'Small is going to be the new big, wherein people will rethink a lot about going back to that 1,000-room hotel versus going to a 40-room niche hotel,' riteshagar, the CEO of India-based hospitality startup Oyo Hotels and Homes said
The comments by Ritesh Agarwal underscore the anticipation within the hospitality industry that the coronavirus outbreak will fundamentally change the nature of travel.
Oyo, founded by Agarwal in 2013 when he was 18, allows guests to book hotels through its mobile app and also franchises its brand and offers standardized amenities at hotels on its network. In the United States, where Oyo customers are primarily truckers, pharmaceutical reps and so-called essential workers, the company’s revenue per available room is around 92% of pre-coronavirus levels and OYO has seen record sales, Agarwal said.
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