OYO, we all know this name when planning for a vacation or a business trip comes to our mind. But some of you must not be knowing the story behind the voyage of OYO Rooms, India’s largest and smartest hospitality company.
The company was founded by Ritesh Agarwal in the year 2011 with the name Oravel Stays. It was made to do the listing and booking of short stay budget accommodations and was built on the lines of US-based service AirBnB – an on-demand vacation rental app.
The company’s turning point came when it received an amount of $100,000 from Thiel Fellowship in 2012. Just after a year, Oravel stays pivoted into OYO Rooms and was launched in Gurgaon which is now a marketplace of budgeted hotels with standardized experience.
You must be still curious about its business model, its major milestones, its working style, and revenue generating process. Well, let’s dive further into detail. In the end, we would like to share some key takeaways for your business as well, so Stay Frosty!
