Oyo’s India revenue for FY18 rises over three-fold at ₹327 crore
5 years, 11 months ago

Oyo’s India revenue for FY18 rises over three-fold at ₹327 crore

Live Mint  

Hospitality startup Oyo reported more than three-fold jump in revenues at ₹327 crore for the year ended March 2018 as against ₹107 crore in FY17 for it's India operations. The Gurugram-based company's revenue is expected to grow at the same momentum to hit ₹1,481 crore for FY 2018-19, according to a blog note by Abhishek Gupta, chief financial officer at Oyo. "The robust business model generates double-digit positive contribution to the margins.” The startup saw stayed nights at its properties grew more than five-fold year-on-year from 75 million in 2017 to 99 million in December 2018, according to the note. Oyo Hotels and Homes had an annualised revenue run rate of $1.2 billion as of December last year in the Indian market.

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History of this topic

Oravel subsidiary Oyo Hotels and Homes reports decline in revenue in FY24
1 week, 2 days ago

Oravel subsidiary Oyo Hotels and Homes reports decline in revenue in FY24

Live Mint  

Oyo Hotels and Homes Pvt. As per information filed this week, with the Registrar of Companies, the company reported a profit of ₹11.5 crore over a loss of ₹27 crore in FY23, owing primarily to a reduction in total expenses by ₹6 crore and a positive growth in exceptional items from a loss the year before. But its operating revenue …

OYO Results: Hotels chain operator reports ₹114.64 crore net profit in FY2024, revenue drop 15%
1 week, 2 days ago

OYO Results: Hotels chain operator reports ₹114.64 crore net profit in FY2024, revenue drop 15%

Live Mint  

OYO Results: OYO Hotels and Homes Pvt. Ltd., a leading operator in the hotels and hospitality sector, reported a net profit of ₹114.64 crore for the financial year 2023-24, marking a turnaround from the net loss recorded in 2022-23. However, the company's operational revenue declined by 15 per cent, falling to ₹1,112.83 crore as of March 2024, compared to ₹1,312.61 …

Over 10 lakh people used OYO rooms on NYE, says Ritesh Agarwal: ‘Our users are certified night owls’
2 weeks, 2 days ago

Over 10 lakh people used OYO rooms on NYE, says Ritesh Agarwal: ‘Our users are certified night owls’

Live Mint  

OYO CEO Ritesh Agarwal on Tuesday said that over 10 lakh people used OYO rooms across the world on the New Year's Eve. “The New Year is off to an incredible start, with over 1.1 million travellers staying with us worldwide this NYE—marking a remarkable 58% increase from 2023, with the addition of Motel 6 and Studio 6 to our …

Oyo founder Ritesh Agarwal to invest ₹550 crore into the company for global expansion
1 month, 4 weeks ago

Oyo founder Ritesh Agarwal to invest ₹550 crore into the company for global expansion

Hindustan Times  

Oyo's founder and CEO Ritesh Agarwal may personally invest ₹550 crore into the company as it looks to expand globally as part of a proposal which will be taken up during the company’s extraordinary general meeting on December 9 as a special resolution. The logo of OYO, India's largest and fastest-growing hotel chain, installed on a hotel building is pictured …

Moody’s expects OYO to be Ebitda positive for FY24
1 year, 8 months ago

Moody’s expects OYO to be Ebitda positive for FY24

Live Mint  

Moody's Investors Service on Monday said hospitality and travel tech startup Oyo is likely to see its Earnings Before Interest, Taxes, Depreciation and Amortization to be positive for the remaining financial year and overall outlook to remain stable. "The rating affirmation reflects Moody’s expectation that Oyo remains on track to turn Ebitda positive, on a full-year basis, for the fiscal …

Mint Explainer: How Oyo is carving a path to profits
1 year, 11 months ago

Mint Explainer: How Oyo is carving a path to profits

Live Mint  

Oyo will refile its draft red-herring prospectus with updated information about its initial public offering. Its original DRHP filed in September 2021, and the addendum to it in November 2022, suggest the hospitality unicorn is back on its feet after the pandemic, with a derisked business model that gives it a presence across India, Southeast Asia and Europe. In its …

