OYO Rooms has launched a solution called ‘OYO for Business’ for corporates and business travelers. Through this, company travel desks can create a separate profile and manage travel expenses for employees and set budgets for rooms. Employees can toggle between personal and professional profiles on the app and book rooms on OYO and get approvals for budgets.
OYO mentions on its blog that this was done to bypass lengthy approval processes in offices where prices for hotel rooms would change by the time an employee booked a room. OYO for Business also allows travel desks to set reminders for employees when they are approaching the limit of their budgets. To make reimbursements easier, it generates invoices to employees and the travel desk when they check out of the room. Rooms which are rated above 4.1 to 5 are eligible for OYO for Business, the blog added.
OYO currently claims that 4,500 companies use business profiles, including ITC Limited, Bharti Airtel, HCL Technologies, Tech Mahindra, Ernst & Young, Bennett Coleman & Company, AMW Motors, Hitachi and start-ups such as Zomato, Delhivery, Grofers and IndiaMart. It mentioned that it began a pilot six months ago where more than 1,600 companies signed up for the service.
International expansion and IRCTC tie up: In January, OYO Rooms started international operations and forayed into Malaysia. The company added that it is looking to expand to other countries in South-East Asia, Africa and South America.
Funding: In August 2015, OYO Rooms raised $100 million in a funding round led by SoftBank group and participation from existing investors Greenoaks Capital, Sequoia Capital and Lightspeed India. In March 2015, it raised $20 million in a funding round led by Greenoaks Capital and other existing investors.