Ritesh Agarwal
Founder and CEO, OYO Hotels & HomesBirth DetailsNovember 16, 1993 | Bisamkatak, Orissa
NationalityIndian
LeagueEntrepreneur
EducationCollege dropout
Net Worth$1.1 billion (Hurun Rich List 2020)
Ritesh Agarwal's Assets:
Ritesh Agarwal's Journey so far...
Before you go ...
- Oyo Hotels
Ritesh Agarwal's Journey so far...
- Born in Bissamcuttack, a hotbed for Naxals, in Southeast Odisha, Ritesh Agarwal grew up in the small town of Rayagada. After completing his schooling, he went to a Delhi college but dropped out
- Agarwal started an online short-stay accommodation listing venture, Oravel, at a young age. It was later incubated by Mumbai-based startup accelerator Venture Nursery
- As he was a college dropout, Agarwal qualified for the Thiel Fellowship, which gives $100,000 to entrepreneurs below 20 years who skipped college and started their own business. The fellowship is set up by early Facebook investor and PayPal co-founder Peter Thiel
- Based on the model of US-headquartered Airbnb, Ritesh Agarwal founded OYO Hotels and Homes in 2013 and currently is one of the world's leading chain of hotels. By the age of 22, he became a millionaire
- Under his leadership, the Gurugram-headquartered OYO expanded rapidly from India to Malaysia and the USA, and is today present in 80 countries and in over 800 cities. In one of his biggest bets in 2017, Agarwal launched OYO in China
- He raised a series of funds from firms like SoftBank, Hero Enterprise, China Lodging Group, ride-hailing companies Grab and Didi Chuxing. In July 2019, Agarwal undertook a $1.5 billion stock buyback, along with pumping in an additional $500 million into OYO valuing the startup at $10 billion
- From a small-town boy who used to sell SIM cards in Odisha, Ritesh Agarwal became one of the world's youngest self-made billionaires. He featured in the Hurun Rich List 2020 with a net worth of $1.1 billion.
Before you go ...
- Ritesh Agarwal named his startup OYO - 'On Your Own', so that one is in control of his own. He gave this name as he did not get control of the television remote to watch his favourite programs with his cousins
- Agarwal draws inspiration from another college dropout Bill Gates and Ola co-founder Bhavish Agarwal
- Right from an early age, he was keen on writing. He also had a knack for computer programming and started taking coding lessons from the age of 10
- Known to have a sweet tooth, in an interview to ET he said, “I love gorging on chhena poda (roasted sweet cheese)."
- In one of his hotels, he once earned a Rs 50 tip after a family was impressed by his babysitting skills.
Last Updated: 12/02/2021
Ritesh Agarwal News
- Indian corporations poised to become large brand owners in US: Oyo founder Ritesh AgarwalIndian companies are poised to become significant brand owners in the United States. This shift will enhance India's global influence beyond Bollywood and IT. Technology is a key driver for this expansion. Ritesh Agarwal, founder of Oyo-parent firm PRISM, believes India's moment has arrived. Indian brands will soon be used and appreciated by American consumers.
- Oyo parent Prism gets Sebi nod for IPO; plans to raise Rs 6,650 crore: SourcesHospitality firm Oyo's parent company, Prism, has received SEBI's approval for its IPO, aiming to raise Rs 6,650 crore. The company plans to file an updated draft prospectus within two months, marking its third attempt to go public. This comes as other new-age companies reassess their IPO plans due to market volatility.
- Oyo founder Ritesh Agarwal has an NFL tip for BCCI: 'Next IPL season better come with...'OYO founder Ritesh Agarwal was impressed by the NFL's Bad Bunny halftime show, suggesting the IPL incorporate reggaeton. While the Super Bowl's cultural spectacle garnered massive viewership, the IPL final alone surpassed it, highlighting the Indian Premier League's immense scale.
