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OYO Doubles Down on US Expansion, on Track to Add 250 New Hotels in 2024

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6 months ago

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–News Direct–

Global travel technology company, OYOs US operations today announced plans to significantly expand its footprint in the United States. The company aims to add more than 250 hotels in the US in 2024. Last year the company added ~100 hotels in the US, taking the total count to over 320 hotels. This expansion will focus on some new as well as existing markets including Miami, New York City, San Francisco, San Jose, Boston, New Jersey, Las Vegas, Los Angeles, Manchester, Orlando, and San Diego. OYO was launched in the U.S. in 2019 and since then, has established a presence in over 35 states.

We are seeing tremendous interest from hotel owners to partner with OYO as we have demonstrated our ability to drive significant revenue uplift for our hotel partners. Our operational expertise allows us to rapidly scale and deliver an exceptional experience for guests across the country, while also driving strong financial results for our hotel partners, said Gautam Swaroop CEO OYO International.

Nikhil Heda, Head of Business Development OYO US added, We have seen strong growth potential in major markets in the US such as Florida, Nevada and California to site a few. With the company wide focus on sustainable growth, coupled with introduction of new tech-integrated business solutions to support the ever-evolving needs of our valued patrons, OYO is well poised to expand it footprint across the US in the months to come. As a matter of fact, we have been consistently adding more than a 1000 SRNs (Sellable Rooms Nights) every month. The eventual objective is to ensure that every 1 in 10 hotels in the US can proudly associate itself with the OYO brand.

The company recently reported that it has outpaced the budget hotel industrys per room revenue (RevPar) growth in 2023. While OYO's per room revenue witnessed a ~17% growth in 2023, the budget hotel segment in the USs per room revenue saw a 9% decline y-o-y in 2023, according to the STR report. Occupancy rates across OYO hotels in the US surged by ~9% y-o-y in 2023, whereas Average Room Rate (ARR) recorded 7% growth in 2023 as compared to 2022.

OYO recently announced that it has partnered with Stripe to ease the payment experience for its customers and hotel owners in the US. The integration will provide hotel owners with a flexible and seamless solution for in-person payments with Stripe Terminal at their hotels. OYO hotels in the US will also be enabled with real-time payouts through Instant Payouts with Stripe, which will improve their cash flow.

OYO also announced the launch of a virtual front desk solution for its partner hotels in the US. The self-check-in technology is integrated with smart lock systems, allowing guests to enjoy keyless entry and exit without the need for physical key cards. Round-the-clock virtual front desk powered by ChatGPT reduces front desk operations expenses by ~60%, saving an average OYO hotel ~$30,000 annually. The virtual front desk supports 80+ languages and promptly assists guests in their preferred language, addressing queries and concerns in real-time. Additionally, the system automates payment collection, streamlining the entire process for a hassle-free experience.

OYO has presence in over 35 countries globally. It owns a vacations home business in Europe called OVH (OYO Vacation Homes) which operates legacy brands such as DanCenter and Belvilla.

About OYO: OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 168,711 hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit here

Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the Equity Shares) and has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).

The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled Risk Factors. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to qualified institutional buyers (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.

Contact Details

Anupriya

+91 97911 63065

anupriya.d@oyorooms.com

Company Website

https://www.oyorooms.com/

View source version on newsdirect.com: https://newsdirect.com/news/oyo-doubles-down-on-us-expansion-on-track-to-add-250-new-hotels-in-2024-154378316

OYO

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New World Asset Management Ltd NWAM and AlgoDynamix reach a comprehensive strategic cooperation Leading the new era of intelligent risk management

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1 hour ago

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October 24, 2024

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In the ever-changing global financial market, investors have an increasing demand for accurate market insights and intelligent risk management. Market volatility, emergencies and global economic uncertainty have brought unprecedented challenges to investors. However, in the face of these changes, New World Asset Management (NWAM) and AlgoDynamix have joined forces to provide global investors with forward-looking market risk management solutions to help them remain invincible in market fluctuations.

United States, 24th Oct 2024 – In the ever-changing global financial market, investors have an increasing demand for accurate market insights and intelligent risk management. Market volatility, emergencies and global economic uncertainty have brought unprecedented challenges to investors. However, in the face of these changes, New World Asset Management (NWAM) and AlgoDynamix have joined forces to provide global investors with forward-looking market risk management solutions to help them remain invincible in market fluctuations.

