“Milestone alert 🙂 We are now the biggest hospitality tech platform in Indonesia with over 2,500 exclusive hotels available for bookings across 180+ cities! We have hosted over 13 million guests since 2018, recording 15x growth!,”
- Ritesh Agarwal, CEO, OYO Hotels & Homes
The hospitality sector was the worst hit by the business restrictions in the last three years. After the borders reopened and tourism took over its previous business, India’s hospitality tech giant Oravel Stays Ltd (OYO) has decided to dominate the hospitality industry in its home nation and abroad. The company has been eyeing extensive expansions in the continent of North America, Asia, and Europe. Recently, with its latest move to double the count of premium hotels in Indonesia, OYO is planning grand projects there. This is important because the company already has a significant presence in Indonesia. Now, the augmentation will make OYO Hotels & Homes the largest chain of hotels in the South Asian nation.
A Humble Beginning To A Multinational Presence
The multinational chain of hotels that now spans more than 800 cities in 80-plus nations started as a humble beginning in the Indian National Capital Region (NCR). OYO Hotels & Homes was created when Ritesh Agarwal came up with the idea at the young age of 17. The company established its first hotel in Gurugram with a patron in 2013. In no time, Ritesh came up with a website to digitalise the approach and established OYOrooms.com, which became the official website of the global platform. In two years, OYO spread to include over 10,000 rooms in 100+ cities nationwide.
The journey took an important turn towards foreign nations in 2016 when OYO established its first hotel in Malaysia. The company reached its milestone of a million check-ins in 2016. In 2017, OYO launched OYO Townhouse, a mid-market brand at selected locations for premium customers. In 2018, the company saw significant expansions to China, UK, and Indonesia. The same year, OYO established OYO OS to incorporate technology to simplify operations for property managers. Now, the mega-giant plans to revolutionise the hospitality landscape with its fully stacked technological package and innovative business model that significantly differentiates from a franchise.
Journey In A Glance
We have presented the fascinating journey of OYO Hotels & Homes in critical key points.
- Established In Gurugram (2013)
- Established OYOrooms.com (2013)
- Raised Series-A Funding (2014)
- Published OYO App (2015)
- Covered 100 Cities In India (2015)
- Grew to Malaysia (2016)
- Brought In Dynamic Pricing (2016)
- Reached 1 Million Check-Ins (2016)
- Established OYO Townhouse (2017)
- Expanded To The UK, China, And Indonesia (2018)
- Published OYO OS (2018)
- Set OYO Life (2018)
- Launched OYO Wizard (2018)
- Expanded To The USA, Middle East, And Europe (2019)
- Established OYO Lite And OYO Workplaces (2019)
- Entered Vacation Home Business (2019)
- Introduced Sanitised Stays (2020)
- Published Discover OYO (2020)
- Published OTA Powerplay And VaccinAid (2021)
- Published OYO 360 (2021)
Adding Buildings And Capital: Fundraising And Acquisitions
OYO Hotels & Homes creates more than a million job opportunities globally. This has been achieved with the help of essential investors like Didi Chuxing, Softbank Group, Greenoaks Capital, Lightspeed India, Hero Enterprise, China Lodging Group, and Airbnb. It raised USD 1 billion in 2018. In the subsequent year, Chinese Didi Chuxing invested USD 100 million in the company. OYO organised its Series F funding in October 2019, with Softbank Group, Sequoia India, and Lightspeed Venture Partners being the leading participants. It raised a total amount of USD 1.5 billion in this series. Moreover, OYO’s former and current employees started investing in it in 2021. Now, OYO has filed a Draft Red Herring Prospectus with SEBI and awaits what could be the largest IPO of 2023. Arguably, OYO has become one of the most popular Pre-IPO shares to invest in among stock traders.
OYO met a series of acquisitions on its way, namely Qlik Pass in 2016, Novascotia Boutique Homes in 2018, and Leisure Group in 2019. In ten years, OYO Hotels & Homes have bought, acquired, and partnered with several hotels, IT and travel companies.
OYO: Now The Largest Hospitality Tech Company In Indonesia
Ritesh Agarwal, the CEO, stated that they are now focussing on expanding the premium hotels in Indonesia, specifically Collection O and Townhouse Oak. The chief executive disclosed that they had achieved the milestone of 2500 hotels in Indonesia and are now present in more than 180 Indonesian cities. OYO aims to capitalise on the immense growth Indonesia’s hospitality and tourism sector is expected to witness in 2023. Indonesia recorded an estimated 633 million domestic trips in 2022. In 2023, the country’s Ministry of Tourism and Creative Economy aims to achieve 1.2 – 1.4 billion domestic tourist trips and 3.5 – 7.4 million international tourist arrivals.
OYO’s investment in Indonesia is arguably another long-term investment that has the potential to open gates to the next level of success for the enterprise. The company has received positive feedback from its partner hotels in the UK, the US, and other European nations. In general, partnered hotels disclosed an increased booking rate and profit after collaborating with OYO.
Company’s Futuristic Business Model Is Turning Heads
OYO Hotels & Rooms now prides itself on being a global hospitality tech company. The extensive product portfolio and the stages of innovation OYO introduced into the industry highlight the futuristic business model of the company. The present scenario is that the company is a verified unicorn, and peer-to-peer investors, capital ventures, banks, and retail investors have been considering OYO pre-IPO shares.
However, top IPOs are competitive, and the prices may increase due to bidding. Therefore, it is a good idea to consider buying OYO unlisted shares and become the company’s stakeholder well before the public offering. Stockify is a popular stock trading platform that facilitates exchanging top-performing unlisted shares. An expert team and a website full of market indicators support the retail investors associated with us. If you want to make a long-term investment that can bring you big profits, register with Stockify and start trading today.