- Jaiwardhan Tyagi: This 13-year-old Ghaziabad boy bags Rs 60 lakh on Shark Tank 'when kids of his age are playing Roblox'A 13-year-old boy from Ghaziabad impressed Shark Tank India Season 5 with his AI healthcare startup, Neurapexai. Jaiwardhan Tyagi secured Rs 60 lakh funding from investor Aman Gupta. While some Sharks noted the idea was early-stage, the pitch was hailed as inspiring. Ritesh Agarwal offered mentorship. Neurapexai analyzes medical data to generate reports.
- Oyo parent files confidential papers with Sebi, eyes Rs 6,650 crore IPO at $7–8 billion valuationOyo parent PRISM has filed confidential IPO papers with SEBI, aiming to raise up to Rs 6,650 crore at a $7–8 billion valuation. The move follows recent profitability, bonus share issues, and growth from acquisitions. SEBI’s pre-filing process allows regulatory refinement ahead of a public offering.
- From OYO's Ritesh Agarwal to BlissClub's Minu Margaret: Check out 155 entrepreneurs in Hurun India's under-35 listAvendus Wealth and Hurun India have unveiled the U35 List, celebrating 155 exceptional young leaders under 35. These entrepreneurs are driving innovation across diverse sectors, from traditional industries to new-age businesses. Bengaluru leads with the most honourees, highlighting its status as India's startup capital.
- Oyo-parent PRISM launches new hotel vertical called 'CheckIn'PRISM, OYO's parent company, has introduced CheckIn, a new hotel vertical encompassing premium value brands like Townhouse Hotels and Sunday Hotels. CheckIn aims to redefine premium stays in India by offering curated experiences built on quality and trust. The collection promises professionally managed properties with trained staff, wholesome breakfast, and enhanced in-room amenities, setting a new standard for hospitality.
- Oyo parent Prism launches 'CheckIn' app for premium hotels, homesPrism, Oyo’s parent company, has launched a new app called CheckIn for its premium hotels and homes globally. The app features high-end brands like SUNDAY Hotels and Palette. While CheckIn targets luxury travellers, the original Oyo app will remain focused on those seeking budget-friendly accommodation options.
- IPO-bound OYO’s unlisted shares jump 26% in a month, beating listed peers. Time to buy?Oyo's unlisted shares have surged 26% in the past month amid IPO buzz, outperforming listed peers. This surge is attributed to robust Q1 earnings, potential bonus shares, and aggressive expansion. While analysts are divided on valuation, some anticipate continued revenue growth, supported by industry tailwinds, despite concerns about lower PAT margins compared to industry averages.
- Oyo changes corporate entity name to PrismOravel Stays, parent of Oyo, has rebranded as Prism to reflect its global portfolio across hotels, vacation homes, and coworking spaces. Preparing for a third IPO attempt, the firm is targeting a $6–7 billion valuation. The company reported profits in FY24 and FY25 after earlier losses, despite a slight dip in operational revenue in FY24.
- Oyo Q1 FY26 PAT doubles YoY to Rs 200 crore; revenue grows 47% to Rs 2,019 croreOyo has reported a profit after tax of over Rs 200 crore in the first quarter of fiscal year 2026, with revenue growing 47% to Rs 2,019 crore. The company's Gross Booking Value surged 144% to Rs 7,227 crore, driven by hotel openings and premiumization.
- Oyo's board approves IPO planHospitality chain Oyo, backed by a board including industry veterans, is preparing for a fresh IPO filing after two previous attempts were withdrawn. The new filing will highlight improved financial performance, with the company reporting approximately Rs 1,100 crore in EBITDA for FY25. Oyo anticipates further growth, projecting a profit after tax of Rs 1,100 crore in FY26.
