OYO ROOMS

 Ritesh Agarwal, the founder of OYO, had a vision to address the challenges faced by
budget travellers in finding affordable and quality accommodation. His
entrepreneurial spirit led him to create a platform that offered standardized budget
hotels and an exceptional guest experience. This vision gave birth to OYO Hotels &
Homes.
 In 2011, at just 17 years old, he came up with the idea of Oravel Stays, an
aggregator of bed and breakfast stays, inspired by Airbnb’s model.

 Oravel Stays was later re-launched in 2013 as OYO Hotels & Homes
 OYO started as a budget accommodation listing and booking website.
 Its mission was to provide travellers with affordable, quality, and standardized hotel
rooms.
 Over time, OYO expanded globally, becoming the third-largest and fastest-growing
chain of leased and franchised hotels, homes, and living spaces.
 Founder Ritesh Agarwal achieved the remarkable feat of being recognized as
the World’s Youngest Self-made Billionaire in February 2020
 Global Presence: OYO operates in 80 countries, including India, China, the US,
Europe, Southeast Asia, the Middle East, Japan, and more.
 Room Count: In the calendar year 2019, OYO had over a million rooms across the
globe.

Let’s explore some of OYO’s key competitors

1. Yatra.com
2. Treebo Hotels
3. Airbnb
4. MakeMyTrip

 Oyo has a market share of 68% in India and dominating the market in 2017
 OYO Dominates with 68% Market Share | by KalaGato | Medium
 Convincing hotel owners to partner with a startup was no easy task. Many were
sceptical about collaborating with an unproven entity.
 Ritesh’s resilience and persuasive skills helped him gradually win the trust of
hoteliers by providing training, standardization, and technology-driven solutions.
 OYO’s rapid expansion strategy led to massive layoffs in some cases. The company
faced criticism for its aggressive approach.
 Balancing growth with employee welfare and ethical practices was a significant
challenge.
 While OYO’s aggressive pricing attracted guests, it raised concerns about long-term
profitability.
 Striking the right balance between affordability and sustainable business growth was
a constant challenge.