‘Iska matlab khali couples ki entry sorted hai’ – Fans react to OYO adding 500 hotels in host cities during ODI World Cup 2023

Several host cities for the 2023 Men’s Cricket World Cup will receive 500 new hotels, according to global hospitality powerhouse OYO, which announced this on Friday. In order to accommodate the anticipated rise in booking demand, These will have to be added during the following three months.

The competition will be held in the cities including Hyderabad, Delhi, Dharamsala, Chennai, Lucknow, Bengaluru, Mumbai, Kolkata, as well as Pune from October 5 till November 19. Ahmedabad will host the championship game. These stadiums will be strategically positioned close to the new hotels. India, England, Australia, South Africa, New Zealand, Pakistan, Bangladesh, Sri Lanka, Netherlands, and Afghanistan are among the teams who are taking part.

“Travel demand automatically goes up whenever the dates for a marquee cricket tournament are announced” : OYO Spokesperson

According to OYO, there has been a considerable increase in demand throughout the event. The cost of airline tickets to host cities on match days has also skyrocketed.

An Oyo spokesperson told the media, “Travel demand automatically goes up whenever the dates for a marquee cricket tournament are announced-such is the magic and power of this sport that binds millions together. We want to ensure that everyone who is travelling from far away to watch their favourite teams has access to a comfortable and affordable accommodation.”

Previously, OYO recorded positive EBITDA for each quarter of FY23, the company’s first profitable year since its inception in 2012. The business anticipates that EBITDA will continue to be positive in FY24.

OYO updated their Draught Red Herring Prospectus (DRHP) in March of this year using the recently established confidential pre-filing method via the stock market regulator SEBI. According to a source familiar to the company, the corporation will adjust the issue size based on the current market conditions to around $400 and 600 million, with the entire amount being a main issuance to pay off the majority of its debt.

According to a release from OYO, the new hotels are going to be strategically placed close to the stadiums to make it simple for cricket fans from all over the world who are visiting to see their beloved teams in action to get there.

Fans react to OYO adding 500 hotels in host cities during ODI World Cup 2023 : –