OYO Rooms, commonly known as OYO, is an Indian hospitality service and budget hotel network.
OYO is India's largest branded network of hotels and operated in the budget segment of the hospitality industry. It is a technology driven chain of standardized budget hotels in 200+ Indian cities and over 7000 hotels. It ushered disruption in the Indian hospitality industry by through technology and standardization in the budget hotel segment, unlocking a huge market opportunity.
OYO was founded in 2013 by Ritesh Agarwal and is based in Gurugram, Haryana, India.
OYO revolutionalized the fragmented and legacy-driven budget hospitality space in India by enabling standardization of services, amenities and in-room experience.
OYO started with one city and one hotel in Gurugram in January 2013. The company has since grown to over 12,000 hotels in 337 cities in India, Malaysia, UAE, Nepal, China and Indonesia.
OYO uses proprietary apps for inventory-management, room-service, revenue-management and customer-relationship management, OYO has delivered predictable, affordable and available budget-room accommodation to millions of travellers in India.
OYO is backed by leading global investors including Softbank Group, RA Hospitality Holdings, Lightspeed Venture Partners, Sequoia Capital, Greenoaks Capital, DSG Consumer Partners and others. The company raised $806.75, this is the first tranche of $1.5B Series F round announced in October 2019. This brings OYO's total funding to $2.51B to date.
OYO rooms plans to implement a digital register mechanism which will allow them to share their customer data in real time with the government. This may allow government to see in real time the guest information easily. OYO is more popular among unmarried couples than families, thus this move really imposes a threat to privacy for them.
OYO was valued at a massive $5B+ in it's latest "Series E" funding of a $75M from Airbnb in Apr 1, 2019. The company has also acquried Novascotia Boutique Homes, AblePlus Solutions Pvt. Ltd., Weddingz, & Innov8 to date.
OYO was recently chosen as India’s Most Promising Hotel Network (HolidayIQ Better Holiday Awards 2017) and has received several accolades including Express IT Startup of the Year Award (2015), NDTV Dream Chaser of the Year (2016) and IAMAI Digital Startup of the Year (2016).