As a leading global risk analysis company, AlgoDynamix relies on its unique AI and big data analysis technology to focus on predicting market volatility and risk management. The market volatility prediction tools provided by AlgoDynamix have been widely used in many financial institutions around the world, helping investors to make plans before market fluctuations. Its innovative risk prediction system allows investors to adjust their strategies in time when the market fluctuates violently to avoid potential losses.  In November 2023 , NWAM and AlgoDynamix officially launched strategic cooperation negotiations. The two parties quickly determined the cooperation framework and decided to integrate AlgoDynamix’s market risk prediction model with NWAM’s AI quantitative trading platform. This integration will not only greatly enhance NWAM’s market analysis capabilities, but also provide its users with intelligent market volatility early warning functions.

In early 2024, the two parties successfully completed the integration of market data and risk prediction tools, and officially released the AI-driven market volatility early warning system on the NWAM platform. The system can monitor market dynamics in real time, capture potential risk signals, and provide users with instant risk warnings. With this technology, NWAM users can quickly respond to market changes and adjust investment strategies to achieve more stable wealth growth.  One of the important results of this cooperation is the launch of an intelligent risk management system. Through this system, NWAM users can not only obtain accurate market volatility forecasts, but also use intelligent tools for personalized risk management. Whether it is large institutional investors or individual investors, the NWAM platform will help them make smarter decisions amid market uncertainty.  Commenting on the partnership, NWAM CEO said: “We have always believed that the future of financial markets belongs to those companies that can fully leverage smart technology. AlgoDynamix’s technology fits seamlessly with our AI quantitative trading platform, providing our users with powerful risk management tools. This partnership marks a key step forward in our journey towards smart investment management.”

The founder of AlgoDynamix is also looking forward to the cooperation: “NWAM’s leading technology in digital asset management and AI trading perfectly complements our expertise in predicting market volatility. We firmly believe that through this cooperation, global investors will be able to better protect their assets during market turmoil and achieve steady wealth appreciation.”  This cooperation not only promotes the advancement of intelligent risk management technology, but also opens a new chapter in safer and more reliable wealth management for global investors. Through its cooperation with AlgoDynamix, NWAM will significantly enhance its capabilities in market analysis and risk management. The AI-driven market fluctuation early warning system and intelligent risk management functions not only improve the platform’s market response capabilities, but also bring more security to investors. In an increasingly complex global market, improving risk management capabilities is undoubtedly an important cornerstone for investors to make steady profits.

Media Contact

Organization: New World Asset Management Ltd

Contact Person: Don Adam Perera

Website: https://newworldeco.com

Email: Send Email

Country: United States

Release Id: 24102418963

The post New World Asset Management Ltd NWAM and AlgoDynamix reach a comprehensive strategic cooperation Leading the new era of intelligent risk management appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

Eagle Crest Asset Management and Its AI Ambitions A Global Expansion

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1 hour ago

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October 24, 2024

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United States, 24th Oct 2024 – Since its founding in 2019, Eagle Crest Asset Management has been steadfast in its commitment to providing long-term value to clients through professional investment management and meticulous risk control strategies. With a client-first approach, the firm has built a strong reputation for its innovative solutions and personalized investment strategies, which are designed to meet the unique financial goals of each client. As the company evolves, it is turning its focus towards a new frontier: artificial intelligence (AI).

Eagle Crest’s Growing Focus on AI

In today’s rapidly changing financial landscape, technology and AI are becoming critical components in shaping the future of asset management. Recognizing this trend, Eagle Crest has identified the AI industry as a key area for future growth and investment. The firm plans to intensify its research and development efforts in AI, aiming to discover and invest in promising AI startups and enterprises that show potential for long-term success.

By leveraging cutting-edge AI technologies, Eagle Crest intends to enhance its investment strategies, enabling more sophisticated portfolio management and improving predictive analytics for better market forecasting. The firm is particularly focused on identifying companies at the forefront of AI innovation, those developing groundbreaking applications across industries such as healthcare, robotics, autonomous systems, and big data analytics.

Strategic Global Expansion

To support its ambitious AI focus, Eagle Crest Asset Management is expanding its global footprint. Over the next few years, the company plans to establish offices in dozens of regions worldwide. This global expansion will provide the firm with a more diverse and extensive network, allowing it to tap into local AI ecosystems and identify promising investment opportunities in key markets.

