The firm currently has 27 hotels in London and 38 hotels in the Midlands region. Credit: Edvard Nalbantjan on Shutterstock.

India-based hospitality technology platform Oyo has registered more than 150% year-on-year growth in the travel agent network in the financial year (FY) 2023.

In the FY23 ended on 31 March, the company worked with more than 5,300 travel agencies in India, compared to nearly 2,100 in the prior year.

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The company has attributed the increase to its efforts in improving the overall hotel booking experience, commission payout process and competitive accommodation rates, as well as travel resurgence in the country.

Oyo India Business chief operating officer Varun Jain said: “Collaborating with travel agencies is not just about expanding our reach, it’s about cultivating a partnership that fosters mutual growth.

“They play a crucial role in our business growth by distributing our hotel inventory more efficiently to a larger pool of guests, understanding market trends and customer preferences and helping us improve our offerings and services.”

The platform has a strong global presence with a network of over 17,000 hotels worldwide.

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Earlier this week, the company announced plans to add over 50 properties to its UK portfolio this year.

The firm will focus on destinations such as Leeds, Brighton and Plymouth.

Oyo has more than 150 small hotels in 65 cities across the UK. Last year, new hotels were added in Otterburn, Folkestone, Solihull, Swansea, Crewe, Worcester, Kidderminster, Peterhead and Boston.

Currently, the firm has 27 hotels in London and 38 hotels in the Midlands region.

Oyo International CEO Gautam Swaroop said: “Our result-oriented tech stack has been a draw for many entrepreneurs in the UK who are looking to improve and scale their hotel business. With this expansion, we plan to enable many small businesses in the region so they can realise their full potential and manage their business with ease.”