- OYO founder Ritesh Agarwal reveals people called his startup ‘YoYo’ once. Kapil Sharma quips, ‘Be careful, Honey Singh might…’The Great Indian Kapil Show's teaser is creating buzz. Kapil Sharma engages with startup founders. Vijay Shekhar Sharma, Aman Gupta, Ghazal Alagh, and Ritesh Agarwal will appear. They share stories and enjoy Kapil's humor. An audience member suggests a business idea. Aman Gupta appreciates Archana Puran Singh's laughter. The episode premieres on Netflix on August 23.
- India-UK FTA deal: Oyo’s Ritesh Agarwal says Indian startups set for major uplift, job creationIndia and the UK signed their long-awaited Free Trade Agreement on July 24, which is expected to boost bilateral trade by around $34 billion annually. The deal was formalised in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.
- Fashion commerce startup Culture Circle bags undisclosed amount from Oyo’s Ritesh Agarwal at Rs 100 crore valuationThe Gurugram-based startup, which operates as a luxury marketplace, enabling users to compare prices across verified sellers of authenticated sneakers, t-shirts, streetwear, and watches, will use the fresh funds for enhancing its AI engine, expanding into new product categories, and entering global markets.
- 'You don't need millions': OYO's Ritesh Agarwal on how to start a hotel business in the US with just $10,000OYO founder Ritesh Agarwal shares a detailed plan for starting a hotel business in the US with as little as $10,000. His strategy involves finding the right property, securing financing through various means, initially managing the property personally, and then scaling operations to generate income. He emphasizes the importance of starting and learning from experience.
- SC refuses to halt insolvency proceedings against Future Ideas, a part of erstwhile Kishore Biyani-led Future GroupThe Supreme Court declined to halt insolvency proceedings against Future Ideas Company Ltd, a Future Group entity, but has asked Axis Trustee Services and resolution professional Ritesh Agarwal to respond to an appeal by Anil Biyani. The appeal challenges the NCLAT's order upholding FICL's insolvency admission based on a default of ₹122.83 crore to Axis Trustee Services.
- IPO-bound Oyo seeks to rename parent firm to pursue premiumisationCompant founder Ritesh Agarwal shared that it should be a bold, one-word corporate name, global in feel, not tied to one culture or language, tech-forward, sharp, but also human and memorable, and broad enough to grow beyond hospitality, preferably with a .com domain available. He offered a prize of Rs 3 lakh to the winner along with a chance to meet him.
- Oyo owned Belvilla acquires short-term rental platform MadeComfyBelvilla by Oyo has acquired Australian short-term rental platform MadeComfy in a cash-and-stock deal, valuing Oyo at approximately $5 billion. The acquisition expands Belvilla's presence into Australia and New Zealand, adding over 1,200 assets to its portfolio. Oyo also acquired G6 Hospitality in December 2024 and anticipates significant revenue growth and profitability in the coming years.
- 'Forget romance, hire a COO': Bengaluru founder warns founder couples to keep spouses out of start-upsAnurag Singh cautions against mixing marriage and startups, highlighting the high failure rate due to co-founder conflicts and emotional burnout. He emphasizes the importance of separation, especially in the early stages, suggesting founders prioritize professional boundaries and reliable childcare. Singh advises that working with a spouse is only viable post-product-market fit, with clearly defined roles and readily available therapy.
- Oyo becomes most profitable Indian startup in FY25 with Rs 623 crore profit: Founder Ritesh AgarwalOyo became India's most profitable startup in FY25 with a PAT of Rs 623 crore, up 172% YoY. It posted 27% growth in adjusted Ebitda and 20% revenue growth, driven by premium offerings and global expansion across hotels and homes.
- Oyo puts off third IPO attempt after SoftBank takes issueOyo Hotels has postponed its India listing plans for October. SoftBank disagreed with the IPO plan, asking for stronger earnings first. Oyo previously attempted to go public in 2021 and March 2023. Ritesh Agarwal faces a debt repayment deadline if the IPO doesn't happen soon. SoftBank may assist Agarwal in getting a loan extension in exchange for delaying the IPO.
