OYO announced its foray into Nepal on Thursday with the launch of its debut hotel in Kathmandu.
Launched in 2013, OYO’s network has grown to 7000 hotels in 200 cities. Nepal is the second overseas market for OYO, after its debut in Malaysia in January 2016 where it has grown to 200 hotels.
Ritesh Agarwal, founder, and CEO, OYO said, “OYO has been at the forefront of the small and budget hotels revolution in India. Building the category grounds-up, we have employed technology and operational acumen to deliver delight to our customers and unparalleled benefits to partners. Our network has witnessed robust growth to become the largest in India. After our successful overseas foray in Malaysia, we are now thrilled to offer OYO’s hassle-free and standardized stay experience to travellers visiting Nepal.”
According to the Department of Immigration, of the 174,803 tourists that visited Nepal in 2016, the highest number of travellers were reported from India. A further boost to cross-border trade and tourism is expected with India and Bangladesh set to reopen the defunct trans-border rail routes which would extend links to Nepal and Bhutan.
The travel and hospitality sector in India is witnessing a phenomenon of Impulse planning. Even as travel-planning cycle reduces further, the expectations from on-ground suppliers and agents of delivering a non-negotiable and predetermined experience have become stronger.
Agarwal added,”Today, 70% of Indians admit to unplanned spending – from relationships to shopping, instant gratification is the new norm. At the same time, they are increasingly looking at discerning or standardized experiences; even if the purchase decision was driven by impulse. With our promise of standardized and predictable stays across 7000 hotels in 200+ cities, OYO caters to the impulse-planning behavior displayed by millennial traveller. We are also engaging with various stakeholders to create partnerships that help us make new experiences accessible to tourists.”