app like Oyo. Customers can pay for the services they require through a variety of secure payment modes of their choice. They can avoid the time spent in the booking process upon reaching the hotel.
One might wonder if features are all that is required to become of a reputed hotel booking app like Oyo. The answer is no, there are other crucial processes like simple workflow, captivating user-experience, and the latest tech stack to offer seamless user-experience. Features are one of the interface elements which provide the medium to access the functionality to use the app. It is one of the important pillars of development in hotel booking script.