Oyo Gets Boost for Program to Aid New Hotel Owners – India Report

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Oyo launched an accelerator program last year to support first-generation hoteliers. The credit facility boosts India’s hospitality industry.

Investment banker JP Morgan has extended a credit facility of INR 2 billion ($24 million) to hospitality chain Oyo, the Economic Times has reported. The funding aims to fuel Oyo’s accelerator program. 

Oyo accelerator program: The program, which was launched in 2023, seeks to provide financial support, mentorship, as well as access to technology to first-generation hoteliers. 

Last June, the company announced its plans to add 1,000 hotels in new markets as part of the accelerator program. The accelerator program currently supports more than 700 hotels.

Oyo’s expansion: IPO-bound Oyo has been expanding its business. Earlier this year, it announced plans to add 400 new properties to push religious tourism. Oyo’s premium travel brand Palette is also set to expand with self-operated hotels this year. After the company denied reports of withdrawing its long-awaited IPO, it is anticipated to conclude this year, though the company is looking at other ways to raise funds. 

RedBus Launches Report on Bus Industry

Online bus ticketing platform redBus has launched a first-of-its-kind data-based report on the bus industry in India. The company’s move aims to provide insights into the largely unorganized and fragmented sector. RedBus aims to release the report quarterly for industry stakeholders based on the information obtained from private bus operators that have partnered with it.

In its maiden report, redBus shared that 67% of online bus ticket bookings come from the non-metro regions in India. It added that the rapid development of roadways infrastructure in the country in the form of expressways can result in up to 200% increase in bus seat bookings. 

Ceremonial Flight of Fly91.in Flagged Off

The ceremonial flight of India’s newest airline Fly91.in has been flagged off by union aviation minister Jyotiraditya Scindia. The maiden flight of the airline departed from Goa’s Manohar International Airport (MOPA) and landed in Agatti Islands, Lakshadweep.

The airline announced that its operations will commence from March 18, between Goa and Bengaluru. The second route will commence on March 19 between Goa and Hyderabad. Flights between Goa and Lakshadweep will begin in April. 

Over the past 10 years, six new regional airlines have come up in India, aviation minister Scindia said during the inauguration of Fly91. He added that the domestic air traffic is expected to reach 300 million passengers.

MakeMyTrip Signs Agreement With Madhya Pradesh Tourism

Online travel agency MakeMyTrip has signed a Memorandum of Understanding (MoU) with the Department of Tourism, Madhya Pradesh. The collaboration aims to promote sustainable tourism in the destination. As part of the partnership, MakeMyTrip will promote homestays in the state in order to increase incomes of local communities, especially in rural areas. 

The collaboration also includes redBus as the official bus ticketing partner. The bus ticketing company will facilitate discovery of lesser known regions of Madhya Pradesh. 

MakeMyTrip, which is the largest online travel portal of India, has also partnered with the Government of Goa recently. It has also partnered with the Union Tourism Ministry to develop Traveler’s Map of India to showcase more than 600 destinations that are beyond the travel hotspots in the country. 

Vietnam Airlines to Operate Airbus A350 From Delhi

Vietnam Airlines has announced its decision to operate Airbus A350 from Delhi to Vietnam from May. Currently, the airline operates 14 flights weekly from Delhi and Mumbai to Hanoi and Ho Chi Minh City in Vietnam. The move to introduce the new widebody aircraft aims to enhance the passenger experience on this route. 

The flag carrier of Vietnam had increased the frequency of its flights between Delhi and Vietnam to daily, up from five weekly flights. As part of this increased frequency, the airline began operating four weekly flights between Hanoi and New Delhi, and three weekly flights between Ho Chi Minh and Delhi. 

Turkish Airlines Offers Free Mini-Vacation for Indian Travelers

Turkiye’s national carrier Turkish Airlines has launched its ‘Stopover at Istanbul’ program in India. The program would allow Indian travelers to explore Istanbul during their layovers when flying with the airline. As part of this initiative, such passengers having a layover of at least 20 hours would be given free accommodation in select partner hotels. 

Airlines have been enhancing their offerings to travelers in order to boost travel to their home countries. Earlier this year, Emirates introduced a pre-approved visa on arrival for Indian travelers flying with the airline. 

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