Oyo to Service Partners as Occupancy Plunges Amid Lockdown

With Decreasing occupancy rates Because of COVID-19 lockdown, Resort chain and Space aggregator Oyo said on Monday it's taking a series of Steps to Encourage asset owners in Various regions of the country.

A total of Rs. 24 crore reductions are offered to over 3,000 Oyo spouses to reducing the load of obligations due and accrued.

At precisely the exact same time, tens of thousands of spouses that desired to be part of Oyo Safe, a financial product very similar to an internet wallet for exemplary deal advantages and real time visibility of the earnings, were provided support in terms of decreased linking quantities in addition to a 30 percent Nominal for each and every recharge into the asset proprietor Oyo Secure pocket.

Partners whose financials are affected by COVID-19 have now been given steep interest reductions up to nearly 100 percent waivers to encourage them during this challenging time, Oyo said in a statement.

"Despite the substantial financial pressures on the business, Oyo is dedicated to doing what it can to assist its partners throughout those testing times," said Sharad Saxena, Chief Supply Officer for Franchise Business in Oyo India and South Asia.