When traveling, it can be difficult to find a room that is both comfortable and affordable. People can find such venues through a variety of organizations and enterprises. They work in a similar way. A room can be found anywhere on earth. Airbnb and OYO are two examples of this type of company.
Airbnb vs OYO
The main difference between Airbnb and Oyo is that Airbnb requires property or room owners to share their property or rooms with travelers, who in turn share money with the owners. Oyo used to book hotels and reserve the bulk of the rooms for a specific period of time. The room is then standardized according to Oyo’s requirements.
The hotel sector has been disrupted by Airbnb, the nation’s biggest peer-to-peer sharing platform for hospitality. Some have suggested that Airbnb rentals should be regulated like hotels and that Airbnb suppliers should pay occupancy taxes. Airbnb claims that their business model only connects hosts with short-term subletters that rent off their private property.
OYO is one of India’s most successful start-ups. OYO is an accommodation start-up in India that also happens to be the country’s largest hotel network, with over 300 locations. Not all hotels offering On Your Own Rooms service are operated or owned by OYO. Rather, OYO works with these hotels to ensure that they provide high-quality services to their visitors. The OYO system or application is used by these visitors or consumers to reserve their rooms.
Comparison Table Between Airbnb and OYO
|Parameters of Comparison||Airbnb||OYO|
Airbnb is a relatively new firm, having only begun operations in 2008.
|On Your Own Rooms or OYO, is headquartered in Gurugram, Haryana. Mr. Ritesh Agarwal, the founder, and CEO of OYO started the company only with one accommodation in Gururgram.|
|Audience||People or businesses who desire to list their houses or rental properties on the internet.||Guests or hotel proprietors|
|Front End||Airbnb is a website that assists travelers in finding accommodations that suit their needs. It can be used to pay for lodgings, such as homestays and homestays.||People are familiar with OYO, which is a website where they can search for hotels using various filters. However, this is only the surface of the Oyo business. Oyo is a hotel-only marketplace.|
|Categories||Vacation Rental||Hotel Channel Management, Travel|
|Stay Duration||There are no specific rules for departing a room after a certain date at Oyo rooms.||There is a 90-day rule on Airbnb.|
What is Airbnb?
Airbnb, which stands for Air Bed and Breakfast, is a website for promoting lodging, staycations, and holiday rentals. There are a variety of rental alternatives available, including apartments, motels, and hotels. Airbnb is a service that matches travelers with hosts in their area.
On the one side, the service enables users to advertise their available position and earn extra income by renting this out. Airbnb, on either hand, allows travelers to save money and engage directly with the town by renting experiences by offering by host families.
There are over 5.6 million rents available in 100,000 locations across 220 countries and territories. On the other hand, the corporation does not own any rented property. The corporation makes a profit strictly on the grounds of bookings. The serviced apartment’s owner offers the room for rent on the website and gets a fee for each booking.
Bookings can be made on the Airbnb.co.in the website or through the Airbnb mobile app. One of the things that set it apart from its competitors is the owner’s ability to identify common areas. If A and B possess a three-bedroom apartment, they are free to lease out the third room. The duration of the visitor’s stay may be brief or long, depending on the needs of the tourist or guest.
What is OYO?
OYO is a public network that seeks to inspire start-ups and small business owners with guesthouses and residences by providing full-stack technologies and services aimed at increasing revenue and easing processes, helping to bring easy-to-book, reasonably priced, and believed housing to customers all over the world.
Patrons operating over 157K motel and residential shops in over 35 countries have access to OYO’s 40+ interconnected products and solutions. Ritesh Agarwal, the first Asian city to be admitted into the Thiel Fellowship, launched OYO at the age of 27. The owners and employees of more than 157,000 stores use the OYO platform for all task areas of their operations.
OYO has a unique business model that allows customers to turn fragmented, unbranded, and underutilized catering investments into brand-name, digitized shopfronts with greater income generation potential while also giving them access to a wide variety of elevated shopfronts at affordable prices.
Customers can book stores directly through OYO’s D2C channels or indirectly through third-party OTAs. Discovery, smooth booking, pre-stay support, cancellation, digital check-in, and check-in and review services are all available through the OYO App. The OYO App was the third most popular travel app in 2020, with over 100 million downloads.
Main Differences Between Airbnb and OYO
- Airbnb is a very new company, having launched in 2008. OYO, or On Your Own Rooms, is based in Gurugram, Haryana. Mr. Ritesh Agarwal, the company’s CEO and Founder, began with just one lodging in Gururgram.
- People or businesses who want to utilize the internet to advertise their homes or rental properties in Airbnb, whereas in Oyo Guests or proprietors of hotels.
- People are familiar with OYO, a website that allows users to search for hotels using a variety of filters. Oyo is a marketplace for hotels only, whereas Airbnb is a website that helps travelers discover lodging that meets their requirements. It can be used to pay for homestays and other types of lodging. It also enables the provider of the property to determine a price.
- Airbnb is Vacation Rental, whereas Oyo is Hotel Channel Management, Travel.
- When it comes to departing a room after a certain date, Oyo rooms have no specific policy. The system works in a similar way to how a hotel works. There is a 90-day rule on Airbnb, however.
Airbnb is the owner of the property, their main customer, and their strategy was to build a platform that would allow them to earn hotel revenue with minimal friction. Oyo could take a page from Airbnb’s playbook and provide body in the business incentives for property owners, as well as reconsider whether their core customer is: consumers or property owners.
The cost and able to book policy are crowd-sourced – each owner of the property has complete control over their rates, the kinds of people who might stay there, the refund policy, and so on, ensuring that it is always optimized – people with first-hand understanding are much more likely to improve pricing than an algorithm.