Tuesday, January 21, 2020

OYO Hotels and Homes' Top 10 List and Milestones for 2019

OYO Hotels and Homes closed 2019 by announcing its Top 10 lists and milestones for its operations in Malaysia.  

  Starting in Malaysia in 2017 with just under 5,000 rooms and 121 properties, OYO had 17,474 rooms and 270 properties by late 2019.
   East Malaysia was a key growth segment, with Sarawak recording 51x growth in the number of OYO properties.
   Cities in Sarawak led in the growth of room numbers from 2018 to 2019:
o   Miri recorded the largest increase with 571 rooms
o   Kuching came second with 567 rooms
o   Bintulu was third with 381 rooms
   In Peninsular Malaysia, tourist favourite George Town saw the biggest increase in the number of properties at 5,710% comprising 346 rooms.
   Interestingly, upcoming destination Manjung saw the highest growth in rooms in West Malaysia at 3,750%, with a total of 375 rooms in 2019.

“Since we entered the Malaysian market, our global formula has been instrumental in uplifting the operations of our asset owner partners and vital in ensuring OYO’s growth over 2018 and 2019. The success generated from the implementation of OYO’s formula generates further interest from other asset owners, thus continuing the cycle of expansion for the OYO network,” said Tan Ming Luk, Country Head of OYO Hotels and Homes.

With 10 long weekends on the 2020 calendar in Malaysia, OYO’s customer statistics are set to continue on its growth trajectory.
  OYO attracts a majority of Malaysian customers looking for an affordable quick holiday, with highest bookings recorded on Saturdays (80%).
  Occupancy rates peak during festive periods and school holidays (88%), compared to non-peak periods (64%).

There remains room for improvement in Malaysia in terms of booking records.
   Globally, an OYO room is booked every 0.5 seconds, while in Malaysia, an OYO room is booked every six (6) seconds and a check-in happens every eight (8) seconds.

With Visit Malaysia Year 2020 targeting to welcome an estimated 30 million tourists to Malaysia, OYO’s affordable and high quality short term accommodations are expected to be in demand.
   The city hopper can choose from 30 OYO properties within 3km of KLCC
  The history and heritage buff can choose from 13 OYO properties within the George Town UNESCO World Heritage Area
  The nature lover can choose from 10 OYO properties within a 20-minute drive of the Kilim Geoforest Park in Langkawi or 2 OYO properties within 5km of Mount Kinabalu.

For more information on OYO or to check out OYO’s network, log on to www.oyorooms.com

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