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The Marvel of OYO - Gateway to the house of success.

Get an insight into the success story of OYO and the marvel of the entrepreneur claiming victory over the hospitality landscape across the globe!


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CHARU SHARMA

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Advertere- The Marketing Society of MSI

2 years ago | 1 min read

The flair for entrepreneurship is essentially inherent to not just an individual’s choices but also the thoughts and ideas that reinforce them. Ritesh Agarwal and the success of OYO stand in association with the initial blaze of problem identification and the subsequent efforts to fill the identified gaps in the market. Ritesh Agarwal, albeit a college dropout sought a higher purpose that catered to the needs inherent in our society coinciding with raging issues of low or middle income families and individuals in search of affordable hotels, fulfilling a basic standard check.

 Initiating the endeavour with Oravel Stays, an aggregator for all affordable bed and breakfasts available in the chosen location, the endeavour accelerated towards the launch of OYO rooms in 2013. The dynamism of Ritesh and his team furthered the alignment towards conducting checks upon identified accommodations thus orienting the vision of hygiene and comfort for the prospective user.

Ritesh serves to be an observational entrepreneur, feeding into the identified gaps in the market. He serves to be the youngest self-made billionaire whose vision branches toward consumer delight in alignment with prospective growth and optimization of the brand as a whole.

OYO’s current marvel has passed multiple rough patches over the rugged landscape of start-up risks amplified by the outbreak of the pandemic. The occupancy had dipped by 50 per cent in 2020 but OYO has always seen an upper trajectory of growth since its incorporation, operating in 800 cities across the world and branching towards different segments with a well-established range of offerings.

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CHARU SHARMA

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Advertere- The Marketing Society of MSI


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