OYO to add 500 holiday homes in 2024 for digital nomads in Dubai
- OYO to add 500 holiday homes in Dubai in 2024
- Expansion plan to focus on emerging business and leisure hotspots such as Downtown, Business Bay, Jumeriah Village Circle, Arjaan and Dubai Marina
- Demand for holiday homes in Dubai expected to grow significantly after visa norms relaxation for digital nomads
- These homestays are meticulously curated to offer guests a blend of comfort, convenience, and a taste of authentic local hospitality
November 22, 2023, Dubai: Global hospitality technology company OYO has announced that it plans to add 500 holiday homes in Dubai in 2024 to meet the growing requirements of digital nomads seeking flexible and comfortable accommodations while working remotely. The new holiday homes will be strategically located across Dubai, ensuring proximity to key business districts and leisure hotspots, providing an optimal blend of work and relaxation for remote professionals. It includes business destinations such as Business Bay, Jumeriah Village Circle, Arjaan and leisure destinations such as Downtown and Marina.
OYO is planning a variety of holiday homes in Dubai that include premium apartments in downtown Dubai with Burj Khalifa view, canal facing holiday homes in the heart of business bay and in Dubai Marina. Most of the holiday homes will be equipped with facilities such as fully furnished bedroom and living area, a fully equipped kitchen with all appliances, large screen TV and Hi-Speed Internet along with parking facilities.
Dubai, renowned for its futuristic skyline, multicultural ambiance, and innovative infrastructure, has become a magnet for remote workers seeking a balance between work and leisure. OYO’s holiday homes initiative also aligns with its focus on promoting digital nomad program of the government to attract overseas travelers looking for long term stay in Dubai. The government had launched a remote work visa in 2021 that enables employees to live in the Emirates while they work for companies based in another country.
OYO already has a strong network of holiday homes across Dubai. It also has a wide network of homestays in Europe which has equipped the company with insights to understand guests’ requirements and enhance the experience of guests and asset owners alike. OYO will also ensure a consistent level of quality across all holiday homes to ensure that travelers will have a certain level of comfort and amenities. This can lead to positive reviews and repeat bookings, benefiting both the property owners and Dubai’s tourism industry.
Speaking on the expansion plan Karan Ashok, Head, OYO United Arab Emirates said “Digital nomads represent a significant segment of modern travelers seeking not just a place to stay but an inspiring, convenient, and productive living environment. We are excited to announce our ambitious plans to expand our holiday homes offerings in Dubai, ensuring that digital nomads have access to comfortable, well-equipped spaces that cater to their unique lifestyle and work preferences.”
Expressing happiness over his association with OYO, Anubhav Agarwal, Owner, OYO Home Olympic Park 4, Dubai Sports City said “My homestay has been associated with OYO since 2022 and I have benefitted from this partnership. It offers a great advantage over the traditional long-term rentals where revenue is restricted. OYO also ensures better upkeep of the property through a skilled operations team which is an added advantage.“
OYO has strengthened its unique two-sided technology platform focused on comprehensively addressing the requirements of hotel partners and guests. Its revamped technological product, like Co-OYO is now equipped to help hotel partners to design and run their own promotional offers to increase occupancy and support revenue maximization. It also shows its partner hotels, competitive data insights in a particular geographical cluster to support higher revenue generation for each hotel.
New hotels get access to OYO’s large customer base through its app and website, boasting 100mn+ downloads globally. OYO has recently increased its focus on guest friendly features such as ‘Pay at Hotel’, which provides the flexibility to pay once the guest check-in to the property.
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About OYO
OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate approximately 1.70 lakh hotels, homes and listings in more than 35 countries including India, Europe and Southeast Asia, as of September 30, 2022. For more information, visit https://www.oyorooms.com/ae/.
Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”).
The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.