Accordingly recently budget hotel chain Oyo Hotels has signed MoUs with State Bank of India and Bank of Baroda to extend support to budget hotels and creating jobs across levels. Meanwhile when signed under the aegis of the Pradhan Mantri Mudra Yojna, the MoUs will enable financial support for Oyo’s existing and potential hotel partners to be able to transform and standardize their properties.
Further Oyo claims that this opportunity will also allow it to spearhead the creation of thousands of jobs in Tier II and III cities by nurturing micro-entrepreneurs in the hospitality sector. Moreover these MoUs will help us in shortening the demand supply gap of quality accommodation by offering hoteliers a platform to transform their property and enhance the business by creating beautiful living spaces.
Jayant Chauhan, SVP Fintech, OYO, said in a
statement “In the past, partner hotels have witnessed an increase in revenue
and occupancy levels after becoming a part of OYO’s chain of hotels and on
average, in business cities, we have been delivering 80%+ occupancy”. Further Jayant
added, ‘As a category, over the years, budget hotels have been overlooked as
the preferred accommodation option and this may have been due to smaller ticket
values, lack of predictable, standardized services for not so known brands’.
Government of Andhra Pradesh signs MoU with Internshala, launches 'Youth for Andhra Program' Real Time Governance Society (RTGS) of Government of Andhra Pradesh has signed an MoU with Internshala to launch the ‘Youth for Andhra Program’ program. The program focuses on empowering the youth of Andhra Pradesh and shaping them into change makers at the grassroot level. 10,000 students across Andhra Pradesh will be hired under this program and will gain valuable knowledge about government policies and bureaucracy. The deadline to apply to the program is 25th February 2019.
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