OYO Rooms
 | |
| Company type | Private |
|---|---|
| Industry | Hospitality, Travel technology |
| Founded | May 2012 |
| Founder | Ritesh Agarwal |
| Headquarters | Gurugram, Haryana, India, India |
Area served | Worldwide |
Key people | Ritesh Agarwal (Founder & CEO), Abhishek Gupta (CFO), Aditya Ghosh (Board Director), Deepa Malik (Independent Director) |
| Products | Hotel booking platform, franchised hotels, vacation homes, co-working spaces |
| Revenue | ₹5,540 crore (2024) |
Number of employees | 13,424 (2025) |
| Parent | Oravel Stays Limited |
| Website | www |
OYO Rooms, stylised as OYO, is an Indian multinational hospitality chain headquartered in Gurugram, Haryana. Founded in 2012 by Ritesh Agarwal, it operates a network of leased and franchised hotels, homes, and living spaces, focusing on affordable and standardized accommodations. Initially targeting budget hotels in India, OYO has expanded to over 80 countries, with more than 157,000 properties and 1 million rooms as of 2020. The company leverages a technology-driven platform to enhance revenue for property owners and provide seamless booking experiences for customers. OYO's innovative business model and rapid global expansion have positioned it as one of the world's leading hospitality chains, though it has faced challenges such as legal disputes and operational restructuring. [1]
Founders & Leadership
Ritesh Agarwal (born 16 November 1993) is the founder and CEO of OYO Rooms. Born in Bissam Cuttack, Odisha, Agarwal completed his schooling at Sacred Heart School and St. John's Senior Secondary School before moving to Delhi in 2011. A college dropout, he founded Oravel Stays in 2011, which was rebranded as OYO in 2013. Agarwal was the first Asian resident to receive the Thiel Fellowship, a $100,000 grant from Peter Thiel, in 2013. He was listed among the top 10 youngest Indian billionaires in the Hurun Rich List 2024, with a net worth of ₹1,900 crore. Agarwal has also appeared as a panellist on Shark Tank India (season 3) in 2024. [2][3]
Other key leadership includes:
- Abhishek Gupta, CFO, overseeing financial operations.
- Aditya Ghosh, Board Director, former CEO of OYO India and South Asia, with over 22 years of business leadership experience.
- Deepa Malik, Independent Director, a Paralympian and recipient of the Padma Shri and Khel Ratna awards. [4]
Timeline
| Year | Milestone |
|---|---|
| 2011 | Ritesh Agarwal founds Oravel Stays, a budget accommodation listing platform. |
| 2012 | Agarwal receives $100,000 from the Thiel Fellowship. |
| 2013 | Oravel Stays rebranded as OYO Rooms, focusing on budget hotels. |
| 2015 | OYO raises $100 million in Series B funding led by SoftBank Group. |
| 2016 | Acquires Qlik Pass team to establish data science department. |
| 2018 | Expands to 800 cities across 80 countries; becomes 100% leased and franchised. |
| 2019 | Strategic partnership with Airbnb; acquires @Leisure Group for $415 million and Innov8 for $30 million. |
| 2021 | Forms Confederation of Hospitality, Technology and Tourism Industry (CHATT) with Yatra, Airbnb, and EaseMyTrip. |
| 2022 | Acquires Direct Booker for $5.5 million; delays IPO due to market conditions. |
| 2024 | Acquires Motel 6 and Studio 6 for $525 million from Blackstone Inc.. |
| 2025 | Reports net profit of ₹623 crore in FY25, becoming India’s most profitable startup. [5] |
Funding
| Date | Round | Amount | Investors |
|---|---|---|---|
| November 2012 | Seed | $100,000 | Thiel Fellowship |
| March 2015 | Series A | $24 million | Greenoaks Capital, Sequoia Capital, Lightspeed Venture Partners, DSG Consumer Partners |
| August 2015 | Series B | $100 million | SoftBank Group, Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital |
| April 2017 | Series C | $250 million | SoftBank Group, Lightspeed Venture Partners, Greenoaks Capital, Sequoia Capital |
| September 2017 | Series D | $250 million | SoftBank Group, Sequoia Capital, Lightspeed Venture Partners, Hero Enterprise |
| September 2018 | Series E | $1 billion | SoftBank Group, Grab, Didi Chuxing, Airbnb |
| October 2019 | Series F | $1.5 billion | SoftBank Group, Lightspeed Venture Partners, Sequoia Capital |
| July 2021 | Debt Financing | $660 million | Global institutional investors |
| August 2024 | Series G | $175 million | Patient Capital |
| December 2024 | Series G | $58.9 million | Red Spring Innovation Partners |
| January 2025 | Equity Issuance | ₹550 crore | Red Spring Innovation Partners [6] |
Business Model
OYO Rooms operates an asset-light, technology-driven business model, focusing on franchising and leasing hotels, homes, and living spaces. It partners with independent property owners, standardizing their offerings to ensure quality and consistency, such as free Wi-Fi, clean linens, and digital check-ins. OYO earns revenue through a franchise fee (approximately 20% of room revenues) and by managing bookings via its app and third-party OTAs like Booking.com. The company employs dynamic pricing to optimize revenue based on seasonality and demand. Its customer segments include budget travelers, corporate clients, and vacationers seeking affordable, reliable accommodations. OYO’s platform also supports property owners with tools like Co-OYO and OYO OS for revenue management and operations. [7]
Products / Services
- OYO Rooms: Budget hotels with standardized amenities like Wi-Fi, clean linens, and breakfast.
- OYO Townhouse: Mid-scale hotels targeting young professionals and urban travelers.
