Since its inception in 2013, the app like OYO Rooms brought a sea change to the lives of people entering into a new city or country. It became the bridge between people searching for a suitable accommodation to spend the night or days and hotels & guest room providers in India along with nearly 600 cities of the world where OYO Rooms has an appreciable presence.
In the past people from all walks of life whether students looking for studying or internship options, individuals making a career shift for better opportunities, someone starting a new business venture in a different city, the need for a space to rest has hassled many of us because of the dearth of knowledge of the right property agent, suitable food outlet, inquisitive landlord of place with the bare minimum of necessities – all due to the pressing need of urgency as night approached; budget constraints and paucity of the right contacts or an app like OYO Rooms.
Despite people being mobile savvy, there wasn’t any option of facility available before 2013 when OYO Rooms entered the combined-living market with its low budget apartment sharing, hotel rooms, and etc. facilities for the general public. Initially it started with the Aggregator Business Model and currently works on the Franchise Business Model wherein hotel owners & landlords associated with OYO rooms have to follow strict guidelines, provide quality services & discount plans and pay OYO rooms with revenue of 90% for hotel operations.
This also opened a broad spectrum for start-ups and businesses to enter the co-living market and create an OYO like app for expanding their business growth or getting into this new venture after noticing its stupendous success graph. OYO Rooms has the backing of some of the prominent venture capitalists such as Sequoia Capital, Softbank Group, Light Speed India and Green Oaks Capital.
Snapshot of Venture Capital funding to the Co-Living Industry in 2018
- Zolo Stays – Mumbai based Co-living business took a Series-C funding of $30 MN from IDFC Alternatives, Nexus Venture Partners and Mirae Asset.
- CoLive raised $1.8 MN through Ncubate Capital Partners
- Grexter got a Pre-Series A funding of $1.5 MN from Venture Catalysts
- Stay Abode also partaked in an additional Pre-Series A funding through Incubate Fund, Akatsuki & Voyage Group.
India’s co-living market till last year was estimated at a market value of $120 Million which is expected to rise steeply to nearly 20 times in the next couple of years. Those interested in getting developed an app like OYO Rooms must first become aware of its easy to use features and cost estimations which have been detailed in this article for your ready reference.
Features of OYO Rooms like App
- Easy registration & login to the app
- Convenient Hotel search via city, locality or landmarks
- Compare hotel room prices & facilities
- Easy to modify booking & cancellation
- Check bookings
- Payment options through debit/credit cards, mobile e-wallets & net banking
- Account modification features
- Invite friends
- Call Us for any assistance
Salient Features of an app like OYO Rooms
The app like OYO Rooms is designed and divided into 3 panels. Read on to know more about them:
- Account Creation & Management
- Room Search Option
- Book a Room
- Payment Procedure
- Invite & Earn
Hotel Vendor Panel
- Account Creation & Management
- Booking Management
- Room Management
- Track changes
- Upgrade/Degrade Amenities
- Reports & Analytics
- Customer Reviews & Ratings
- Supervise List of Hotels & Rooms
- Manage Discounts & Offers
- Regulate Payment Transactions
- Hotel Management
- Customer Management
- Manage Bookings
- Manage Promotional Activities
You can add other features that the app like OYO Rooms introduced at a later stage, such as:
Members Loyalty app to offer discounts and attractive deals for continuing loyal customers
For depicting your earnings through referrals of the app to relatives and friends
Shows the amount earned while availing a particular booking order for room.
This is a self-service feature of the app like OYO Rooms . It assists you in getting acquainted with the various functions of using the app such as booking or rooms, modifying booking, refund claims, booking policies or registering a complaint due to inefficient service in just a few taps on the OYO Rooms App .
As the name suggests, this feature helps in hiring a particular city’s OYO guide / representative who can guide you all through your stay – whether you need to get an exact review of the hotel you have booked, the state of amenities and facilities provided, places to visit, transport options, best dining outlets in the city, to name a few.
This feature is synonymous with safety related concerns and to get help when required.
OYO Deals for You:
you can check on the various deals and exclusive discount options offered by OYO rooms hotel partners & their associate banks and service providers.
Cost Estimation Factors for developing an app like OYO Rooms
The cost estimation for developing an app like OYO Rooms depends on various factors such as project management, mobile app design, html integration, API and database management, quality analysis and testing, development of different panels related to Owner, Super Admin, Sub-Admins, Users, Hotels & other associates. Another important point of consideration for development cost depends upon the features you choose for the app, the technology stack, development team, hourly price and total time required from start to deployment. The last but the major cost deciding factor is whether you are interested in only iPhone app development or Android app development or Website development or do you want all the platforms to be developed. Android App development is relatively more costly than iPhone App development for an app like OYO.
Mtoag Technologies is in the mobile app development business since nearly 11 years in India and USA. We are efficient in developing an app like OYO Rooms enhanced with the latest and innovative features for all mobile platforms such as iOS, Android and also Web applications. Feel free to confer with us and get the best solution at competitively priced options to suit your budget and business idea. We can be contacted through our contact form or contact details given on our website www.mtoag.com .