How did Oyo get started?

2013
OYO Rooms/Founded

Ritesh Agarwal, a college drop-out, always had the intention to start something of his own. At the mere age of 17 years, in 2011, he came up with the idea of Oravel stays which was later re-launched in 2013 as, what we know today, OYO Hotels & Homes.

What was the idea behind OYO Rooms?

OYO Rooms was nothing but an idea to create India’s largest chain of efficient, young, standardized rooms with an intention to build the coolest chain of no add-on rooms which might not have Spa, Gym etc like the star hotels but will live upto the basic standards & high expectations for prices like never before.

Who started OYO Rooms?

Ritesh Agarwal
OYO Rooms/Founders
Author: Ritesh Agarwal. Ritesh Agarwal is the founder and CEO of OYO Hotels & Homes. Travelling across India at the age of 17, Ritesh stayed in more than 100 bed and breakfasts, guest houses, and hotels to realize there was a massive dearth of affordable and good-quality hotels in the budget hotel category.

How did Ritesh Agarwal started Oyo?

Agarwal first attempted to combine technology with hospitality in his late-teens, when he launched Oravel Stays, an online portal for guest houses and vacation rentals. While the platform folded, Agarwal maintained the relationships he had formed with hoteliers.

Who funded OYO rooms?

Today, OYO has 100K+ partners globally who are running successful businesses by utilizing OYO’s proprietary technology, products, and revenue management capabilities for delivering trusted accommodations for guests.” JP Morgan, Deutsche Bank, and Mizuho Securities served as the lead arrangers for this financing.

Who funded Oyo rooms?

How much Ritesh owns OYO?

OYO founder Ritesh Agarwal has over 30 percent stake in the company.

Which country has maximum OYO rooms?

China
In China, we are now the largest single hotel brand with a presence in 337 cities and a room inventory of over 500,000 rooms across 10,000 hotels. We have seen a similar fast-paced growth in other regions in Asia as well.