Why Oyo boss Ritesh Agarwal must clean up before the IPO
2 years, 1 month ago

Why Oyo boss Ritesh Agarwal must clean up before the IPO

Live Mint  

On 2 December, at noon, a man walked into Rajdoot Hotel with a suitcase. Recently, the federation wrote to the market regulator, Securities and Exchange Board of India, alleging that “Oyo is responsible for the systemic depredation of the budget segment hotel business”. Since we have a revenue sharing arrangement, it’s in both the hotels’ and Oyo’s interest to charge …

IPO-bound OYO valuation dips in private market: Report
2 years, 3 months ago

IPO-bound OYO valuation dips in private market: Report

Hindustan Times  

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players. Last month, in a regulatory filing OYO reported a revenue of ₹ 1,459.32 crore in the three-month period ended June 30, 2022. …

A slimmed-down Oyo looks better placed for an IPO
2 years, 3 months ago

A slimmed-down Oyo looks better placed for an IPO

Live Mint  

Oyo Hotels & Homes has shelved some of its grand overseas ambitions. If the recovery in budget travel, which is Oyo’s bread and butter, can gain a bit of steam, the company would be relatively well placed for a public listing, even in a tough market. In its preliminary IPO filing with Indian market regulators last year, Oyo said it …

Top hotel industry body wants SEBI to cancel Oyo's IPO
2 years, 8 months ago

Top hotel industry body wants SEBI to cancel Oyo's IPO

India TV News  

The Federation of Hotel and Restaurant Associations of India on Wednesday urged the Securities and Exchange Board of India to call off online hospitality major Oyo's initial public offering, citing the massive losses suffered by the hotel rooms aggregator in recent years. As per reports, Oyo incurred losses of Rs 3943.84 crore in FY20-21, translating to a loss of over …

OYO appoints Ankit Gupta as CEO; to lead flagship hotels, homes
3 years, 2 months ago

OYO appoints Ankit Gupta as CEO; to lead flagship hotels, homes

Live Mint  

Ltd, which operates the OYO Hotels and Homes business, said it has appointed Ankit Gupta as chief executive officer of franchise and frontier business – India. As a part of his expanded responsibilities, Gupta will be leading OYO’s flagship hotels & homes business as well as other verticals. Earlier in March, an arbitral tribunal ruled in favour of Zostel calling …

SoftBank-backed Oyo files draft papers for $1.14 billion IPO
3 years, 3 months ago

SoftBank-backed Oyo files draft papers for $1.14 billion IPO

Hindustan Times  

SoftBank-backed Indian hotel aggregator Oyo filed for a $1.14 billion initial public offering on Friday, becoming the first hospitality company in the country to seek a domestic stock listing since 2019. According to Oyo's draft herring prospectus, the offer for sale comprises equity shares aggregating up to 13.29 billion rupees by SVF India Holdings, a firm incorporated in Cayman Islands …

OYO raises $660 million via debt funding from investors
3 years, 5 months ago

OYO raises $660 million via debt funding from investors

Hindustan Times  

Hospitality unicorn OYO Hotels and Homes Ltd on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. OYO will use these funds to retire its past debts, strengthen the balance sheet and leverage the funds for other business purposes, including investment in product technology. “We are delighted by the response to OYO’s …

OYO raises $660 mn debt from investors
3 years, 6 months ago

OYO raises $660 mn debt from investors

Live Mint  

Bengaluru: Hospitality unicorn OYO Hotels and Homes Ltd on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. “We are delighted by the response to OYO’s maiden TLB capital raise that was oversubscribed by leading global institutional investors. “It’s heartening for me to see the strong interest from the investor community in …

Oyo CEO says company’s business has rebounded from spring nadir
4 years, 2 months ago

Oyo CEO says company’s business has rebounded from spring nadir

Live Mint  

India-based hotel startup Oyo Hotels & Homes has seen a key financial figure rebound to 20% below pre-pandemic levels after falling as much as 60% earlier in the year, Chief Executive Ritesh Agarwal said. Speaking at The Wall Street Journal’s Tech Live conference on Tuesday, Mr. Agarwal said the figure, which Oyo labels “gross margin,” was at its lowest around …

