Let’s talk about hotels.
As Indians, when we talk about hotels, a few words will cross your mind. I am sure one of those words today is OYO Rooms. Do you know the story behind OYO?
In 2012, a 17 Year old Ritesh Agarwal travelled extensively, staying in bed and breakfasts, guest houses, lodges and hotels across the country. This made him realize that there was a massive dearth of affordable and good-quality hotels in the budget hotel category. He believed that everyone deserves a beautifully designed, chic and comfortable living space.
Ritesh Agarwal at 17 had the urge to drive change, and an idea that would change how hotels are perceived in the Indian market. He started Oravel in 2013, which was later named OYO Rooms.
As of June 2019, OYO were the Third Largest hotel chain in the world. Starting with just 1 hotel in 2013 in Gurgaon, today, they are in more than 800 cities, with more than 23,000 hotels, 850,000 rooms, and 46,000 vacation homes, worldwide. Their fast-paced growth is backed by a strong balance sheet of about $1.5 billion.
Ritesh Agarwal continues to inspire the entrepreneur in all of us.