2. Introduction
Oyo room is indias largest branded network of hotels,
founded by Ritesh agarwal.
It operates min more than 100 cities in India.
First in class app based hotel booking on the. Go
Headquatered and operated by Gurgaon Haryana.
First started by name of Oravel Stays pvt ltd. In 2012.
3. Ritesh Agarwal 21 year old owner of Oyo Rooms.
Drooped out college in 2012 when he was 17 year old for his startup.
Founder
4. Funding
2012: OYO Rooms got its first round of funding from Venture Nursery in
December 2012.
2014: Another round of funding came from Lightspeed Ventures in
February 2014.
2015: In March 2015, OYO Rooms raised $25 million from Lightspeed,
Sequoia and others.
2015: In July, 2015, OYO Rooms raised $100 million from SoftBank.
5. Business Model & Growth
OYO Rooms is an online aggregator of budget hotels. OYO Rooms
partners with hotels with the aim of standardization on various
measures in each room including free wifi and breakfast, flatscreen TVs,
spotless white bed linen of a certain thread count, branded toiletries, 6-
inch shower heads, a beverage tray and so on.
The standards are audited every few days so that the customers are
assured a quality experience. OYO’s budget stays range from 999 ($16)
to 4,000 rupees ($66). OYO provides property owners with support such
as quality standardized supplies and service training. OYO boasts of a
24x7 in-house customer service center.
6. OYO Rooms started with 1 city and 1 hotel (OYO Rooms Huda City
Centre) in Gurgaon in May 2013 and has seen a tremendous growth.
The company as of August 2015 has 2,000+ hotels (more than 20,000
rooms) in 100+ cities of India.[15] The company plans to add more than
50 cities by the end of 2015.[16] OYO Rooms has been named India's
largest budget hotel chain.
Cont..
7. Listing of hotels
OYO Rooms reaches out to prospective hotels to partner with them. A
hotel owner can also reach out to OYO through their webpage.
The OYO team then contacts the hotel and audits the hotel to
understand the changes needed to standardize the property as per
OYO standards, and shares other details of the partnership
agreement.