- WEF Young Leaders list: From OYO's Ritesh Agarwal, Aviation Minister to Anurag Maloo, here are Indians who made itThe World Economic Forum has unveiled its 2025 Young Global Leaders list, recognizing 116 individuals under 40 for their impact across diverse sectors. OYO's Ritesh Agarwal, Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu, and five other Indians are among those honored. These exceptional leaders from nearly 50 countries are committed to improving the world.
- OYO's Ritesh Agarwal shares why he carries 3 phones, including an iPhone 7 – Watch the Shark reveal the reasonOYO's CEO, Ritesh Agarwal, shared the contents of his backpack in a recent YouTube video, revealing practical items for work and travel. He carries multiple smartphones, including an old iPhone for legacy data, and several passports due to frequent international travel. Agarwal also includes a MacBook, protein water, and dental floss in his everyday essentials.
- Shark Tank contestant Aquapeya asked to stop selling water brand by CourtPackaged water brand Aquapeya, funded by Shark Tank’s Namita Thapar and Ritesh Agarwal, has been ordered by the Bombay High Court to halt operations after Bisleri International accused it of trademark and copyright infringement. The accusation followed Aquapeya’s admissions on the show about benefiting from the market goodwill of established brands.
- Oyo on track to achieve revenues of Rs 2100 cr in Q4FY25: Founder Ritesh AgarwalOyo founder Ritesh Agarwal announced that Oyo is expected to achieve over 60% revenue growth in Q4 FY2025, targeting Rs 2100 crore. The company's organic revenue growth stands at 42%. Oyo forecasts a profit after tax of Rs 1100 crore for FY2026. Core markets like India and the US, along with emerging markets, contributed significantly.
- Oyo elevates Sonal Sinha as CEO of newly acquired G6 HospitalityOyo has appointed Sonal Sinha as CEO of G6 Hospitality, the American motel company it recently acquired. This addition is expected to bring significant synergies and growth potential, with G6 contributing significantly to Oyo's projected $3 billion gross booking value. Kavikrut transitions to CEO of T-Hub.
- Oyo speeds up IPO plans as founder’s debt repayment date loomsOyo Hotels is accelerating its IPO plans as a significant debt repayment deadline looms. Creditors demand founder Ritesh Agarwal settle $383 million of his $2.2 billion loan by year-end unless Oyo goes public this year. The startup is in talks to value the firm at up to $5 billion.
- Oyo founder Ritesh Agarwal says he still cleans hotel washrooms—The reason may surprise youOyo founder Ritesh Agarwal emphasizes humility in leadership by personally cleaning washrooms in his hotels. He stresses the importance of leaving pride and fear behind to succeed. Reflecting on his entrepreneurial journey and personal experiences, Agarwal advocates prioritizing impact over pride.
- AI can help hospitality sector, Oyo focusing on pre-check in process: CEO Ritesh Agarwal"Fundamentally our business was built on the back of dynamic pricing. Now, it was not designed on models that today's world of AI is using because we started our business 7-8 years back," said Ritesh Agarwal, cofounder, Oyo.
- OYO CEO Ritesh Agarwal shares how Mahakumbh gave him a $2 billion business ideaOYO founder Ritesh Agarwal visited Mahakumbh Mela in Prayagraj. He shared a video on social media, expressing memories of his first visit decades ago. Agarwal hoped his son Ary finds inspiration from the event. Social media users praised his humility. Agarwal and his wife Geetanshi welcomed Aryan in 2023, celebrating their new chapter of parenthood.
- When Shark Tank India entrepreneurs disclose their dating history, Aman Gupta of boAT asks, ‘Why did you get married?’A couple, Vaishali and Yash, pitched their 'mukhwas' business Joyspoon on Shark Tank India, seeking Rs 40 lakh for a 1.5% stake. Despite an impressive presentation, the sharks found their valuation of Rs 26 crore too high. Aman Gupta's humorous marriage query sparked interest, but only Ritesh Agarwal invested, offering Rs 40 lakh for 2% equity.
