Oyo offers business advances to its asset owners

Bengaluru: Hospitality chain Oyo has launched a financing facility which offers a cash-in-bank (CiB) option to its asset owners. With CiB, Oyo allows its asset owners across India to benefit from quick and collateral-free business advances to upgrade or renovate their buildings, said the company in a statement.

This is their second such initiative under the recently-launched partner engagement program — OPEN.

“As a direct outcome of our constant engagement with the asset owner partners under the aegis of OPEN – OYO Partner Engagement Network, we realized the need for providing a quick and hassle-free financing facility to cater to their expansion and renovation needs,” said Aditya Ghosh, CEO for Oyo India and South Asia. “We believe this facility has the potential to be a game-changer for our asset owners and elevate their relationship with us.”