Launched in 2013, OYO is India’s largest hospitality company. Its network currently spans over 230 Indian cities including all major metros, regional commercial hubs, leisure destinations, and key pilgrimage towns. It also has an international presence with hotels in Malaysia and Nepal and now they are coming to Europe ( Germany,Spain, UK) The company’s vision is to become the most preferred and trusted hotel brand in the world. in 2023, than the Founder willl be 28!
OYO was founded by Ritesh Agarwal, the first resident Asian to be accepted to the Thiel Fellowship (started by Paypal founder Peter Thiel). He was featured in Forbes 30 under 30 in Consumer Tech (2016) for creating a global disruptor. OYO was recently chosen as India’s Most Promising Hotel Network (HolidayIQ Better Holiday Awards 2017) and has received several accolades including Express IT Startup of the Year Award (2015), NDTV Dream Chaser of the Year (2016) and IAMAI Digital Startup of the Year (2016).
It was recognized by Business Today as among the Coolest Start-Ups in India (2016) and ranked by LinkedIn as one of the top employee attractors in India two years in a row (2016, 2017). OYO is backed by leading global investors, including the SoftBank Group, Lightspeed India, Sequoia Capita, Greenoaks Capital, Hero Enterprise and China Lodging Group.
As Skift reported, among other things, Oyo has improved by three positions from the sixth largest chain with 636,000 rooms in April to the third largest with 850,000 rooms in June. In just two months, according to Oyo, they overtook Accor, Wyndham and IHG and advanced to third place. To reach the top, Oyo has to outdo Hilton and Marriott International.
However, this does not seem to be a problem for Oyo’s founder and CEO Ritesh Agarwal, who wants to bring the budget chain to the largest hotel chain by 2023 in terms of size, sales and m
OYO revolutionized the fragmented and legacy-driven budget hospitality space in India by enabling standardization of services, amenities and in-room experience. Through use of its proprietary apps for inventory-management, room-service, revenue-management and customer-relationship management, OYO has delivered predictable, affordable and available budget-room accommodation to millions of travellers in India. A booking with OYO comes with the promise of hassle-free stays. The popular OYO app (> 10 MILLION downloads) enables guests to search and book rooms, request room-service (food and beverages), book a cab and also search nearby restaurants. OYO also offers a unique concierge-like assistance service through OYO Captains – the company’s local representatives at hotels who ensure on-ground support for hassle-free travelling and on-stay experience. Guest can avail their services by booking via call centre, app or website.
Hotel-owners partnering with OYO see a significant increase in occupancy levels, get access to the world’s first tablet-based property management apps and become part of a brand recognized and loved by travelers nationwide.
In January 2017, OYO launched Townhouse – a managed hotel-brand designed to function as social hotspot to cater to city dwellers and a new generation of guests.