OYO adds over 4,000 corporate accounts in 2019, 80% rise in revenue

Hospitality firm OYO on Tuesday said its corporate channel has witnessed an 80 per cent increase in revenue on a year-on-year basis on account of strong growth trajectory in corporate bookings.

The company currently has a total of over 8,400 active corporate accounts, OYO said in a statement.

The company’s corporate channel contributes over 30 per cent to the total revenues of OYO, it added.

The revenue of corporate channel for the calendar year 2019 stood at Rs 459 crore, OYO said.

“The corporate travel segment is a key engine of growth for us and we are seeing strong demand for our standardised and affordable offerings from business travellers across India,” OYO Hotels & Homes India & South Asia COO Gaurav Ajmera said.