Oyo launches customer membership program ‘Wizard’ at Rs 99
Online hotel chain OYO has launched a membership program aimed at rewarding frequent customers called ‘OYO Wizard’
Wizard gives its regular customers highly-rated and curated hotels to our loyal guests at the best price. The newly-launched program comes with unique benefits, including guaranteed discounts, upgrades and benefits and is currently available at an early-bird membership fee of Rs 99.
The membership entitles its members for 5% instant discount on current booking and instant rewards in the form of OYO Money. They also get 500 OYO Money valid for six months. With super OYO benefits, members will also get a 10% discount on their next stay at the same OYO hotel, while they have the option to avail 5% discount across all other partner hotels. OYO wizard members will also have access to several exclusive deals and benefits.
“OYO’s approach to hospitality – diverse brand portfolio, the maintenance of quality across properties, great design, thoughtful amenities – is why guests love us and have chosen OYO as their preferred accommodation across geographies. With 95% of our revenue coming from repeat and organic customers, we knew it was time to give back. OYO Wizard will enable us to take the OYO experience a step further by making it possible for us to engage with customers in a more personal and meaningful manner. We believe that this initiative is an important milestone in our efforts to streamline our customer offerings across our global hospitality network,” Maninder Gulati, Chief of Strategy, OYO, said in a statement.
These benefits are applicable across all of OYO’s portfolio including OYO Rooms, OYO Townhouse, OYO Home, SilverKey, Capital O and Edition O. The benefits will soon be extended to OYO hotels in international destinations like China, Malaysia and Nepal as well.
Apart from expanding its operations globally, OYO has also been expanding its portfolio and offerings to capture a larger market. Most recently, it acquired wedding banquet firm Weddingz.in, giving it entry into the wedding arrangement and management space which is believed to be a $40 billion in India and $500 billion market worldwide.
OYO is also reportedly scouting for funding and is in talks with two investor groups. One is a consortium led by Japan’s SoftBank Group (through SoftBank Vision Fund), which is already the largest stakeholder in OYO and the other is a US based group which is engaged in the travels business. This round of funding could see OYO’s valuation cross $1 billion and give it an entry into the much-touted Unicorn Club.