which is also known as oyo, that provide budget hotel rooms in India. Currently, Oyo rooms spread it business in 168 cities with over 4000+ hotel partner and 68000 rooms in India. which is a good expansion of business in last few years, oyo room now the main player in providing budget hotels.
On June 15,2016 Ritesh Agarwal CEO of OYO rooms launched its new website called OYO Bazar, it is mainly one stop shop for hotels to procure daily essentials required to run their business. company has no intention to enter into e-commerce industry but work as a supplier for its partners.
As per mentioned on oyo bazar website “OYO Bazar which is India’s first B2B marketplace built exclusively for the hospitality sector. Hotels and guest houses can shop for any Hotel supplies from the OYO Bazar portal at a price and quality which is the best in the market. OYO Bazar is a single stop online shop for any hotel supplies required for daily running of the hotel.”
so many hotels registered with oyo rooms, that demands for the daily essential product are going high. Oyo bazaar sells its product in bulk and much below in any other market rates. its is benefits to hotels point of view to buy products in cheaper rates from a single platform with assurance that they are getting genuine products.
a company set it’s margins range between 15-20% per hotel partner.
Currently, the product listed in 4 major categories including Linen, Toiletries, LED Light and Maintenance Service. minimum payout is must exceed RS.2000, buyer has to purchase more product that cost is more than Rs 2000, he can not purchase a single product.
10 vendors have signed up agreements with Oyo Bazar for supplying products to the Hotel at very competitive rates. OYO Rooms’ preferred logistics partners or the vendors themselves will take care of the logistics.
the company is also planning to expand its businesses in the field of providing loans to hotel partners, for which it is also in touch with financial partners to provide loans to hotel partners in order to help them expand their business.
The company has since then expanded to Mumbai, Bangalore and Pune and plans to setup over 500 SKU’s in the next two months. More product including cleaning supplies, crockery, bathroom wares and room and kitchen appliances will also be made available on the platform very soon.