OYO rooms is the largest hospitality company in India. They have 8500 hotels in 200+ cities like India, Nepal, China etc. And from last four years OYO has grown a lot and here below we will be discussing about oyo rooms business model.
Oyo was founded by Ritesh agarwal in 2013. At the age of 18 he started a travel website in 2012 named “oravel” where we can book hotels. In 2013 he converted oravel to OYO.
Starting with a 21 year old boy Ritesh agarwal travelling pan India. And where he saw that he could not find good rooms at affordable prices. And after all he got an idea that i should start a business where i will provide best rooms at affordable prices . With the seed investment of 1 crore he started the business and made the empire of 2900 crore. This is the power of internet.
You must be thinking they have got so many investments but you should too have a business model. The other best thing they did was that they acquired a company named ZO ROOMS which was doing same as OYO ROOMS. They have more than 60k rooms and having tie up with 8500 hotels and operating in 250+ cities. And they also started the facility of EARLY CHECKIN.
AS SPOTTED IN
OYO is backed by global investors, Greenoaks Capital, SoftBank Group, Lightspeed India
Recently OYO was in news in september 2018 after a sexual harassment claim was made by US citizen Jordan Taylor. She had allegedly claimed that she was provided an unsafe accommodation by OYO in Delhi where she was sexually harassed by OYO hotel staff. Source – Times Of India
The company vision is to become the most trusted hotel brands in the world of hospitality sector. They mainly acquire or hire a hotel. If you like the Oyo Rooms Business Model comment below.
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