Hospitality firm Oyo is seeing new use cases for its hotels – as quarantine centers and as a place for COVID-infected patients and their close ones to live – as the second wave of coronavirus virus sweeps through India Infecting a record number of people in.
“With the pressure on hospitals right now, only people who are really sick and living in hospitals should be in hospitals. We are working with a lot of hospitals for extensions, which means their capacities are full, and people with mileage symptoms can be transported to hotels for care. Or for healthcare workers to be next to hospitals in Oyo, ”Rohit Kapoor, CEO of India and South East Asia.
He says: “We are working with Lady Harding, Ambedkar, Lok Nayak Hospital – dozens of them. We are talking to at least 50 hospitals and many corporate leaders who want to carry out mass vaccination campaigns. And it requires spaces. The whole organization is aligned to serve the society at the moment. “
Patients and their relatives living in Oios near the hospital, or toll plazas and other important service workers travel up and down rather than using their hospitals and risk contact with more people, some new use cases Which the company is estimating.
The last 12 months have been particularly humiliating for the hospitality industry and Oyo, as the SoftBank-backed hospitality firm retreated from the markets, restructuring its strategy in the thousands and in an epidemic-ridden world.
However, Oyo had been recovering steadily since December last year and its India business also broke down on earnings before interest rates fell and amortization (EBITDA), Kapoor reiterated.
“I want to say clearly that it looks pretty bad right now, but equally we have seen it ending in many countries. Whatever is happening in the country is not under our control but what we do for our employees, partners and customers is under our control. Access to healthcare advice and any type of counseling is necessary. For example, we have launched a 24/7 app-based doctor on the call helpline for all our employees, ”he said.
“We are very confident in our technology and product-supported cost structure. The board is comfortable and confident of our core ability to generate and generate profits. It has been proved in these four months, ”Kapoor said.
He did not specify how many people are using Oyo properties for quarantine or how it would increase occupancy, but the company also actively spoke to state governments to arrange isolation facilities to help government hospitals Has been
It also helps the company that saw the first wave of viruses last year, it is better prepared this time. “Whatever is happening in the country, it is challenging for many people, professionally and personally. We have seen the fact last year that we get help from some railings. There was no playbook last year. Oyo’s India and South East Asia CEOs said, “We are mentally prepared for the challenge.”
Kapoor stressed that instead of business, the well-being of its employees, and reassuring its customers, hotel partners and employees were of the utmost importance.
“We are super focused on the short term because we know that the long term is strong. The entire energy of the company is reassuring to customers, partners and employees. They need that assurance and the greatest priority, ”he said.
India reported 2, 95,041 new cases on 21 April, a fresh record with 2,023 deaths. If the situation worsens, Kapoor did not comment on whether Oyo might have to rethink the cost cuts and layoffs and called the prospect speculation.
He also did not comment on how much money Oyo currently has. In December last year, a Bloomberg report said that the company has one billion dollars in the bank, which means last, until it goes public at some point.
Kapoor is expecting things to get better in the next two months. “I think in eight weeks time, you will see that the markets will return again. I think once the cases are reduced and the population is more vaccinated, people will travel in a quicker way. They do not want them to be supported only.