After OYO Rooms its time for OYO Bazar – an online marketplace. OYO Bazar,a one-stop shop for hotels to procure daily essentials required to run their business, to boost loyalty among its partners and maintain margins.
“As the market matures, hotel partners will look for more support from a single partner they work with.The intention behind OYO Bazar is not to become an ecommerce company but to become a preferred supplier for their partners”.
According to Ritesh Agarwal , The CEO of OYO Rooms,the idea behind the online marketplace is to help retain hotel partners and enable long-term value.
OYO Rooms sets up OYO Bazar, a one-stop shop for hotels to procure daily essentials.About 10 vendors have signed agreements with OYO Bazar for providing hotel supplies in a certain price range, maintain quality standards and deliver products to hotels on time. OYO Rooms’ preferred logistics partners or the vendors themselves will take care of the logistics, executives said.
The company is also planning to expand to other businesses such as providing loans to hotel partners, for which it is in talks with financial services providers.
OYO Bazar was launched in March with 180 stock keeping units or SKUs in three product categories – linen, maintenance services and LED lights – and was initially piloted in Delhi and Gurgaon.
The company plans to expand the online marketplace to 500 SKUs in the next two months with more products such as cleaning supplies, crockery, bathroom wares and room and kitchen appliances.