Year-end travel gets more affordable in 2017
OYO’s analysis reveals that tariffs in its hotels across top leisure destinations in India are 6% lower this December than last year. This is in line with the company’s mission of making quality living spaces more affordable for travellers. While hotels in a majority of holiday destinations have become more affordable than before, there are some destinations witnessing higher tariffs, due to sustained traveller interest and constraints of quality hotels.
The data indicates that room tariffs have come down in Darjeeling (29%), Srinagar (23%), Kovalam (22%), Lonavala (16%), and Jaisalmer (15%) due to high demand.
Hill-stations witnessed the greatest drop in tariffs, thanks to emergence of new guest houses and alternate branded hospitality accommodation. Kasauli and Gangtok tariffs are nearly 30% lower, while Dharamshala (-13%), Lonavala (-16%) and Ooty (-10%) are between 10-15% lower than tariffs at the same time last year. On the other hand, Mount Abu (30%) and Pachmarhi (33%) are charging 30% higher than last year.
Pilgrimage destinations on the whole have seen stable tariffs. Notable exceptions are Vrindavan (+7%), Puri (+9%), Rameswaram (+8%) and Mysore which witnessed the steepest increase at 18%. Tariffs in Shirdi, Aurangabad and Ajmer went down by 20%.
Beach towns on the whole have also seen tariffs go up, led by Mahabalipuram (22%), Kanyakumari (14%) and Goa (13%). Alleppey (-17%) and Kovalam (-22%) witnessed the steepest drops.
OYO has done aggressive capacity addition, making hospitality affordable for the masses. The increase in affordability has led to higher occupancies wherein the start-up has created value for its hotel partners. Despite aggressive pricing model across the network, OYO has delivered higher-than-industry occupancy of 80% across its network.
With hotels in 230-plus cities, OYO is India’s largest hotel network that has recorded more than 5 million check-ins till date. Backed by its cutting-edge data science and pricing technology, OYO also identified the most-expensive and most-affordable localities for budget hotels in top travel destinations.