Oyo Says It's Committed to 'Growing the Right Way'

Oyo issued a statement on Saturday following allegations in an article in the New York Times.

By Indo-Asian News Service | Updated: 6 January 2020 11:16 IST

Oyo Says It's Committed to 'Growing the Right Way'

Oyo issued a statement on Saturday following allegations in an article in the New York Times

Highlights

We are subject to external audits to ensure proper compliance: Oyo
"We work hard every day to ensure that our values are upheld"
Oyo's growth was fuelled by questionable practices: NYT report

Hospitality chain Oyo said on Saturday that it is committed to "growing the right way" by meeting the needs of property owners and guests.

Oyo issued a statement on Saturday following allegations in an article in the New York Times which said the "Softbank Jewel in India" is facing toxic culture and troubling incidents.

"While Ritesh Agarwal's Oyo aims to be the world's biggest hotel chain, its growth was fuelled by questionable practices, employees said," as per the report.

"We are committed to growing Oyo the right way -- by meeting the needs of property owners and of the guests we serve together. We work hard every day to ensure that our values are upheld by thousands of committed employees around the world, and we are subject to regular external audits to ensure proper compliance and adherence to our Code of Conduct," an Oyo spokesperson said in the statement.

"With regard to complaints of a small section of property owners in India whose payments are disputed, multiple escalation mechanisms exist and we continue to provide resolution," the statement read.

"We are also investing in technology and in building stronger partner support teams to ensure reconciliations happen faster. We expect all hotel owners to partner in delivering a superior guest experience.

"We will also continue to utilise the provisions in our contracts that allow us to incentivise and recognise thousands of owners who consistently deliver high-quality guest experience," the hotel chain said.

Sources said the instances of holding back payments were incorrect and present a one-sided evaluation of the situation.

"There is an automated reconciliation for payments transfers in the first week of every month and Oyo has committed to an 18 percent interest pay-out in case of any delays therein, provided there are no discrepancies. We have been engaging with our asset owners on a one to one basis, and to address concerns, if any," the statement said.

Oyo Found to Use Questionable Tactics to Grow Its Presence

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