By setting up operations in major innovation hubs, including North America, Europe, Asia, and the Middle East, Eagle Crest aims to build strong partnerships with local AI companies, researchers, and innovators. These offices will also serve as research centers, helping the company stay ahead of emerging trends and technological advancements in AI. This global presence will not only enhance Eagle Crest’s access to high-potential AI startups but will also allow the firm to support them through funding, mentorship, and strategic partnerships.

A Vision for the Future

Founder Ridel Bosco Castillo has always been a visionary leader, driving Eagle Crest’s growth and innovation. With this new focus on AI, Castillo sees tremendous opportunities to shape the future of asset management by integrating advanced technologies into the investment process. He believes that by fostering AI innovation, Eagle Crest can generate superior returns for its clients while also contributing to the advancement of AI industries worldwide.

As Eagle Crest Asset Management continues to evolve, its AI-driven strategies and global expansion will position the firm as a leader in both the financial and technology sectors. The company’s commitment to finding and investing in the best AI enterprises, combined with its robust network of global offices, will enable it to stay at the forefront of the industry, offering clients access to cutting-edge investment opportunities and solutions.

In the coming years, Eagle Crest aims to become a key player in the AI space, bridging the gap between finance and technology while delivering unparalleled value to its clients. This strategic move marks the beginning of a new chapter for the firm, one where AI and global innovation will drive its future success.

Media Contact

Organization: Eagle Crest Asset Management

Contact Person: Ridel Bosco Castillo

Website: https://ecamai.com/

Email: Send Email

Country: United States

Release Id: 24102418964

Disclaimer: Investments in artificial intelligence (AI) and related technologies are subject to significant risks, including technological challenges, market volatility, and unpredictable regulatory environments. Clients and prospective investors should perform their own due diligence and consider their financial goals, risk tolerance, and consult with financial advisors before making investment decisions. All information provided is for informational purposes only and should not be construed as financial advice.

The post Eagle Crest Asset Management and Its AI Ambitions A Global Expansion appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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EMEET Recognized with Multiple Prestigious Awards for EMEET AirFlow and EMEET Meeting Capsule Pro Room Kit

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2 hours ago

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October 24, 2024

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China, 24th Oct 2024 – EMEET, a leader in AI-driven audio and video communication solutions, recently received prestigious recognition for its innovative products. The EMEET AirFlow Open-Ear Headphones have been honored with Japan’s G-Mark Design Award and earned Zoom certification. Additionally, the EMEET Meeting Capsule Pro Room Kit has won the prestigious IDEA Award.

Award Highlights

The G-Mark Design Award, also known as the Good Design Award, is a significant accolade in Japan, recognizing outstanding design and innovation. Being Zoom certified underscores EMEET’s commitment to providing superior audio and video experiences that meet industry standards.

The IDEA (International Design Excellence Awards) is one of the premier awards in the field of industrial design. Winning this award stands as a testament to EMEET’s relentless pursuit of groundbreaking and user-friendly products.

Award-Winning Product Overview

EMEET AirFlow

EMEET AirFlow Open-Ear Headphones combine cutting-edge technology with elegant design, providing users with an exceptional auditory experience that ensures situational awareness and comfort. With the detachable microphone design, the EMEET AirFlow is not only a ideal choice for daily entertainment, but also an office essential for professionals.

The recognition by G-Mark and Zoom certification highlights its excellence in both design and functionality.

EMEET Meeting Capsule Pro Room Kit

The EMEET Meeting Capsule Pro Room Kit combines a camera, speaker, and microphone into one sleek device, eliminating the need for multiple pieces of equipment and simplifying the setup process. This all-in-one design ensures a seamless meeting experience in one compact package.

Winning the IDEA Award showcases EMEET’s dedication to creating products that blend advanced technology with user-centric design.

About EMEET

EMEET values the contributions of every individual in meetings and knows that everyone should be heard and seen. Established in August 2016, with the mission of “better communication, better world”, EMEET endeavored to create an intelligent mobile collaboration space. Today, EMEET is a prominent global company, specializing in R&D, production, and sales of AI-driven intelligent audio and video communication products.

The Zoom-Certified AirFlow will be available in December, 2024.

Media Contact

Organization: EMEET TECHNOLOGY CO., LTD

Contact Person: Amy Lyu

Website: https://emeet.com/

Email: Send Email

Country: China

Release Id: 24102418947

The post EMEET Recognized with Multiple Prestigious Awards for EMEET AirFlow and EMEET Meeting Capsule Pro Room Kit appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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