By Q2 FY24, OYO plans to have a total of 50 properties in its Palette portfolio. Credit: rafapress / Shutterstock.com.

Indian hospitality technology platform OYO has unveiled a new brand, Palette, entering the premium resorts and hotels category, news agency PTI reported.

According to the news agency, OYO has already launched ten Palette resorts on a pilot basis in Indian cities Hyderabad, Jaipur, Digha, Bangalore, Mumbai, Chennai and Manesar and intends to make available 40 more properties by the second quarter (Q2) of the fiscal year 2024 (FY24).

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OYO noted that the latest expansion will include properties in regions such as Amritsar, Delhi-NCR, Goa, Kochi, Kolkata, Mussoorie, Pune, Shimla, Srinagar and Udaipur.

OYO chief merchant officer Anuj Tejpal was quoted by PTI saying: “Today, travellers are seeking more than just a place to stay; they are craving unique and memorable experiences. 

“This paradigm shift, fuelled by rising disposable incomes, has prompted us to diversify our portfolio and introduce the Palette brand.” 

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He also added that OYO has received a warm response for the ten properties operating at present and adding more resorts will aid the company in offering a comprehensive portfolio for people.

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Apart from Palette, brands of OYO include OYO Townhouse, Townhouse Oak, Collection O and Capital O. 

By the end of this year, the company intends to include another 1,800 properties in its premium portfolio.

The latest development comes after OYO announced plans to add 500 new hotels over the coming three months leading to the ICC men’s cricket World Cup that is being held in India from 5 October 2023.