Oyo Rooms Enters Student Rental Space; Partners With IIT Delhi, Aims For 100,000 Beds
Hospitality start-up OYO is India’s fastest growing long-term fully managed housing rental solutions player. Not just this, it has also secured the 2nd best and most widely used hotel-chains in China, carving a strong niche for itself. Also, it took the lead over Intercontinental Hotels Group, bagging the position of third largest hotel chain the world, in terms of room count in just a span of 6 years.
OYO has now confirmed its footprint in the student housing segment as well. It has just announced that OYO Life will be tieing up with marquee institutes like IIT Delhi and Plaksha University’s Fellowship program in Gurgaon and will provide end-to-end fully managed housing experience for students.
OYO Enters Student Housing Sector
It is no secret that the millennial today looks out for the best at the lowest minimum costs. The best part here is that these youngsters aren’t easily fooled and know the value behind a service.
With millennials fleeing towards elite cities for jobs and education, the rental housing segments, like Paying Guest (PG) services and shared flats have become very common these days. In continuation to this, Oyo has tied up with IIT Delhi and Plaksha University to provide end-to-end fully managed housing experience for students.
Not just this, Oyo has declared to provide affordable accommodations starting from price as low as ?6,500 -12,999 per bed, per month. It will be managing over 500 beds for the student community.
The main idea behind such a move by OYO Life will be tieing up with marquee institutes like IIT Delhi and Plaksha University’s Fellowship program in Gurgaon and will provide end-to-end fully managed housing experience for students. intake especially in institutes in metropolitan cities and the consequent shortage of on-campus hostel facilities.
All OYO LIFE buildings will be equipped with essential amenities like Wi-Fi connectivity, television, refrigerator, AC, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking.
How Will This be Helpful to Students
The targeted millennials and young professionals in search of fully managed homes on long-term rentals, at affordable prices will find these OYO Life rooms to be end-to-end managed, comfortable, with high-quality living experience that shall eliminate the hassles of finding, accessing and managing everyday housing.
OYO LIFE provides students a place to stay closer to their academic institutions. They are confident to grow in the student housing segment to scale 100K beds by 2019-end. OYO Life was launched last year in October and today has more than 500 buildings, 30,000 beds and is adding 5,000 new beds every month, making it one of the largest businesses for branded fully-managed housing for millennials in India.
As of today, it is present in 4 cities: Delhi, NCR, Pune, Bangalore and is rapidly expanding base to 4 more cities – Hyderabad, Chennai, Kolkata and Mumbai.