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Role of OYO Rooms to Predict the Pattern of Customer Satisfaction Journal of Interdisciplinary Cycle Research ISSN NO: 0022-1945 Role of OYO Rooms to predict the pattern of Customer Satisfaction Mou Roy Asst. Professor, School of Hotel Management Siksha ‘O’ Anusandhan, Deemed to be University, Bhubaneswar Tel. - +91-9438134430 email id – [email protected] Harkirat Bains Professor, SOTHSM, IGNOU, New-Delhi Tel. - +91-9669065923 email id – [email protected] Abstract Accommodation industry is one of the fastest growing industries around the world.. It is very important for the hotel to provide the best accommodation experience for the guest in order to attract & retain the guest. OYO is today the world’s third largest hotel chain, which is an unbelievable achievement in a matter of less than 5 years. The purpose of this paper is to identify the satisfaction level of the customers staying at OYO property, where the red & white OYO sign means that they are assured of a certain quality of accommodation at a price that customers can afford. The researcher has made an effort to gather information that is required to analyze the unique selling point, the mantra behind the success of OYO rooms emerging out of innovative use of technology & marketing principles. To understand the demands of the customers, the service providers have to design their services accordingly in order to attain maximum possible satisfaction of the customers. The study aims to provide with various suitable & business related suggestions to the service providers in order to make their services more efficient & effective. The data was collected from guests who have visited Bhubaneswar, India, either on a business trip or for holidaying. 150 questionnaires were distributed among the respondents, but, only 100 valid questionnaires were retained for analysis. The contribution of the study is that it developed an insight to understand the customers’ attitude in online hotel booking services. Keywords – Accommodation, hospitality, customer, satisfaction. Volume XI, Issue XI, November/2019 Page No:527 Journal of Interdisciplinary Cycle Research ISSN NO: 0022-1945 Introduction India is a legendary land of different people, different religions, various customs and having beautiful, charming snow-clad mountains, Golden sea beaches, Himalayas, deserts, backwaters, salt water lakes, wild life, sanctuaries, dark dense forests, mosques, temples, churches, heritage sculptures etc. but still India is a paradise of tourist destiny. The travel & tourism industry is highly fragmented in terms of demographics & cultural norms. This culture is marketed by 'individualism' & 'use of technology'. The members of this segment are preferably self managed & keen in searching for best prices, gained through experiences. Due to the demand for the rooms, several independent & chain brands have entered the market. With a mission & vision to bridge the gap in the hotel industry, OYO has come up with a unique style of offering ‘room experience' to every individual, whether a leisure traveller or a pilgrim traveller across the country. OYO rooms are basically functioning through network technology for budget class hotels. The company functions on behalf of budget class hotels like Ola does for hiring cabs. Rooms are designed with minimum basic facilities like - free Wi-Fi, air-conditions in rooms, complimentary break-fast, hassle free Arrival & Departure procedures. This procedure is adopted specifically for the backpackers, including both domestic & international tourists. Basically OYO is an inventory light booking site that does not possess any property of its own. It focuses on marketing, promotional activities & Total quality management for the hotels which they have tied up with. They normally work with small hotel owners, to standardize the facilities & amenities & also conduct total quality checks every 3/7 days with trained & skilled staff on etiquettes, manners, and with a unique provision of cash benefits, i.e. an incentive when guests give them feedback with good star ratings. Their property management systems handle the inventory, procuring & generating supplies & demands & moulding the prices accordingly. And for all these activities & functions, the company charges a meagre commission of 15% to 29% on every booking. It aims to target mainly on frequent & budget class travellers who gives less importance on the quality aspects. Thus, OYO has created a name for itself in the competitive market as 'standardized budget class hotels', which is shortly termed as aggregators, and facilitates to attract more customers on a regular basis, considering a budget value. It aims to create a value to the company, which in turn gives more & more customers on a regular basis, & which is the ultimate motto of the