- Hospitality startup Oyo readying to file IPO papers in first quarterAfter two previously shelved attempts, the hospitality company Oyo is reviving its initial public offering (IPO) plans, aiming to file draft papers by the first quarter of the next financial year, ET has learnt.
- Oyo investors look to sell stake at $3.9-billion valuationHospitality startup Oyo’s early investors, such as Lightspeed Venture Partners, are in talks with family offices to divest a portion of their stake at a valuation of around $3.9 billion, sources told us. This stake sale is at a premium of more than 60% to the Rs 1,457 crore funding round in August 2024 when top family offices invested in the now profitable hospitality startup.
- 'Kuch toh gadhbadh hai, Daya’: Shark Tank 4's Aman Gupta reacts after noticing pitcher's sudden change in voice tone while talking to Ritesh AgarwalPaurav Rastogi and Shamin Kapoor presented Speed Kitchens on Shark Tank India. Their business offers shared kitchen spaces for growing food brands. Paurav's storytelling about his past work experiences drew attention. Sharks noted his change in behaviour around Ritesh Agarwal, suggesting familiarity. Speed Kitchens aims to revolutionise the Cloud Kitchen landscape in India.
- Shark Tank 4: Who is the Gurgaon teenager, Himanshu Rajpurohit? The 19-year-old almost bagged a deal from sharksHimanshu Rajpurohit, 19, faced rejection on Shark Tank India despite impressive initial reception. He sought Rs 75 lakhs for 1 percent equity but was overconfident and poorly prepared. His website, created just days before the show, raised doubts among the judges. Investors expressed concerns about his approach and the lack of innovation.
- Oyo changes check-in policy for unmarried couples: Shaadi.com's Anupam Mittal says 'ab to OYO discount banta hai'Shark Tank India judge Anupam Mittal humorously asked OYO Rooms CEO Ritesh Agarwal for a discount code on Twitter following OYO's new check-in policy for unmarried couples starting January. The policy requires proof of relationship before hotel stays. Social media users joined in with witty remarks and suggestions related to OYO and Shaadi.com discounts.
- Shark Tank judge and Shaadi.com founder Anupam Mittal asks Oyo CEO for discounts after Oyo changes check-in policyShaadi.com founder Anupam Mittal humorously requests a special discount code from Oyo CEO Ritesh Agarwal. It follows the new policy requiring unmarried couples to provide relationship proof at Oyo partner hotels in Meerut. Mittal's post sparks creative responses and jokes on social media. The playful exchange highlights brand synergy and entertains audiences.
- Not Shimla or Manali, OYO’s Ritesh Agarwal surprised by the hill stations that took the lead in New Year bookingsOYO Rooms' founder, Ritesh Agarwal, has revealed that several lesser-known hill stations and spiritual destinations saw a dramatic surge in bookings this New Year. Locations like Coorg and Mussoorie experienced notable growth, while spiritual sites like Shirdi and Ajmer also attracted record numbers of travellers. OYO's global bookings increased by 58% compared to 2023, with over 10 lakh users on New Year's Eve. The company also posted a profit, buoyed by its acquisition of G6 Hospitality.
- Oyo completes G6 Hospitality acquisition from Blackstone Real Estate for $525 millionOyo has acquired G6 Hospitality, including Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million. This acquisition will boost Oyo's earnings and expand its North American presence. Oyo's founder Ritesh Agarwal is increasing his stake in the company. The startup also reported its first profit and continues to grow in key markets.
- Zepto founders top Hurun list of youngest self-made entrepreneursKaivalya Vohra, 21-year-old co-founder of Zepto, is India's youngest self-made billionaire. Zepto's valuation has surged 259% in a year. Other young entrepreneurs like Shashvat Nakrani, Dilsher Malhi, Karan Mehta, Ritesh Agarwal, and Rajan Bajaj are also making significant strides in India's startup ecosystem.
