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โ‡ฑ Oyo Rooms News: Latest Updates & Trends | The Indian Express


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OYO Hotels & Homes: A Rapid Rise in the Hospitality Sector OYO, headquartered in Gurgaon, is a multinational hospitality chain offering leased and franchised hotels, homes, and living spaces globally. Founded in 2012 by Ritesh Agarwal, the company initially focused on budget accommodations. Its ...rapid expansion is noteworthy, transforming from a primarily budget hotel operator to a significant player in the global hospitality market. The company's growth trajectory has been impressive. By January 2020, OYO boasted a portfolio exceeding 43,000 properties and one million rooms across 800 cities in 80 countries. This demonstrates a significant market penetration and a robust global presence achieved in a relatively short timeframe. The scale of OYOโ€™s operations highlights its success in leveraging franchising and leasing models to achieve rapid expansion within the competitive hospitality industry. This business model has enabled OYO to cater to a diverse customer base seeking affordable and accessible lodging options worldwide. The company's continued success will depend on maintaining its operational efficiency and adapting to evolving market demands.

OYO Rooms Overview

๐Ÿ‘ OYO rooms
Image Source : Wikipedia
  • Company type Private
  • Industry Hospitality
  • Founded 2012
  • Founders Ritesh Agarwal
  • Headquarters Gurgaon, Haryana, India
  • Area served Asia, Europe and Americas
  • Key people Ritesh Agarwal (Group CEO)
  • Revenue โ‚น5,388 crore (US$620 million) (FY24)
  • Net income โ‚น229 crore (US$26 million) (FY24)
  • Number of employees 1,330 (2023)
  • Subsidiaries Motel 6
  • Website www.oyorooms.com

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OYO Rooms history

Last Updated : 19/03/25, 04:27 AM
OYO: A Rapid Ascent in the Hospitality Sector Launched in 2012 as Oravel Stays by Ritesh Agarwal, OYO quickly transformed into a leading budget accommodation platform. Early success included a $100,000 Thiel Fellowship grant. Strategic acquisitions followed, including Qlik Pass's data science team i...n 2016 and Novascotia Boutique Homes in 2018, expanding its reach into service apartments. The company further broadened its portfolio by acquiring Weddingz.in and forging a partnership with Airbnb in 2019. Significant investments marked OYO's growth, with a โ‚น1,400 crore injection into its India and South Asia operations in 2019, alongside global distribution partnerships with Hotelbeds and joint ventures with SoftBank and Yahoo! Japan. International expansion accelerated with the $415 million acquisition of @Leisure Group and the purchase of Innov8 co-working space. A $135 million investment in the Hooters Casino Hotel in Las Vegas and the acquisition of Danamica solidified its global presence. OYO's strategic moves continued with the formation of CHATT in 2021, alongside key appointments like Deepa Malik and Rajnish Kumar to its board and advisory roles. Further acquisitions included Direct Booker in 2022 and, most recently, the landmark $525 million acquisition of Motel 6 and Studio 6 in September 2024, marking a significant expansion into the US budget motel market. This acquisition highlights OYO's ambitious trajectory in the global hospitality sector.

OYO ROOMS NEWS

Oyo's โ€˜family friendlyโ€™ push: Young people need private spaces โ€“ denying it does no good

January 07, 2025 3:14 pm

The term 'family friendly' often masks a deep-seated discomfort with those who choose to live outside the traditional institution of marriage. Oyoโ€™s USP, from the get go, was being a place people turned to for intimacy in non-traditional set ups.

Shark Tank India: Luvottica founder on Anupam Mittal calling his brand 'inspired by Kamasutra', claims he made OYO Rooms' Ritesh Agarwal 'awkward'

April 10, 2024 8:05 am

In an exclusive interview, Luvottica founder shared that the traffic on his website has grown 10x, while orders for yoga, as well as sexual furniture, have increased by 5x.

Oyo Hotels mulls cutting IPO size amid tech headwinds, says report

March 27, 2023 3:56 pm

Oyo is preparing to file a fresh IPO document as soon as this week, according to the report.

OYO to double premium hotels in India in 2023

February 21, 2023 3:10 pm

Oyo's premium hotel brands include Townhouse Oak, OYO Townhouse, Collection O and Capital O.

Noida: Two Ghaziabad men arrested for duping people who wanted to book OYO hotel rooms

July 12, 2022 3:22 pm

Noida police filed an FIR on July 10 based on the complaint of an owner of a SIM card shop in Chaajarsi who grew suspicious when the accused frequently purchased SIM cards from him,

OYO elevates India & South Asia CEO Aditya Ghosh to board of directors

December 02, 2019 9:41 pm

Rohit Kapoor, currently CEO of the new real estate businesses of the company, has been appointed as CEO (India & South Asia) for OYO Hotels & Homes.

Delhi: Junior shooter electrocuted in Delhi OYO hotel room

October 15, 2019 4:44 am

DCP (South East) Chinmoy Biswal said, "We suspect the boy died due to an electric shock from appliances in the bathroom. We have registered an FIR under IPC section 304A (death due to negligence)."

Manager who denied room to Kashmiri man in Delhi warned, says OYO

August 21, 2019 1:10 am

โ€œThis was an absolutely isolated incident. No person is being denied accommodation in our hotels because they hold identity cards of J&K. We have among the largest number of hotels in J&K,โ€ the employee said.

Oyo founder inks deal to buy back shares worth $2 bn; his stake to rise threefold

July 20, 2019 6:12 am

As per sources in know of the matter, after the entire process is completed, Ritesh Agarwalโ€™s stake in Oyo will rise from the current 9-10 per cent to around 30 per cent. This would take the valuation of the company to around $10 billion.

๐Ÿ‘ Both Sridevi and Rajinikanth began their careers alongside Kamal Haasan.
When 13-year-old Sridevi and newbie Rajinikanth were completely starstruck by Kamal Haasan
Entertainment2 hr ago

Sridevi and Rajinikanth looked up to Kamal Haasan in the early stages of their careers, with both making their debuts alongside him in Moondru Mudichu and Apoorva Raagangal, respectively. The film played a crucial role in establishing Rajinikanth as an actor and inspired both stars to chase fame and fortune like Kamal. Sridevi and Rajinikanth collaborated with Kamal Haasan in numerous films.

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