company. This system ultimately leads the company to establish itself as a brand which resulted in attracting the customers. Discounts are being offered to attract the frequent travellers on a regular basis. Volume XI, Issue XI, November/2019 Page No:528 Journal of Interdisciplinary Cycle Research ISSN NO: 0022-1945 Now this system of 'OYO money' from where discount gained are transferred to wallet and in turn the customers can use that OYO money, during their next visit to any OYO room in any part of the country. This system helps the company to retain the customer as a life time customer, which is a unique policy of the company. OYO focuses on using social media as a platform that helps the company's name to float in a positive manner. This promotional policy helped the organization to reach the ultimate goal. It all started in 2012, as Oravel stays - a website which was exclusively designed & programmed for listing & booking of budget class accommodation. After three months, with rigorous research, Oravel was pivoted to OYO in 2013. Thus, OYO Rooms formed a network of budget hotels in India that partnered with affordable hotels to provide similar experiences across various cities of the country. The headquarters of OYO rooms is located in Gurgaon, Haryana, India. Presently, the network is being operated in more Indian towns/cities, besides, China, Nepal & Malaysia. OYO rooms have been recognized as one of the best online hotel networks in India. It has 4,50,000 listing in 500 cities in India, Nepal, Malaysia, China, United Kingdom, USA, Saudi Arabia, Philippines, United Arab Emirates, Japan & Indonesia. It does not have any hotel of its own. It offers standardised & comfortable stay and experiences at a reasonable rate. Mr. Ritesh Agarwal, the Indian Entrepreneur had utilized the golden opportunity that became available, where million of citizens come to a common place, through the electronic media, i.e. Smart phones & computers. OYO rooms was the first to fix the problem of standardization and thereafter branded India's unbranded budget hotel segment. OYO's innovative use of technology in hospitality Industry has brought huge investments in the sector. In India, OYO rooms currently operates in all major cities of the country - Delhi, Gurgaon, Bangalore, Hyderabad, Mumbai, Goa, Chennai, Kolkata, Bhubaneswar and the list goes on, as its expanding. Thus, OYO rooms are available in major metros, commercial hubs, leisure destinations & pilgrimage towns. The Entrepreneur raised $20 million (Rs 125 crore) from San Francisco based Greenoaks Capital & existing investors Sequoia, DSG Consumer Partners & Light Speed Ventures. Thus, to summarize, OYO rooms is an Indian budget hotel with hospitality brand. It is rated as budget hotels/guesthouses, that made inventory discoverable & to be booked online. Its branding provides a franchise – like consistency of the product. Volume XI, Issue XI, November/2019 Page No:529 Journal of Interdisciplinary Cycle Research ISSN NO: 0022-1945 Literature Review Customer satisfaction is the major factor in any organization for sustaining in present global market. The satisfaction level of Customers is influenced by various attributes & dimensions. Customer satisfaction is defined by many individuals in different manners. An organization fulfils a customer's needs, requirements, motives & desires in respect to his expectations, before receiving the products/services (McCarthy & Perrault, 2002). However, to summarize, Customer satisfaction can be defined as the difference between the expectations before receiving the services/products & perceptions of the customers after receiving the services/products. Customer satisfaction mainly depends on the perceived value to which the customers have a concern for a product/service (Kotler & Armstrong, 2004:2009). Customer satisfaction can focus a person's feeling of happiness/displeasure, pleasure/disappointment that results after experiencing a product's perceived performance or outcome in comparison to the expectations. Liu & Yen (2010), has stated that Customer satisfaction is a situation when customers receive more benefits than their investment. Customer satisfaction is attained when the value invested for a product or service results in more benefits. Fourner & Glenmick (1991) in their experiment concluded that the concept of satisfaction is being satisfactorily justified if the expectations result in positive impact. From the customer's view point, expectations are the referral points, on which a customer can judge, evaluate & express their views about the service/product experienced. Customer satisfaction starts when a customer comes in contact with an organization and continues to experience throughout the entire lifetime cycle (Reicheld, 1996). Basically, the hotel
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