- Oyo's valuation at $4.6 billion after Nuvama Wealth acquires Rs 100 crore stakeOyo's valuation reached $4.6 billion after Nuvama Wealth's recent share acquisition. Founder Ritesh Agarwal also bought back shares. The company's profitability continues to improve, projecting a threefold increase in net profit for FY2025 after acquiring G6 Hospitality. Oyo reported its first-ever profit in FY2024 and saw increased revenue in Q2 FY2025.
- OYO opening new hotel in Rajasthan every 2-3 days; to set up back office for overseas biz: CEO Ritesh AgarwalOYO is rapidly expanding in Rajasthan, adding a new hotel every few days and establishing a back office to support its international operations. The company's CEO, Ritesh Agarwal, anticipates a record-breaking winter tourism season, citing post-pandemic travel demand and consistent growth in the hotel industry.
- Ritesh Agarwal to invest Rs 550 crore to increase his shareholding in OyoOyo's CEO, Ritesh Agarwal, is increasing his stake in the company by purchasing an additional Rs 550 crore worth of shares. This move comes as Oyo reports significant profit growth, driven by global expansion and strategic acquisitions, including the recent purchase of G6 Hospitality.
- Oyo registers Rs 158 crore net profit in July-Sept quarterThe hospitality company had made a loss of Rs 50 crore in the same period last year. Its emphasis on premiumisation through the launch of company-serviced hotels under its Townhouse banner, and other hotel brands, helped the Gurugram-based company add to Q1 profit of Rs 132 crore.
- IPO-bound OYO rejigs top leadership with five elevationsOYO has announced new leadership roles. Sonal Sinha is now COO International and Rachit Srivastava is COO of OYO Vacation Homes in Europe. Leadership updates include Shashank Jain as Head of Technology & Online Revenue, Pankhuri Sakhuja leading German home listings and flex-space business, and Ashish Bajpai as Head of Revenue & Global OTA. Changes aim to drive growth.
- Oyo's GBV reached Rs 10,700 crore in FY24, co reports first time PAT of Rs 229 cr for last fiscalAs per new filings accessed by ET, Oyo's hotel count grew from 12,938 hotels at the end of financial year 2023 to 18,103 at the end of financial year 2024, marking a 40% growth. The company's vacation homes business added 5000-6,000 homes, reaching 84,600 homes by the end of financial year 2024.
- Hurun's Richest Indians list: 21-year-old Kaivalya Vohra is the youngest. Check full listHurun India has revealed its 2024 list of the richest Indians, featuring 21-year-old Zepto founder Kaivalya Vohra as the youngest. Vohra's net worth stands at Rs 3,600 crore, followed closely by his 22-year-old co-founder Aadit Palicha with Rs 4,300 crore. The list also includes young billionaires from various sectors.
- Oyo clocks net profit of Rs 132 crore in Q1 of FY25Oravel Stays Ltd., the parent company of Oyo, has clocked a net profit for the first quarter of the fiscal year 2025, founder Ritesh Agarwal said in a townhall on Wednesday.
- Oyo projects three-fold rise in FY25 PAT at Rs 700 croreAccording to founder and CEO Ritesh Agarwal, Oyo achieved a net profit (PAT) of about Rs 132 crore in Q1 FY 2025, a turnaround from the Rs 108 crore loss reported for the same quarter of the previous fiscal year.
- Byju’s-BCCI settlement in trouble; Ola Electric Q1 loss widensIn a setback for Byju’s, the Supreme Court has stayed the NCLAT's approval of its settlement with the BCCI. This and more in today’s ETtech Top 5.
- Oyo posted Rs 229 crore net profit in FY24, claims founder Ritesh AgarwalIn May, Agarwal had posted on X that the January-March quarter of 2024 was Oyo’s eighth consecutive quarter of positive Ebitda, while providing a provisional number of ₹100 crore for profit after tax.
