27
Monday
May 2019
4:36 PM IST
News Headlines
PM visits Gujarat, post grand electoral triumph        CBI summons ex-Kolkata police chief, asks him to appear before it on Monday        Irani''s aide shot dead in Amethi; FIR lodged against 5 persons        Former Thai PM Prem Tinsulanonda dies at 98        Trump downplays North Korea launches on Japan visit        Imran Khan speaks to PM Modi, expresses desire to work together: FO        Fifth-seeded Kerber stunned in French Open opening round        No need to press panic button yet, says Tendulkar after India''s loss to NZ in warm-up game        World Cup Munich: Chandela clinches gold in 10m air rifle        Twenty-four killed in Afghanistan floods        New Zealand beat India by six wickets in warm-up match        President appoints Modi as Prime Minister        Modi asks NDA MPs to work without discrimination, reach out to minorities        Day after BJP''s massive victory, all eyes now on govt formation        Cong-JDS cabinet reposes faith in Kumaramaswamy after dismal show in LS polls        Surat: 19 students die as fire engulfs commercial complex        Britain''s Brexit-beaten Theresa May announces resignation, to step down on June 7        Two more Indian mountaineers die on Mount Everest, toll of Indians rises to 8        Nadal, Federer set up potential semifinal at Roland Garros        India, New Zealand seek tune-up in warm-up clash        
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Business News
OYO launches OPEN programme for asset owners
 
New Delhi: Hospitality firm OYO Thursday launched its year long initiative, OYO partner engagement network (OPEN), to help its over 8,700 asset owner partners in India reach their business goals.

OPEN is founded on four key pillars -- promises to partners, supporting growth, engagement, and recognition of asset partners, OYO CEO India and South Asia Aditya Ghosh told reporters here.

Commitment to partners constitute six core promises including transparent payment protocols, financial support, multiple touch points to connect, marketing excellence, tech innovation and regulatory compliance assistance, he added.

Commenting on the launch, Ghosh said: "With the launch of OPEN, we are laying the foundations of a structured way of exchanging ideas, providing support and most importantly, building a relationship of trust on which we hope to build the next several decades to come."

This is a industry-first initiative in the hospitality space, he added.

As part of the promise of regulatory compliance assistance, OYO will also help asset owners navigate regulatory and compliance requirements for business continuity and provide access to pan-India list of local legal and accounting firms that specialise in industry requirements, Ghosh said.

As for the transparent payment protocols promise, the asset owners will receive 18 per cent interest on delayed payments and resolution for exceptions will be done before the due date, he added.

The company has also launched Co-OYO app which will transparently provide business metrics, Ghosh said.

Through the Co-OYO app, asset owners can have complete visibility on cash flows, business performance, pricing, customer reviews and recommendations, he added.

"At OYO, we are on a mission to create quality living spaces and make it accessible and affordable for millions of our customers and we cannot do this without the active support and encouragement of our asset owner partners," Ghosh said.

OYO Hotels and Homes currently has over 8,700 asset owners in India, across over 259 cities with a room count of around 176,000 rooms.

The company had recently announced an investment commitment of Rs 1,400 crore for the current fiscal in India and South Asia.


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Rupee rises 26 paise to 69.40/USD in early trade ahead of Lok Sabha elections outcome
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Amazon's Bezos unveils lunar lander project 'Blue Moon'
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SBI reports net profit of Rs 838 cr in Mar 2019 quarter; trims bad loan ratio
KERALA NEWS
Rahul elected from Wayanad LS seat
 Thiruvananthapuram: Congress president Rahul Gandhi was Thursday declared elected from the Wayanad L  
LS polls candidate attacked in Kerala
Two women abort their plan to enter Lord Ayyappa temple Sabarimala
Kerala CM meets CEOs of leading business firms in Switzerland
INTERNATIONAL NEWS
Former Thai PM Prem Tinsulanonda dies at 98
 Bangkok: Thailand''s former prime minister Prem Tinsulanonda died at the age of 98 on Sunday, accord
Trump downplays North Korea launches on Japan visit
Imran Khan speaks to PM Modi, expresses desire to work together: FO
Twenty-four killed in Afghanistan floods
NATIONAL NEWS
CBI summons ex-Kolkata police chief, asks him to appear before it on Monday
 New Delhi: The CBI has summoned former Kolkata police commissioner Rajeev Kumar, asking him to appea
Irani''s aide shot dead in Amethi; FIR lodged against 5 persons
President appoints Modi as Prime Minister
Day after BJP''s massive victory, all eyes now on govt formation
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