Oyo to offload more loss-making hotels; coronavirus pandemic derails plans for rapid global expansion
4 years, 8 months ago

Oyo to offload more loss-making hotels; coronavirus pandemic derails plans for rapid global expansion

Firstpost  

While Oyo does not plan to completely exit any market, it will either terminate or not renew contracts with loss-making hotels, sources said. New Delhi/Bengaluru: Oyo Hotels and Homes, backed by SoftBank Group, plans to offload more properties around the world, three sources familiar with the matter said, as the coronavirus pandemic prompts it to speed up a retreat from …

Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures
5 years ago

Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures

Firstpost  

Last month, Oyo’s internal projections showed it may not make a profit in India and China until 2022, even as the India-based hotel chain revealed a six-fold rise in losses during fiscal year 2019. The losses highlight rapid expansion by Oyo into China, the United States, the United Kingdom and other markets, which has made the six-year-old startup one of …

Founder’s buyback lifts Oyo valuation to $10 billion
5 years, 3 months ago

Founder’s buyback lifts Oyo valuation to $10 billion

Live Mint  

Bengaluru: Oyo Hotels and Homes is raising $1.5 billion, in its largest fundraising to date, from its founder Ritesh Agarwal and Japan’s SoftBank. Agarwal’s capital infusion is part of his plan to triple his stake in Oyo by investing $2 billion to buy back shares from some of the company’s early investors, including Lightspeed Venture Partners and Sequoia India. We …

OYO to raise $1.5 billion in latest round of funding
5 years, 3 months ago

OYO to raise $1.5 billion in latest round of funding

Live Mint  

Bengaluru: OYO Hotels & Homes, on Monday, said it will raise $1.5 billion, as part of its Series F funding round. As a part of the round, RA Hospitality Holdings’ will infuse nearly $700 million as primary capital in the company, with the balance $800 million being supplemented by other existing investors. In order to facilitate this transaction, Lightspeed Venture …

OYO to add over 3,000 employees in India over 6 months
5 years, 4 months ago

OYO to add over 3,000 employees in India over 6 months

Live Mint  

New Delhi: Hospitality firm OYO on Wednesday said it will add over 3,000 employees across multiple functions in six months to fuel its next phase of growth in India. The development is aligned with the company's commitment towards investing ₹1,400 crore by the end of 2019 in India and South Asia business, OYO said in a statement. "With the addition …

Oyo’s preparing to list in next 2-3 years, eyes up to $18 billion valuation
5 years, 6 months ago

Oyo’s preparing to list in next 2-3 years, eyes up to $18 billion valuation

Live Mint  

Oyo Hotels and Homes, India’s most valuable hotel chain, is preparing for an initial share sale in the next two-three years, according to two people aware of the development, one of them directly associated with the firm. “The intent is to go public in two-three years and the company is taking several steps towards this major goal.” When it happens, …

Oyo creates over 1 lakh direct and indirect jobs in India; aims to double number by next year
5 years, 9 months ago

Oyo creates over 1 lakh direct and indirect jobs in India; aims to double number by next year

Firstpost  

The company is helping empower multiple ancillary industries in the hospitality ecosystem by leveraging scale to make bulk procurement that supports local businesses, Oyo said in a statement. New Delhi: Hospitality firm Oyo on Wednesday said it has created over a lakh direct and indirect jobs in India and is aiming to double the number by 2020. “We are focused …

Oyo books $200 million funding from Airbnb
5 years, 9 months ago

Oyo books $200 million funding from Airbnb

Live Mint  

Bengaluru: Airbnb Inc., the world’s largest home-sharing platform, on Monday said it has invested an undisclosed amount in India’s budget hotel startup, Oyo, as the US company seeks to bolster its hotel-booking business ahead of a planned IPO. Two people familiar with the matter said Airbnb has invested between $150 million and $200 million in Oyo as part of the …

Oyo to invest Rs 1,400 cr in India, Nepal markets to enhance infrastructure, technology; announces new brand
5 years, 10 months ago

