OYO Sets up Fund to Assist Southeast Asia Partners Affected by COVID-19
Southeast Asia’s largest hotel chain allocates US$200,000 for COVID-19 aid
Marks the 2nd fund by OYO in Asia following the setting up of a dedicated 1mn+ RMB in China.
OYO in Southeast Asia has announced that it will be setting up a dedicated fund to support its partners in the region and their families that have been affected by COVID-19.
Chief Executive Officer of OYO Hotels & Homes Southeast Asia, Japan & Middle East Dr. Mandar Vaidya said the fund amounts to US$200,000. This financial assistance comes after a dedicated fund of more than RMB1 million was allotted for China.
Mandar and other members of the leadership team for Southeast Asia have also pledged to donate a portion of their salaries for February 2020 to the cause.
In a note to partners in Southeast Asia, Mandar said, “OYO is deeply concerned about the spread of COVID-19 and the impact it has on people and businesses across the region and the world. We stand in solidarity with all OYOprenuers and our partners in the region. Our responsibility as #TeamOYOSEA compels us to extend our full support to everyone connected to OYO as we navigate through this difficult phase.”
“OYO in Southeast Asia has benefited immensely from the support we have received from the people in this region. The fund is our way of returning the love and support we’ve received, which we hope will go some way to help our partners recover from the effects of COVID-19,” he added.
OYO is committed to changing the way people live by offering great quality living spaces at affordable prices in the best locations around the world. The full-fledged hotel chain brings its successful model of combining design, hospitality, technological expertise, financial acumen and operational capabilities globally to revolutionize the fragmented and legacy-driven budget hospitality space by empowering small and independent asset owners with revenue management efficiencies, operational capabilities and technology that enable them to compete with big hotel chains.
Globally, OYO is present in 800 cities across 80 countries. In Southeast Asia, OYO has more than 2,500 franchised and leased hotels across Malaysia, Indonesia, the Philippines, Vietnam and Thailand in over 250 cities.