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OYO has taken a significant leap into the premium resorts and hotels category with the introduction of its latest brand, Palette. This strategic move by OYO aims to cater to the discerning needs of travellers seeking a luxurious experience at competitive prices. Similar to the diverse colours found on a palette, Palette offers a carefully curated selection of upscale resorts and hotels that promise to deliver a memorable stay for its guests.
The Palette category has been designed with the evolving demands of modern-day travellers in mind. Each resort within the Palette brand boasts elegantly designed rooms, serene spaces, and a range of modern amenities to provide a rejuvenating experience. Additionally, guests can relish fine dining experiences and partake in various recreational activities, ensuring a well-rounded and fulfilling stay.
Expansion plans
To commence this venture, OYO has launched ten Palette resorts as part of a pilot programme in cities like Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bangalore. However, the company has ambitious plans to expand its presence in this category by adding a staggering 40 more Palette resorts to its portfolio by the second quarter of the financial year 2024. The forthcoming expansion will encompass popular destinations such as Delhi-NCR, Kolkata, Amritsar, Shimla, Goa, Udaipur, Pune, Mussoorie, Srinagar, and Kochi.
Anuj Tejpal, the Chief Merchant Officer of OYO, explained that the decision to introduce the Palette brand was driven by the changing preferences of travellers who now seek unique and memorable experiences. Tejpal further emphasised that the positive response received for the existing ten properties was encouraging, and the addition of new destinations would enable OYO to offer a more comprehensive portfolio to its guests.
In addition to Palette, OYO already boasts several other premium brands under its umbrella, including Townhouse Oak, OYO Townhouse, Collection O, and Capital O. The company has ambitious plans to expand its premium portfolio further, with the goal of adding 1800 new properties by the end of 2023. This expansion will not only enhance OYO’s presence in the premium segment but also cater to the diverse needs and preferences of its growing customer base.
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