The Co-living industry is rapidly flourishing, in fact, it’s going to completely reshape the hospitality market in the coming years. Many mobile application service provider companies are trying to jump into this sector with more robust ideas.
The hospitality sector is set to see a big change, it got a shot in the arm when investments in the sector were booming between 2005 and 2010. With immense private equity and bank funding, the new generation has changed the landscape of the hospitality sector, therefore, it has become more advanced and soothed
We all are aware with the OYO as this has become an inseparable part of the hotel industry. Today, it covers 18,000 properties in 500 cities around the world and has earmarked $950 million to bankroll a multi pronged expansion across Asia over the next five years. So this could be your startup idea as still, some people find trouble in searching fully-furnished room to stay in a new city.
A Brief History of OYO
OYO, OYO rooms or Oravel Stays is India’s largest hospitality company, founded in 2013 by Ritesh Agarwal. Today OYO is ruling in the market of China, Malaysia, Nepal, UK, and the USA and has become 3rd largest hotel brand in China. The brand has launched various new products in the market including OYO Living, SilverKey, OYO Homes, and Palette.
According to STR, “OYO has collected 515,000 rooms, making it the world’s eighth-largest hotel chain by rooms under management”.
Top Players of the Hospitality Market
Notable hospitality networks;
- OYO Rooms
- Friendship Force International
Features of OYO like App
- Profile creation and management
- Search option
- Invite and Earn
- Book a Room
- Payment option
- Check-in, Check-out option
- Booking History
Hotel Vendor Panel
- Account creation and management
- Booking Management
- Room Management
- Track Booking
- Upgrade/Degrade Amenities
- Customer Review and Rating
- Customer Management
- Booking Management
- Manage discount and coupons
- Regulate Payment Transaction
- Manage Promotional Activities
- Hotel Management
These are the simple features of co-living space mobile application. Recently OYO has introduced various new functionalities to provide a better living experience to users such as;
- OYO Money and OYO Rupee
- OYO Wizard
- OYO Captain
- OYO Assist
- OYO SOS
- Deals for You
If you want to develop an app like OYO with all these latest features, it won’t help as OYO already established itself in the co-living market. Therefore you have to think out of the box to come up with a new approach to enter in the market and get the hype like OYO.
Let’s get into the technical aspects of the mobile app design and development and see what framework and languages lie under OYO app tech stack.
OYO Mobile Application’s Technology Stack
- Framework: Android, iOS, and Website
- Map: Google Map API
- Interface: Rest API, Slim Framework
- Database: MongoDB, MySQL, Redis
- Payment Gateway: Paytm, Mobikwix
- Web Server:Nginx
- Real-Time Analytics: Hadoop, Spark, Bigdata
- Traffic Analysis Tools: Google Analytics, Mouseflow
Business Model of OYO Rooms
When it comes to how to start a business like OYO, you can go with two different business and revenue models:-
- Aggregator Model
In this model, OYO Rooms partners with other hotels across the world to provide rooms to the customers under their own brand. OYO only partner with those hotels which meet certain guidelines such as the standardization of basic amenities, the standard of rooms, staff quality, security, pricing, location, etc.
- Revenue Model of OYO Rooms
Currently, OYO is working on this business model. Under this model, OYO used to rent out the hotels at a predefined price and offered them to the users at a take-up rate. This is a commission based revenue model and this commission does vary according to the services provided by the brand.
Those of you who live in largely populated cities where parking a car is mess and city is full of never-ending traffic will always love to use taxi services. Thanks to companies like OLA and Uber, who has started taxi booking through the convenience of mobile application wherein we need not worry about traffic and parking space, we just have to sit back and relax and enjoy the experience of a personal car without bearing the expenses of a personal car. Therefore many business owners are running towards building a cab booking app. The app stores are flooded with the car booking apps in last few years. But you are of course reading this article in order to find out the actual cost of building a cab booking mobile application, and therefore we have to first understand the approaches to business process and most importantly functionality of the mobile application. Obviously, the cost will all depend on the level of functionality you want to implement in your mobile application on the first phase. So let's discuss some major points first!
How does the app work?
The app can be elaborated in simple steps as : A user request for the car on the basis of availability and type required by the user. The details are automatically sent to the nearest driver. The driver has the option to either accept the ride or decline it.If he declines it, the request will be passed to another driver. Custom can track the car on a real-time basis and can get to know about the estimated time of arrival. Custom can pay either in cash or thorough cashless system as per his convenience. Another good feature is custom can estimate the total journey price well in advance. Lastly after ride completion, driver is rated by the customer on the basis of numerous factor. When we are talking about the app like Uber or OLA, always keep in mind that these companies use two different kinds of apps and that is Customer app and Driver app.
Driver App Allows :
- Editing personal profile Going off duty and on duty by the app .
- The only on-duty driver will be displayed on maps.
- Activity alert. The alert to the driver if he is chosen with the estimated fare.
- Calling to passenger directly through the app .
- Generating daily/monthly reports of past booking and earnings.
Customer App Allows:
- Manage personal information Book a cab Call the driver Getting an estimate of ride fair Track the approaching taxi Automatic payment execution Rating the driver
- How much does it cost to build an app like Uber or OLA? Well, it totally depends on the level of functionality as required by you and the complexity of those functionalities.
- Location & Coverage (Maps, GPS, Routing ) GPS location is generally used to fetch location on a real-time basis, the user can easily browse from the list of the available car at the location nearby to him, and can locate the car with map integration.
- A routing server is required for getting various distance and routes information.
- The easy to book looking app for the user to have more than unimaginable functionality behind the scenes.
To implement registration and profiles, developers usually need 30 hours.
Communication & Notification
To ensure the privacy of the user and in order to provide regular updates to the user, push notification in the app , SMS and email shooting to the user has been introduced by the cab booking companies to ensure customer convenience. The passenger is able to communicate with the driver as soon as he accepts the rides without even asking the phone number.
Integration of push notification required 40 hours, and SMS and email integration require additional 50 hours, to the total of 90 hours.
Designing can take between 72 hours to 180 hours which ranges from a simple design to an eye-catchy one. Let’s consider an average of 100 hours for average app building.
Wireframing with taking 28 hours The user interface will take 45 hours User experience will take 27 hours Our cost starts from $ 40 per hour and hence an app like Ola or Uber can be built within $ 25000, depending on the requirement.
There are a few more things that need to be considered while having an app idea of creating an app like Uber or Ola.
You must ensure all the functionality as required by you before handing the project to a mobile app development company that is developing an app for you. Contact us now for more information.