Oyo to invest Rs 1,400 cr in India, Nepal markets to enhance infrastructure, technology; announces new brand

Firstpost  

Oyo also launched an in-app SoS button for emergency assistance with options to contact the Oyo safety response team as well as local law enforcement authorities. New Delhi: Hospitality firm Oyo will invest Rs 1,400 crore in India and Nepal markets in 2019 as part of efforts to increase infrastructure, strengthen technology and internal capability, it said on Tuesday. “Rs …

Oyo all set to make US foray; plans to launch affordable living solutions for young people, middle-income groups
5 years, 11 months ago

Oyo all set to make US foray; plans to launch affordable living solutions for young people, middle-income groups

Firstpost  

At present, Oyo has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 rooms every month, globally. Ritesh Agarwal-led hospitality firm Oyo is set to make its foray into the American market with affordable housing solutions after aggressively expanding its presence in Asian countries including China and Japan besides Britain, said a media report. Oyo will …

Oyo expands international presence with Philippines foray; to invest over $50 mn, aims to create 1,000 jobs
5 years, 11 months ago

Oyo expands international presence with Philippines foray; to invest over $50 mn, aims to create 1,000 jobs

Firstpost  

The hospitality firm has also committed an investment of over $50 million over the next few years in Philippines and aims to generate 1,000 direct and indirect employment opportunities there. New Delhi: Hospitality firm Oyo on Wednesday said it has launched operations in Philippines with over 21 franchised and leased hotels in the country. The hospitality firm has also committed …

After China, UK, Oyo to expand international footprint with foray into Philippines, onboards 10 properties
5 years, 11 months ago

After China, UK, Oyo to expand international footprint with foray into Philippines, onboards 10 properties

Firstpost  

Oyo intends to expand the number aggressively to tap into the $5 billion opportunity in Philippines market New Delhi: After markets like China and the UK, Indian hospitality chain OYO is looking at further expanding its international footprint with its foray into the Philippines, according to sources. OYO CEO India and South Asia, Aditya Ghosh, in an interview to PTI, …

OYO aims at 1 million rooms to become world's 'largest' hotel chain; sets target of 2.5 million rooms by 2023
6 years ago

OYO aims at 1 million rooms to become world's 'largest' hotel chain; sets target of 2.5 million rooms by 2023

Firstpost  

At present, OYO has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 rooms every month, globally Kolkata: Hospitality firm OYO Hotels and Rooms on Monday said it is working on a roadmap for 1-million room inventory from the existing count of 4.6 lakh. The company has set a target of 2.5 million rooms by 2023, …

OYO aims at 1 million rooms to become world’s ‘largest’ hotel chain
6 years ago

OYO aims at 1 million rooms to become world’s ‘largest’ hotel chain

Live Mint  

Kolkata: Hospitality firm OYO Hotels and Rooms on Monday said it is working on a roadmap for 1-million room inventory from the existing count of 4.6 lakh. The company has set a target of 2.5 million rooms by 2023, its promoter Ritesh Agarwal said.At present, OYO has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 …

OYO to add up to 500 Townhouse hotels across India in 2019 as part of expansion plan – Firstpost
6 years ago

OYO to add up to 500 Townhouse hotels across India in 2019 as part of expansion plan – Firstpost

Firstpost  

Currently OYO has in all 68 Townhouse hotels in Delhi, Hyderabad, Bengaluru, Kolkata, Mumbai, Noida, Ghaziabad, Jaipur and Pune. New Delhi: Hospitality firm OYO is looking to add up to 500 Townhouse hotels across India during 2019 as part of its expansion plan, a senior company official said. “In 2019, OYO will be adding 400 to 500 Townhouse across key …

OYO to add up to 500 Townhouse hotels across India in 2019
6 years ago

OYO to add up to 500 Townhouse hotels across India in 2019

Live Mint  

New Delhi: Hospitality firm OYO is looking to add up to 500 Townhouse hotels across India during 2019 as part of its expansion plan, a senior company official said. “In 2019, OYO will be adding 400 to 500 Townhouse across key metros and leisure destinations in India,” OYO Townhouse COO Ankit Tandon told PTI. OYO’s Townhouse hotels enjoy over 90 …

