Ritesh Agarwal, the visionary entrepreneur behind OYO, has become a hospitality industry leader, change people's perceptions and experiences with low-cost accommodations all over the world. His journey from small-town visionary to CEO of one of the world's fastest-growing hospitality chains exemplifies his perseverance, smart thinking, and strong faith in his vision. In 2012, he founded Oravel Stays, a bargain housing website, then in 2013, he created OYO Rooms, which transformed the hospitality landscape.

Idea Behind OYO Rooms

OYO, or 'On Your Own,' was founded with a purpose of offering standardized and economical housing. Ritesh's in-depth understanding of the challenges of affordable housing, along with his unique strategy, drove OYO's quick rise. The website offered a variety of low-cost hotels, guesthouses, and homes, all subject to high-quality standards to ensure a consistent and comfortable stay.This devotion to excellence, combined with Agarwal's endless effort, drew attention and investment.

Under Agarwal's leadership, OYO expanded not only in India but also globally.

The company's ambitious expansion included strategic partnerships, acquisitions, and a strong technological infrastructure. OYO changed built hospitality designs by leveraging technology to streamline operations, improve client experiences, and support hotel partners. Agarwal's ability to face challenges and adapt when essential led significantly to OYO's amazing success.

Concept of OYO

"OYO is stands for On Your Own" . Ritesh then improved the previous company idea, which is today known as OYO Hotels. They begin offering affordable rooms with standard amenities at over 1000 hotels across India, although OYO does not own any of them. This idea made Ritesh Agarwal a billionaire at the age of 23.

OYO Rooms Successful Journey & Ventures

2013: Ritesh Agarwal receives $100,000 grant as part of Thiel Fellowship.

2014: Secures first series A funding.

2015 - March: Attracts $25 million in funding.

2015 - April: Launches OYO app, initiating rapid expansion.

2015 – July: Secures $100 million in series C funding from SoftBank.

2016: Achieves milestone of 1 million check-ins; expands to Malaysia.

2017: Ventures into Nepal market.

2018: Expands globally, establishing presence in UK, UAE, Dubai, China, Singapore, and Indonesia; achieves unicorn status.

2019: Expands to over 500 cities globally, offering more than 330,000 rooms.

Under Agarwal's leadership, OYO, the hospitality and travel tech startup, reached an important milestone with the creation of positive cash flow in the fourth quarter of the year 2023. According to a presentation given to staff, the company ended Q4FY23 with a cash flow surplus of Rs 90 crore, indicating a positive financial outlook. This achievement puts OYO on track to have its first profitable year since its launch in 2013, with a projected adjusted EBITDA of around Rs 245 crore in FY23.

In September 2018, the company raised $1 billion in investment. By July 2019, reports stated that Agarwal had invested $2 billion in shares, increasing his position in the firm.

OYO Rooms was valued at $9.6 billion in August 2020, after raising $5 million from tech giant Microsoft. OYO Rooms began their IPO filing process in October 2021.During difficult times, OYO had to make adjustments, laying off 400 staff in December 2019 and more during India's lockdown in March 2020.

Despite this, OYO is determined to expand into important areas like as India, China, Southeast Asia, the Middle East, and Europe.OYO Rooms has received funding from significant investors such as SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb, and China Lodging Group.

Ritesh Agarwal – Investments in Shark Tank India

Announced Date	Organization Name	Funding Round
December 19, 2023	Beyond Odds	Venture Round
November 2, 2023	FroGo	Seed Round
January 19, 2023	The Forest Collective	Grant
January 19, 2023	Siachen Naturals	Grant
January 19, 2023	Nima Goos Goos	Grant
January 19, 2023	Ladakh Brew	Grant
November 30, 2022	Vetic	Seed Round
June 8, 2022	Pepper Content	Series A
May 8, 2022	Josh Talks	Seed Round
January 27, 2022	Growth School	Seed Round

Global Footprint & Strategic Expansion

As of 2025, OYO operates around 22,700 hotels and approximately 119,900 homes, with nearly 91,300 active listings globally. A major boost came from its US operations, especially after acquiring G6 Hospitality (Motel 6 & Studio 6), which contributed over 24% of FY25 revenue, up from ~15% in FY24.

Premium Offerings & New Launches

OYO has aggressively expanded its premium hotel segment, launching 30+ new Sunday Hotels across India, Southeast Asia, UAE, Saudi Arabia, and Europe. The company is targeting 100 Sunday Hotels by FY26, establishing itself in the upper mid-scale hospitality market.

Company?Serviced Hotels: Performance & Growth

In India, OYO manages 1,300 company-serviced hotels under brands like Townhouse, Capital O, Palette, and SUNDAY. These hotels contribute about 22% of total booking revenue and are expected to reach 44% by FY26, expanding to 1,800 properties across 300+ towns and cities.

These properties also deliver higher occupancy, better guest ratings (4.6 vs 4.0), and improved financial metrics compared to partner-run hotels.

Legal & Regulatory Developments

OYO received a favorable ruling from the Delhi High Court, which stayed a ?1,140 crore Angel Tax demand for AY 2021–22. The court also dismissed Zostel’s execution petition, setting aside an earlier arbitral award—marking a significant legal victory for OYO.

Forward Outlook for FY26

Looking ahead, OYO targets a $233 million EBITDA run-rate and EPS of $1.31 by FY26, driven by global expansion and a rising share of high-margin, company-serviced hotels—especially in the US market.

IPO Plans on Hold

Despite earlier intentions, OYO has delayed its IPO for the third time in early 2025. The company is focusing on financial consolidation and debt servicing before proceeding with its public listing plans.