- Founder Ritesh Agarwal invests Rs 830 crore in Oyo's latest funding roundPost the equity dilution in the Series G funding, Agarwal's holdings will increase from 29.97% earlier, to 32.57% post the investment, sources told PTI.
- We had our maiden net profitable financial year at nearly Rs 100 cr: Oyo founder Ritesh AgarwalAgarwal had shared with employees in February that it has doubled its profit after tax (PAT) sequentially in quarter three of financial year 2024 to Rs 30 crore. The company had marked its maiden profitable quarter with a PAT of over Rs 16 crore in quarter two of fiscal year 2024.
- Oyo posts maiden annual net profit of Rs 100 crore in FY24: founder Ritesh AgarwalOyo reported its first profitable fiscal year in 2023-24 with a net earning of nearly Rs 100 crore. Founder Ritesh Agarwal highlighted growth prospects in key markets like Nordics, South East Asia, US, and UK. Fitch Ratings upgraded Oyo's credit rating, acknowledging its strong performance.
- JP Morgan extends Rs 200 crore credit facility to OyoJP Morgan has provided Oyo with a Rs 200 crore credit facility to support the expansion of Oyo's Accelerator Programme. Launched in March last year, the program aids over 700 hotels and 85 first-generation hoteliers, offering mentorship, technology access, financial support, and networking opportunities.
- Indian entrepreneurs who dropped out of school and collegeRitesh Agarwal, Nithin Kamath, Azhar Iqubal and other entrepreneurs who dropped out.
- Oyo launches Shark Tank-inspired loyalty programmeCustomers can avail a free night's stay after seven room nights, an additional 5% discount on Oyo's network of over 3,800 Wizard hotels in India, as well as other rewards in the form of Oyo money under Wizard Shark. Valid for three months, the programme offers free membership renewal. Originally launched in August 2018, Oyo's Wizard programme, with more than 4.4 million active members, is among the largest loyalty programmes in the hospitality industry in India, the company said.
- Aroa Venture Partners launches $50 million fundAroa Opportunities Fund, which registered as a category II alternative investment fund (AIF) with Securities and Exchange Board of India (Sebi) in October 2022, has received in-principle commitments of over Rs 400 crore so far, founder and managing partner Gaurav Gulati told ET in an interaction.
- Oyo clocks Rs 30-crore profit in Q3FY24, founder Ritesh Agarwal tells employeesPeople familiar with the matter said Agarwal stated that in the upcoming quarters, it anticipates a consistent rise in PAT, driven by ‘enhanced’ patron confidence, ‘improved’ customer experience, and ‘favourable’ market conditions conducive to sustained growth.
- Oyo expects consistent PAT rise in upcoming quarters, CEO Ritesh Agarwal tells employeesAgarwal shared the update about the two-fold increase in the company's profit during an employee town hall on Friday.
- Oyo boss Ritesh Agarwal meets Rana Daggubati, reveals ‘Baahubali’ star is a seasoned angel investor!From animation studio to comic book empire, the 'Baahubali' star has his finger in more than a few lucrative pies!
- Corporate India's power brigade turns out in full force at AyodhyaIndia Inc's power brigade, including Mukesh Ambani, Sunil Bharti Mittal, Kumar Mangalam Birla, and other prominent business leaders, attended the Ram Temple consecration ceremony in Ayodhya. Notable attendees also included Nishant Pitti, CEO and co-founder of EaseMyTrip, and Zoho CEO Sridhar Vembu.
- 'The energy is infectious': Ritesh Agarwal, OYO founder, posts pics from inside the Ayodhya Ram MandirOYO founder Ritesh Agarwal visited Ayodhya for the Ram Mandir consecration, sharing vibrant pictures and expressing the infectious energy within. Commencing his spiritual journey from Jagannath Temple in Puri, Agarwal's post on X received over 11,600 views, with individuals conveying blessings and love for Ayodhya. The images depict the adorned temple, a Sanskrit phrase, a floral peacock, and Agarwal inside.
