OYO recently announced that it has taken several initiative to support asset owners across the country. The company is reducing the burden of payments due and accrued, multiple charges have been forth last month onwards, including value-added service charges, 'Wizard' member- ship accruals among others, according to sources

"Under these initiatives, a total of Rs 24 crore discounts has already been offered to over 3,000 OYO partners and continues to impact several others," the statement said.

It also stated, "Partners whose financials are most affected by Covid-19 have been given steep take rate discounts up to almost 100 per centA waivers to support them throughout this tough time. Further, the company said that thousands of partners who wanted to become a part of OYO Secure, a financial product similar to an online wallet for simplified deal benefits and real-time visibility of their earnings, were offered support in terms of reduced joining amounts as well as a complimentary 30 per cent top-up from OYO for every recharge to the asset owner's OYO Secure wallet.

It has partnered with many lending institutions in India ranging from NBFCs, private sector banks, and new-age fintech companies to identify and facilitate adequate financing for hotel transformation, upgradation, and capital expenditure and working capital requirements.

Recently, OYO also launched a retention linked discount for certain sections of its asset owners. The discounts range from 50 per cent on base fees for April and May and an extended discount of 20-25 per cent across June-December, reports IANS.