OYO was established in 2013 by Ritesh Agarwal, a young Indian entrepreneur who was accepted into Peter Thiel's fellowship program. He founded OYO to integrate hospitality and technology by allowing budget travelers to book affordable hotel rooms online. OYO has since expanded globally and now has over a million rooms in hundreds of cities worldwide. Under Agarwal's leadership, OYO aims to become the most popular and reliable hotel brand globally.
OYO was established in 2013 by Ritesh Agarwal, a young Indian entrepreneur who was accepted into Peter Thiel's fellowship program. He founded OYO to integrate hospitality and technology by allowing budget travelers to book affordable hotel rooms online. OYO has since expanded globally and now has over a million rooms in hundreds of cities worldwide. Under Agarwal's leadership, OYO aims to become the most popular and reliable hotel brand globally.
OYO was established in 2013 by Ritesh Agarwal, a young Indian entrepreneur who was accepted into Peter Thiel's fellowship program. He founded OYO to integrate hospitality and technology by allowing budget travelers to book affordable hotel rooms online. OYO has since expanded globally and now has over a million rooms in hundreds of cities worldwide. Under Agarwal's leadership, OYO aims to become the most popular and reliable hotel brand globally.
OYO was established in 2013 by Ritesh Agarwal, a young Indian entrepreneur who was accepted into Peter Thiel's fellowship program. He founded OYO to integrate hospitality and technology by allowing budget travelers to book affordable hotel rooms online. OYO has since expanded globally and now has over a million rooms in hundreds of cities worldwide. Under Agarwal's leadership, OYO aims to become the most popular and reliable hotel brand globally.
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OYO Company
OYO Company
OYO was established by the Indian young man named as Ritesh Agarwal who is the very first Asian Citizen to be
accepted into the Fellowship of the Paypal founder, Peter Theil. The name of the fellowship was Theil Fellowship.
Agarwal first tried to integrate hospitality & technology into his youth, Ritesh Agarwal introduced an online portal
which is known as Oravel Stays, for guest houses and holiday rental. Soon, he concluded that the world could do
just 1 part of the bookings. His initial efforts went unnoticed and awarded him a Thiel Fellowship that provides
young entrepreneurs with $ 100 million and the training of dignitaries such as Mark Zuckerberg & Elon Musk of
SpaceX. While in California in 2013, working with the owner of Oravel Stays, Agarwal founded an asset
management company in India. The Gurgaon suburb of New Delhi has been renamed OYO - a dictionary of "On
Your Own." Reviewing venue & adding its appeal to those travelers who love budget, want to book online have
increased hotel accommodation rates from 19% to 90% in their first month in the new place. (Hotel Management,
n.d.)
In the world of Airbnb, the proliferation of Oyo hotels is almost unavoidable. The company of 9 years old
businessman of India, Ritesh Agarwal, emerged as a “hospitality” product with guest’s houses & integrated hotel
throughout India which can be easily booked online. (Kaushal, 2019)
Nowadays, it is among the biggest economic chains in almost all the big countries of the world, with more than a
million rooms at the bottom of all hotels and resorts. As of June, 850,000 of these rooms have been housed in more
than 23,000 rented rooms, franchises & shared hotels while 300,000 are in the company’s home collection. The
company recently reported $ 3 billion and, if Agarwal has its own approach, marks the start of what many see as
"state-building."
Agarwal has become a beacon for many enthusiasts & their enthusiastic enthusiasts, if not more concerned to see
what his next step in the universe may be. Hotel Management has recently hired a senior manager to take its
journey from a very young age to where Oyo is and where it is headed. (OYO's official blog, nd) Vision & Mission:
The Vision of the company is to become the most reliable & popular brand of hotels. The mission of OYO is to
maintain all the types of real estate & provide accommodation for the travelers.
Timeline:
Year Timeline of OYO’s Journey
2011 Ritesh Agarwal who was a college dropout student,
the founder and CEO of OYO’s took the first dive
into the Oravel Start up.
2013 He selected for a two years program, Thiel
fellowship which was initiated by the founder of
PayPal which provide him the funding of $100,000.
OYO was also established in the Gurgaon in 2013.
2014 Ritesh Agarwal Received his first series A funding
by the investors named as Lightspeed India, and
others. 2015 OYO got the funding of the largest amount of $ 25
Million and OYO App was introduced and launched
at massive expansion. OYO also got $ 100 Million
in series round C of funding by Soft Bank.
2016 The chain of hotels makes the $1 Million checks in
and was also launched in the Malaysia.
2017 OYO started its business in Nepal. 2018 OYO launched in Dubai, UK, UAE, China and
Indonesia. It also become a unicorn in September.
2019 OYO has more than 330,000 rooms in 550 cities in
the World.
Achievements: In the age of 24 Ritesh Agarwal is a big man in the world of Business in India. He has achieved numerous
international & national achievements for his company Oyo Rooms. (Xpert Magazine, 2019)
Below are a few of the Oyo awards:
• In the Consumer Technology Sector, Forbes “30 under 30”
• TATA, First Dot who are empowered by NEN awards which is the top 50 entrepreneurs in 2013.
• In 2014, he got TiE-Lumis Entrepreneurial Excellence Award.
• In the Business World, he got Award of Young Business.
References:
Hotel Management. (n.d.). Oyo’s Ritesh Agarwal talks journey, tactics with HM. [online] Available at: https://www.hotelmanagement.net/own/how-india-s-oyo-became-economy-giant. K aushal, B. (2019). Oyo’s 8-year-old Journey is a Quintessential Indian Legend in the Book of Business World Stories (Infographic). [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/326623.
X pert Magazine. (2019). Top Achievements of the Oyo CEO Ritesh Agarwal. [online] Available at: https://magazine.xpert.tv/top-achievements-of-the-oyo-ceo-ritesh-agarwal/.
O fficial OYO Blog. (n.d.). Ritesh Agarwal - Founder & CEO, OYO Rooms. [online] Available at: https://www.oyorooms.com/officialoyoblog/author/ritesh-agarwal.
