It’s no vacation for the hospitality industry. Reeling from the Covid-19 pandemic, popular budget hotel chains OYO and RedDoorz have seen occupancy rates and revenues plunge up to 80% in Southeast Asia.
They’ve also been forced to let go and furlough hundreds of people, along with cutting salaries across the board. OYO declined to provide the actual number of affected employees, but said “a handful” were furloughed. RedDoorz told The Ken it has reduced the working hours of some staff, furloughed an undisclosed number, and laid off less than 10% of its workforce.
However, those affected told The Ken the tally is higher:
RedDoorz said the above figures are inaccurate, while OYO said the number of employees they furloughed is significantly less.