OYO expands global presence with Sri Lanka foray; hospitality firm to strengthen presence in South Asian mkt
6 years, 1 month ago

OYO expands global presence with Sri Lanka foray; hospitality firm to strengthen presence in South Asian mkt

Firstpost  

Currently, OYO has presence in seven countries including India, China, Indonesia, Malaysia, Nepal, the UK and the UAE. New Delhi: Hospitality firm OYO has entered Sri Lanka as part of its expansion plan in South Asian market, sources said on Thursday. However, when asked for confirmation on this development, OYO Hotels and Homes COO Abhinav Sinha said, “Sri Lanka, being …

OYO says it has emerged as one of top 5 hotel chains in China after 12 months of ops; launches six skill institutes
6 years, 1 month ago

OYO says it has emerged as one of top 5 hotel chains in China after 12 months of ops; launches six skill institutes

Firstpost  

The company, currently, has over 1,80,000 franchised and leased rooms and more than 4,000 hotels under various formats in China. New Delhi: Hospitality firm OYO on Thursday said after 12 months of operations in China, the company has emerged as one of the top five hotel chains in the country. The company, currently, has over 1,80,000 franchised and leased rooms …

OYO raises $1 billion fund: How 24-year-old Ritesh Agarwal turned his idea into India's second most valuable start-up
6 years, 3 months ago

OYO raises $1 billion fund: How 24-year-old Ritesh Agarwal turned his idea into India's second most valuable start-up

Firstpost  

OYO, a hospitality firm started by 24-year-old Ritesh Agarwal’s hospitality firm, recently announced it had raised a capital of $1 billion in a fresh round of funding led by SoftBank Investment Advisers through SoftBank Vision Fund for further expansion. A college dropout, Agarwal got the idea for Oyo while travelling across the country on a shoestring budget and lodging at …

How 24-year-old Ritesh Agarwal built Oyo into a $5 billion startup in just 5 years
6 years, 3 months ago

How 24-year-old Ritesh Agarwal built Oyo into a $5 billion startup in just 5 years

Live Mint  

Bangalore: Finding clean, affordable hotels in India can be a traveller’s nightmare. “By 2023, we will be the world’s largest hotel chain,” the 24-year-old founder said in a recent interview at an Oyo hotel in a suburb of New Delhi, where the company is based. “Oyo is going all out to build a very large base of hotel partners and …

Oyo Rooms checks into unicorn club with $1 billion fundraise
6 years, 3 months ago

Oyo Rooms checks into unicorn club with $1 billion fundraise

Live Mint  

New Delhi: Hotel chain Oyo Rooms said it would raise $1 billion from Japan’s SoftBank Vision Fund and other investors, making it India’s second-most valuable start-up after Paytm, and the latest to join the coveted unicorn club. The latest funding will give Oyo Rooms, founded by Ritesh Agarwal in May 2013 when he was 19, the necessary firepower to continue …

SoftBank-backed Oyo is in the market to raise about $1bn; looming deal will spawn another Indian unicorn
6 years, 5 months ago

SoftBank-backed Oyo is in the market to raise about $1bn; looming deal will spawn another Indian unicorn

Firstpost  

Oyo is reportedly in talks with two consortia to raise between $500 million and $1 billion. Ltd, the operator of hotel chain Oyo Rooms, is in the market to raise funds and an impending deal could help create India’s most valuable hospitality firm. “What this partnership facilitates is combining OYO’s capabilities of asset management and technology with the scale Weddingz.in …

Oyo starts China business with hotel rooms in 26 cities
6 years, 6 months ago

Oyo starts China business with hotel rooms in 26 cities

Live Mint  

Bengaluru: Hotel chain Oyo is expanding its China business, its third overseas market. “After our successful overseas expansion and operations in Malaysia and Nepal, we are thrilled to offer Oyo hotels’ hassle-free and standardized stay experience to guests in China,” said Oyo founder and chief executive Ritesh Agarwal. Mint reported on 22 March that Oyo plans to expand its international …

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