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IPO bound OYO witnesses record 8 lakh bookings during April 11 17 period

IPO-bound OYO witnesses record 8 lakh bookings during April 11-17 period

IPO-bound OYO witnesses record 8 lakh bookings during April 11-17 period
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By PTI Apr 21, 2022 4:31:38 PM IST (Updated)

"Industry experts expect the demand for summer travel to rise by an average of 60 percent in the coming days. Celebrated across different parts of the country, the festive fervour around Vishu, Baisakhi and Easter between 14-17 April contributed to this growth. This trend further reveals that people are keen to travel every chance they get," the company said in a statement.

IPO-bound travel tech firm OYO on Thursday said more than 8 lakh bookings were made primarily through its app and website over the April 11-17 period, with Manali, Haridwar, Amritsar, Goa, and Mysore emerging among the most sought-after leisure destinations.

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With the relaxation of pandemic-related curbs, high vaccination rates, increase in air travel, school holidays, and pent-up travel demand, there has been a significant rise in travel bookings during the summer season.
"Industry experts expect the demand for summer travel to rise by an average of 60 percent in the coming days. Celebrated across different parts of the country, the festive fervour around Vishu, Baisakhi and Easter between 14-17 April contributed to this growth. This trend further reveals that people are keen to travel every chance they get," the company said in a statement.
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A majority of the bookings for patron hotels and homes came from OYO's direct channels, mainly the OYO app, website and corporate bookings.
Moreover, on an average, 20 percent of the bookings were made by OYO's Wizard members. At its peak, over 950 storefronts (hotels and homes) were sold out with 100 percent occupancy on April 16. Manali, Haridwar, Amritsar, Goa and Mysore were the most sought-after leisure destinations over the weekend, OYO said.
"Our data also indicates a rise in bookings across leisure destinations such as Gangtok, Srinagar, Coorg, McLeodganj, Nainital, Rishikesh, Darjeeling, Manali and Shillong," Shreerang Godbole, SVP - Product & Chief Service Officer - OYO, said.
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