Yes, OYO is an Indian company. It is an Indian multinational hospitality and travel tech company headquartered in Gurugram, Haryana, India. The company basically provides a digital platform offering a chain of leased and franchised hotels, independent homes and living spaces. OYO empowers small hotels and property owners with modern technology solutions to standardise, manage and market accommodations.
OYO is a global player in the hospitality industry, with a network of thousands of hotels and homes in India and abroad. The company operates on a business model featuring leasing, renting and partnerships with independent properties. OYO offers a number of services, such as digital check-in, dynamic pricing, operational tools and loyalty programs.
| Details | Info |
| Founded | 2012 |
| Founder | Ritesh Aggarwal |
| Headquarters | Gurugram, Haryana, India |
| CEO | Ritesh Aggarwal |
| Sector | Hospitality |
Company History
OYO was launched in the year 2012 by Ritesh Aggarwal as Otravel Stays, which served as a budget accommodation listing and booking website. Otravel Stays was renamed to OYO in the year 2013. In the same year, OYO Rooms was launched, with the first property in Gurugram. The company introduced standardised amenities like branded toiletries, clean linens and Wi-Fi.
By the year 2014, OYO had expanded to 100 cities in India, with more than 10,000 rooms across the country. In the year 2015, OYO launched its mobile application and implemented standardised processes for partner hotels. OYO expanded beyond India by commencing operations in Malaysia in 2016. The company achieved 1 million check-ins in the same year.
In the year 2017, OYO launched Townhouse, a premium economy brand covering spaces like cafes and co-working areas. OYO expanded to Nepal, China, UAE and Indonesia in the 2017-18 period. In the year 2019, the company further expanded to US, Europe and Middle East.
Current Status
OYO’s network currently comprises of 22,700 hotels and 119,000 homes across 91,300 active listings in more than 35 countries worldwide. Key markets for the company are India, United States, Europe, Middle East and Southeast Asia. OYO has exceeded 100 million downloads on Play Store.
Recent offerings by OYO include elite properties with 4+ ratings under Super OYO, pay at hotel facility in over 400 US properties and expanded network of Sunday Luxury hotels in India, UAE and Saudi Arabia.
Future Outlook
OYO is focusing on boosting its presence in US and Europe, especially in short-term rentals and event-driven travel. The company is also looking to expand into religious tourism hubs like Ayodhya and high-margin markets like UAE. OYO is expected to increase investments in its mid-premium and luxury segments like Sunday and Super OYO, in a gradual shift from budget hotels.