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 metros and leisure destinations in India,” OYO Townhouse COO Ankit Tandon told PTI. OYO’s Townhouse hotels enjoy over 90 percent occupancy while witnessing a strong repeat from customers with nearly 50 percent of them choosing to return to a Townhouse for their next trip, he added.

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History of this topic

Over 10 lakh people used OYO rooms on NYE, says Ritesh Agarwal: ‘Our users are certified night owls’
2 weeks, 1 day 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 buys US-based G6 Hospitality from Blackstone for $525 mn, adds 1,500 hotels
3 weeks, 3 days ago

Oyo buys US-based G6 Hospitality from Blackstone for $525 mn, adds 1,500 hotels

Live Mint  

Bengaluru: Ritesh Agarwal-led Oyo has completed the acquisition of US-based G6 Hospitality, which operates the Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million and the deal is projected to increase its Ebitda to over ₹2,000 crore in FY26, the travel-tech startup said in a statement on Monday. The transaction is expected to add about 1,500 …

Putting up devotees: 51 home stays, 14 hotels inaugurated in Ayodhya
11 months, 4 weeks ago

Putting up devotees: 51 home stays, 14 hotels inaugurated in Ayodhya

Hindustan Times  

Deputy chief minister Brajesh Pathak, senior BJP leader BL Santosh, agriculture minister Surya Pratap Shahi and tourism and culture minister Jaiveer Singh, jointly inaugurated 51 homestays and 14 hotels for devotees in Ayodhya on Wednesday. The government is working in partnership with private players to promote religious tourism in India The Uttar Pradesh ministers and BJP leaders visited Shankar Homestay …

OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales
2 years, 1 month ago

OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales

Hindustan Times  

IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner …

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor
3 years, 5 months ago

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor

Business Standard  

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor Three-pronged revamp strategy includes getting out of investing in capex of hotels, moving away from offering minimum guarantees to hotel partners and giving them flexibility to determine room tariff Premium Rohit Kapoor, OYO Rooms CEO for India and south east Asia Surajeet Das Gupta New Delhi Global …

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 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 …

Hotel operators who partnered with Oyo call it 'biggest online fraud', demand criminal probe against Softbank-backed startup now poised to raise $1.5 bn
5 years, 3 months ago

Hotel operators who partnered with Oyo call it 'biggest online fraud', demand criminal probe against Softbank-backed startup now poised to raise $1.5 bn

Firstpost  

Founded in 2013, Oyo started by aggregating bookings for India’s budget hotels, promising a standard of service in a market where that was more often the exception Even as Oyo Hotels and Homes, le by 25-year-old Ritesh Agarwal expands its horizons with Series F funding, it is finding itself in the cross hairs of an increasing number of Indian hotel …

OYO ties up with IIT Delhi to provide housing rental services to students
5 years, 3 months ago

OYO ties up with IIT Delhi to provide housing rental services to students

Live Mint  

Hospitality start-up OYO has tied up with IIT Delhi and Plaksha University to provide end-to-end fully managed housing experience for students. All OYO LIFE buildings will be equipped with essential amenities like Wi-Fi connectivity, television, refrigerator, AC, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking. Targeted at millennials and young professionals in search of fully managed homes on long-term …

Oyo to raise $200 mn for luxury push in US
5 years, 3 months ago

Oyo to raise $200 mn for luxury push in US

Live Mint  

Bengaluru: Oyo Hotels and Homes, the operator of India’s largest network of hotels, is in talks with financial institutions to borrow $200 million to buy premium and luxury hotels in the US, two people familiar with the matter said. The company, which bought Hooters Casino Hotel in Las Vegas last month, has identified the premium hotels segment as its area …

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 Hotels acquires Innov8, expands co-working space business
5 years, 5 months ago

Oyo Hotels acquires Innov8, expands co-working space business

Live Mint  

OYO Hotels and Homes, the world’s third-largest chain of hotels, homes, managed living and workspaces, on Tuesday confirmed its acquisition of Innov8, a co-working spaces provider, highlighting the company’s increasing focus on the fast-growing segment. Charting out its multi-brand approach to the workspaces opportunity in India, Oyo introduced three co-working brands under Oyo Workspaces: Innov8, Powerstation and Workflo for upper …

Oyo says it is world's third largest hotel chain by room count; UK, US markets remain strong growth drivers for company
5 years, 6 months ago

Oyo says it is world's third largest hotel chain by room count; UK, US markets remain strong growth drivers for company

Firstpost  

Today, Oyo has over 8,50,000 exclusive keys as part of its hotel chain, he added. New Delhi: Hospitality firm Oyo on Wednesday said it has emerged as the world’s third largest hotel chain as per room count with 8,50,000 rooms in its portfolio. In a span of six years, the company has expanded its presence to over 800 cities, more …

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 to expand 'SilverKey' hotels to 19 cities in 2019; eyes corporate travel sector to spur growth this year
5 years, 9 months ago

Oyo to expand 'SilverKey' hotels to 19 cities in 2019; eyes corporate travel sector to spur growth this year

Firstpost  

With the commitment to expand SilverKey footprint to 19 cities, Oyo is decisively betting big on corporate travel. New Delhi: Hospitality firm Oyo on Tuesday said it will be scaling its executive stays offering — SilverKey — to 19 cities across the country by end of 2019. “Our mission is to help customers find quality accommodation options right where they …

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 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’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 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 launches home management service in Dubai, plans to ramp up footprint to 200 homes in six months
6 years ago

OYO launches home management service in Dubai, plans to ramp up footprint to 200 homes in six months

Firstpost  

Starting with 40 homes in the Dubai, the hospitality chain plans to ramp up the footprint to 200 homes in next six months, OYO said in a statement. New Delhi: Hospitality firm OYO on Wednesday said it has launched its home management service, OYO Home, in Dubai as it plans to introduce the category to other emirates in the UAE. …

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 appoints former IndiGo president Aditya Ghosh as CEO for India and South Asia
6 years, 2 months ago

OYO appoints former IndiGo president Aditya Ghosh as CEO for India and South Asia

Firstpost  

The appointment comes in wake of the company’s focus to drive accelerated growth in its home markets – India and China, OYO said in a statement. New Delhi: Hospitality firm OYO said Thursday it has appointed former IndiGo President Aditya Ghosh as the chief executive officer for India and South Asia, effective from 1 December this year. “With Ghosh taking …

Oyo enters long-term housing rental segment, rolls out services in Noida, Gurgaon, Bengaluru, and Pune
6 years, 2 months ago

Oyo enters long-term housing rental segment, rolls out services in Noida, Gurgaon, Bengaluru, and Pune

Firstpost  

Oyo Living has onboarded about 36 properties with 2,000 beds, and the plan is to scale it to about 50,000 beds in the next one year Hospitality firm OYO has launched a new business - Oyo Living, focused on the long-term housing rental sector, a media report said. According to The Times of India, Oyo Living already has on-boarded about …

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 …

Success saga of OYO hotel network
6 years, 7 months ago

Success saga of OYO hotel network

The Hindu  

Five years after he dropped out of college, Ritesh Agarwal, 24, has transformed his start-up into India’s largest hospitality company. Preferred destination Mr. Agarwal, OYO CEO, has big plans for Andhra Pradesh and wants to create more budget rooms in Tirupati. He says the State is one of the most preferred destinations among Indians with high footfall from both leisure …

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