www.oyo.com an on-line website portal-OYO hotel rooms paves way for better hotel accommodation, better services and a preview for all the facilities that are offered by various hotels in India. This hotel rooms online booking website helps various customers to know and verify the facilities that are available and can hence make their hotel stay a memorable experience without any hassles. The Beautiful mind behind OYO Rooms is its’ CEO and founder Ritesh Agarwal who is an Indian Entrepreneur. OYO Rooms is an emerging branded budget hotel network in India. Ritesh Agarwal is the First Asian resident to become a Thiel Fellow, one among the ‘20 Under 20’ fellows to win Thiel Fellowship 2013. He began his career by forming Oravel Stays as an aggregator of Bed and Breakfasts across India and then formed OYO Rooms to create India’s first branded standardized budget hotels network.
Ritesh Agarwal’s OYO Hotel Rooms, www.oyo.com Paves Way For Better, Hassle Free Hotel Accommodation Experience
With Oravel Stays, Agarwal realized that mere aggregation of bed and breakfasts couldn’t address the fix of budget travelers in India completely and felt the need for predicable and quality standardized branded budget hotels which could cover basic needs of a modern budget traveler at unmatched room rent.
In 2013, Agarwal transformed Oravel to OYO Rooms, where in the company standardizes budget hotels in its technology enabled network to deliver hassle free and pleasant stay in the budget and economy hotels sector of Indian Hospitality industry. Mr Agarwal has since led the company with 4000 rooms, 350 hotels, more than 500 employees with three rounds of funding and growing.
Born to a business class family in Bissam Cuttack, Agarwal went to Sacred Heart School in Rayagada, Orissa. At the age of 13, he gave an early start to his career and travelled across India, while staying as a paying guest at various hotels and inns. As a student, Agarwal wrote his first book – ‘Indian Engineering Colleges : A Complete Encyclopaedia of Top 100 Engineering Colleges (English) 4th Edition’
Agarwal, a college dropout and the first Asian to graduate as a Thiel Fellow (the Thiel Fellowship backed by PayPal founder Peter Thiel requires its Fellows to drop out of school) says his is an original business model. “We are not building an Indian alternative to what has been attempted in the Silicon Valley or China.”
India is a large market, geographically, as well as a diverse market. As Indians’ spend basket grows, demand for hotel accommodation is surging like never before. “In smaller towns, people check into OYO hotels when power supply goes down at their home – our hotels guarantee air-conditioning; younger Indians check in to budget hotels because they don’t want to go home drunk (to their parents).
There are ever-increasing types of hotel consumption in India” says Kavikrut (who goes by a single name), head of expansion at OYO. Demand spikes when cities host cricket matches, for instance.
Achievements By OYO www.oyorooms.com CEO, Founder Ritesh Agarwal
Agarwal is the first resident Asian to win ’20 Under 20’ Thiel Fellowship 2013.
He was named one of the Top 50 Entrepreneurs in 2013 by TATA First Dot powered by NEN Awards
Agarwal is also an NCSE Awardee and was among the finalists of Global Student Entrepreneurship Awards-India
Agarwal was named one of the ‘8 Hottest Teenage Start Up Founders in the World’ in 2013 by Business Insider
Agawal was awarded the TiE-Lumis Entrepreneurial Excellence Award in 2014