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Early this month, we reported that Microsoft has invested $5 million in OYO at $9.6 billion valuation. Today, Microsoft and OYO confirmed that they have entered into a multi-year strategic partnership to co-develop next-gen travel and hospitality products and technologies.
As part of this deal, OYO will adopt Microsoft Azure as its preferred cloud platform. OYO will start to migrate existing workloads to Microsoft Azure, adopt Microsoft 365 for collaboration and productivity and switch to GitHub Enterprise for accelerating development.
OYO will develop Smart Room experiences for travelers on the OYO platform, such as premium and customized in-room experiences for its guests. Using Microsoft’s Azure IoT, the experience will include self-check-in supported by a digital register of arrivals and departures and self-Know Your Customer (KYC) along with IoT-managed smart locks and virtual assistance.
Abhinav Sinha, Global COO & Chief Product Officer – OYO Hotels & Homes said, “We are excited to join hands with Microsoft in our constant endeavor to improve business opportunities for the small and independent hotel and home owners, and to redefine experiences for travelers. Our patron app ecosystem provides a ~1.4-2.4X lift in revenues for new hotels and homes that join the OYO network. We do this through our products, and application of (Machine Learning) ML and (Artificial Intelligence) AI, be it running millions of pricing optimizations per day to increase revenues or enabling users to book an OYO within seconds. Our technology and products have helped our patrons drive operational efficiencies and continuously improve the experience for our guests. This alliance with Microsoft will accelerate the deployment of our products in the hands of small businesses we work with, allowing us to create even more impact through an integrated technology ecosystem available on the cloud for businesses in the remotest corners of the world. For our guests, this alliance will mean more personalization, better choices, differentiated experiences and an improved guest experience in the future. Microsoft’s commitment is further strengthened by the equity investment in the company.”
“Combining the power of Azure with the tech and product stack developed by OYO, we are looking forward to accelerating innovation in travel and hospitality,” said Anant Maheshwari, President, Microsoft India. “It is inspiring to see how the Microsoft cloud is empowering digital natives like OYO to accelerate industry transformation and innovations, turning the challenges of a post-pandemic era into opportunities for the future.”