Oyo is now a bigger name in hotel and housing market. OYO rooms plans to implement a digital register mechanism which will allow them to share their customer data in real time with the government. This may allow government to see in real time the guest information easily.
OYO is more popular among unmarried couples than families, thus this move really imposes a threat to privacy for them. Now they are expanding their market by entering into student housing market. Rohit kapoor, chief executive – new real estate business at Oyo told that they do not see student housing as a separate category, but as a sub-category. They are pretty serious about it (student housing), and they will be surprised if it takes more than a quarter to enter the space in India.
Oyo Life has emerged united of its prime brands, with the corporate expected to commit important capital towards its growth. While Kapoor did not provide a specific capital allocation plan, Oyo Life, which was launched barely six months ago, is expected to garner a significant portion of the $200million committed to the Indian market by the SoftBank-backed company.
The New Concept of Student Housing in India
According to WpLov, student housing as a concept is non-existent in India.
While access to accommodation facilities inside the field may be a most well-liked possibility for many students throughout their graduation amount, the amount of such hostels out there typically falls in need of the total requirement.
“India has about thirty four million students within the pedagogy area that is over double the dimensions of the advanced and huge student housing markets within the West… The ten leading states in terms of the number of students in the higher education space experience an unmet demand to the tune of 30%-60%, as per official statistics available,” according to the report, titled “Student Housing – A New Dawn in Indian Real Estate”.
According to Kapoor, Oyo Life is targeting over one hundred, beds within the prime ten Indian subway cities by the top of this twelvemonth.
“OYO Life is run under an exclusive inventory model, where we take over the entire building, tower and independent houses. We take fixed monthly contracts, and will be working with large developers and independent asset owners. These are going to be fully managed properties, where for the customer, OYO takes care of everything from maintenance, cleaning and Wi-Fi to furnishing of spaces,” Kapoor said.
The development comes soon after OYO closed $1.1-$1.2 billion Series E funding round, which saw the entry of a number of large strategic investors, including ride hailing majors Grab and Didi Chuxing, as well as Airbnb.
The company also launched OYO Life in Japan, partnering Yahoo Japan. Earlier this month, the joint venture – OYO Technology & Hospitality Co Japan – went live with 1,000-plus keys in Tokyo.
OYO is one of the biggest brands in the market of room supplying. The company is expected to make several advances in the way towards its growth. While the CEO did not provide any specific statement towards where it is going to advance, there are many things that can be suspected to be happening soon. OYO life, which was launched approximately six months ago is expected to take over the $200 million budget.
The concept of student housing is very non-existent in India. Although there are many cases of accommodation of students inside the campus facility is preferred but the accommodation of such falls short in the end.
The Estimations of OYO in this Housing Field.
According to the CEO, OYO is targeting to accommodate a large number of beds by the end of the year.
Student housing is a big topic in the housing accommodation market as India has a large population of students in the country. Students run the country in a way. With the growing population and condition of the current situation, there is going to be just a larger requirements for housing for students in the future. OYO targeting this area is not so bad after all because it is going to be a win-win situation. Students require a very urgent accommodation. Engineering, medical and some of the other major study courses can bring very good profit for OYO rooms.
Accommodation near big colleges and other big areas where students can stay can be a very important. Kota remains such a place because there are many students from many parts of the country that come there to take engineering entrance examination coaching. And these students require a place to stay. OYO can be of use here by accommodating these students with good places to stay and helping them find good paying guests and other accommodations. Student accommodation is a big market for OYO and jumping in it will benefit the company with great opportunities.