- OYO SilverKey: Serviced apartments for corporate and long-term stays.
- OYO Palette Resorts: Premium resorts for leisure and vacation travelers.
- OYO Workspaces: Co-working spaces under brands like Innov8, Workflo, and Powerstation.
- OYO Wizard: A loyalty program with 9.2 million members, offering discounts and benefits.
- OYO App: A mobile platform for booking, check-ins, and customer support, with over 100 million downloads. [8]
Growth & Metrics
As of 2025, OYO operates in over 80 countries, with 157,000+ properties and 1 million rooms. The company reported a revenue of ₹5,540 crore in FY24 and a net profit of ₹623 crore in FY25, marking it as India’s most profitable startup. OYO’s user base includes over 100 million app downloads and 9.2 million loyalty program members. The company employs 13,424 people globally, with approximately 8,000 in India and South Asia. OYO added 3,500 corporate clients in FY25, bringing its total to over 6,500. Its global stayed room nights grew from 6 million in 2016 to 75 million in 2018. [9][10][11]
Legal Entity Information
| Field | Details |
|---|---|
| Legal Name | Oravel Stays Limited |
| Foundation Date | 26 February 2013 |
| Registrar of Companies | RoC-Delhi |
| Corporate Identification Number (CIN) | U63090DL2013PLC248839 |
| Registered Address | Southern Peripheral Road, 9th Floor, Spaze Palazo, Sector-69, Gurugram, Haryana, India |
| Company Status | Active |
| Directors | Ritesh Agarwal, Bejul Somaia, William Steve Albrecht, Abhishek Gupta, Aditya Ghosh, Troy Alstead, Deepa Malik |
| Authorized Share Capital | ₹150 crore |
| Paid-up Capital | ₹120 crore [12] |
Acquisitions and Investments
OYO has made several strategic acquisitions to diversify its portfolio:
- Qlik Pass (2016): Acquired the team to establish its data science department.
- Novascotia Boutique Homes (2018): Chennai-based service apartment operator for corporate stays.
- @Leisure Group (2019): Amsterdam-based vacation rental company for $415 million.
- Innov8 (2019): Delhi-based co-working space for $30 million.
- Danamica (2019): Copenhagen-based data science firm for $10 million.
- Hooters Casino Hotel (2019): Las Vegas property acquired with Highgate for $135 million.
- Direct Booker (2022): Europe-based company for $5.5 million.
- Motel 6 and Studio 6 (2024): Acquired from Blackstone Inc. for $525 million. [13]
Media & Public Recognition
OYO has received significant media coverage and accolades:
- Recognized as the world’s third-largest hospitality chain in 2019 by Startup Talky. [14]
- Ritesh Agarwal listed in Forbes 30 Under 30 Asia in 2018.
- Featured in The New York Times for its rapid U.S. expansion in 2020. [15]
- Covered by TechCrunch for its co-working space venture in 2019. [16]
- Acknowledged by CB Insights as India’s most profitable startup in FY25. [17]
FAQs
- What is OYO Rooms?
- OYO Rooms is an Indian hospitality chain offering affordable, standardized accommodations through a technology-driven platform, operating in over 80 countries.
- Who founded OYO Rooms?
- OYO Rooms was founded by Ritesh Agarwal in 2012, initially as Oravel Stays, rebranded to OYO in 2013.
- How does OYO make money?
- OYO earns revenue through franchise fees (approximately 20% of room revenues) and bookings via its app and third-party OTAs.
- What is OYO’s valuation?
- As of January 2025, OYO’s valuation is ₹36,000 crore ($3.79 billion). [18]
External Links
Related Startups
References
- ↑ "OYO". Crunchbase. Retrieved 24 May 2025.
- ↑ Goel, Vindu (3 January 2020). "The OYO Story". The New York Times. Retrieved 24 May 2025.
- ↑ "Ritesh Agarwal - Founder & CEO". OYO Rooms. Retrieved 24 May 2025.
- ↑ "OYO". LinkedIn. Retrieved 24 May 2025.
- ↑ "OYO Becomes Most Profitable Indian Startup in FY25". CB Insights. 8 May 2025. Retrieved 24 May 2025.
- ↑ "OYO Secures Rs 550 Crore Funding". Outlook Business. 6 January 2025. Retrieved 24 May 2025.
- ↑ "OYO Business Model". Startup Talky. 19 March 2025. Retrieved 24 May 2025.
- ↑ "OYO". LinkedIn. 4 February 2025. Retrieved 24 May 2025.
- ↑ "OYO Adds 3,500 Corporate Clients in FY25". Hotelier India. 19 May 2025. Retrieved 24 May 2025.
- ↑ "OYO Company Profile". PitchBook. Retrieved 24 May 2025.
- ↑ "Ritesh Agarwal Twitter". X. Retrieved 24 May 2025.
- ↑ "OYO Company Profile". Tracxn. 14 May 2025. Retrieved 24 May 2025.
- ↑ "OYO Acquires Motel 6 for $525 Million". Reuters. 20 September 2024. Retrieved 24 May 2025.
- ↑ "OYO Success Story". Startup Talky. 19 March 2025. Retrieved 24 May 2025.
- ↑ Goel, Vindu (3 January 2020). "The OYO Story". The New York Times. Retrieved 24 May 2025.
- ↑ "OYO Enters Co-working Business with Innov8 Acquisition". TechCrunch. 16 July 2019. Retrieved 24 May 2025.
- ↑ "OYO Becomes Most Profitable Indian Startup in FY25". CB Insights. 8 May 2025. Retrieved 24 May 2025.
- ↑ "OYO Company Profile". Tracxn. 14 May 2025. Retrieved 24 May 2025.