Be it a weekend getaway or a much-awaited vacation, the obvious choice for stay is a hotel. However, hotels can be expensive depending on your destination and comprise of 50% of your travel budget.
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If you are thinking of saving a bit extra on your hotel-bookings, then you can follow the tips and tricks shown below, and save extra bucks on your hotel deals:
So, you get to enjoy fairly low prices if you are booking your room a month in advance as the booking prices peak, a few days prior to the journey date. Therefore, if you already have travel plans in place, then go on and book your room. Who knows you might just get a special discounted price as well.
The OYO room’s business model functions in a similar way to the usual online aggregators. The only difference is OYO has built a reputation over time and enjoys the essence of a franchise business model. Given below is the way they conduct their business with:
OYO used to lease a part of the hotel and offered rooms to customers. However, that led to losses as the partners used to book their own rooms when they saw discounted prices on the OYO website. So, the business model was upgraded from aggregator to franchise, helping OYO maintain brand equity and this led to a 100% increase in revenues. Now they directly charge 22% revenue from partners, which vary according to the extent of services offered by OYO.
MakeMy Trip has been able to capture the market by implementing various changes in their business model like app development and numerous user-interface changes which help smoothen the operations of the business. MakeMy Trip has an inventory of 80,000 hotels and tie-ups with budget and premiere hotels, both in India and abroad.
According to reports, 50% of the revenue generation, comes from the hotel business. The revenue is generated based on profit sharing with the partner hotels. The constantly diversifying business model helps retain customers, by offering affordable holiday packages, flights, bus tickets and so on.
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