- Driven by surge in Ayodhya, Oyo to open 400 new properties in major spiritual hotspotsBudget hospitality chain Oyo plans to launch 400 new properties in major spiritual hotspots of the country, including Ayodhya, Puri, Shirdi, Varanasi, Amritsar, Tirupati, Haridwar, Katra-Vaishno Devi, and the Char Dham route. This move is in response to a surge in domestic travel and rising interest in spiritual tourism. The company aims to cater to the increasing demand for accommodation near key landmarks and religious sites.
- OYO founder Ritesh Agarwal launches 5 healthcare centers for underprivileged in OdishaRitesh Agarwal, the founder of OYO, has revealed plans to establish five healthcare centers in Odisha within the next year, aiming to provide medical services to underprivileged communities. Operated by health-tech startup Last Mile Care, these centers, strategically located in regions with limited healthcare access, aim to bridge the gap for marginalized populations.
- Ritesh Agarwal becomes a dad, says 'new chapter' has begunThe OYO founder also shared a picture of his baby boy and wrote about beginning an exciting new chapter of his life along with wife Geet.
- Ritesh Agarwal, Deepinder Goyal: New Sharks of Shark Tank 3The new season if Shark Tank India is going to begin soon. Recently, the popular show introduced three new 'sharks' who will be investing in the show.
- 'Shark Tank India' gears up for season 3 with new 'Sharks'; Zomato chief Deepinder Goyal, OYO boss Ritesh Agarwal join juryThe shooting of the third season of 'Shark Tank India' has already begun! Let's meet the news 'Sharks' in town.
- OYO founder Ritesh Agarwal's wife pregnant: 'Feel free to share...'OYO Rooms founder Ritesh Agarwal, who got married to his long time partner Geetansha Sood earlier this year, announced her pregnancy on October 13.
- Shark Tank India: After Oyo's Ritesh Agarwal, Zomato's Deepinder Goyal joins judges panelZomato founder and CEO Deepinder Goyal is the latest ‘shark’ in the panel of business reality television show Shark Tank India 3.
- Ritesh Agarwal, OYO founder and youngest Shark in Shark Tank 3Founder and CEO of OYO Rooms, Ritesh Agarwal, will join the panel on popular business reality TV show Shark Tank India Season 3.
- Oyo founder Ritesh Agarwal joins Shark Tank India season 3 as judgeIn the third season, Agarwal will join Lenskart founder Peyush Bansal, Shaadi.com founder Anupam Mittal, Boat founder Aman Gupta, Sugar Cosmetics founder Vineeta Singh, Emcure Pharmaceuticals' executive director of India business Namita Thapar and CarDekho Group CEO and cofounder Amit Jain.
- Oyo founder Ritesh Agarwal becomes the youngest shark on ‘Shark Tank India 3’Ritesh Agarwal, the founder and CEO of OYO Rooms, will be joining the panel of the popular show Shark Tank India. At 29, Agarwal will be the youngest shark on the panel, which already consists of several other industry experts. Agarwal expressed his excitement about being part of the show and supporting emerging entrepreneurs in India. Shark Tank India provides a platform for business aspirants to pitch their ideas to experienced investors, who decide whether to invest in their companies. The show's third season will be streaming soon on Sony LIV.
- Oyo founder Ritesh Agarwal's unforgettable entrepreneurial tale inspires him to keep goingRitesh Agarwal, the founder of Oyo Rooms, shared an anecdote on social media about an incident that occurred in the early days of his start-up. He had to choose between attending to the needs of hotel guests or taking a call from a potential investor.
- 'Never lose sight of profitability.' Oyo founder Ritesh Agarwal's golden advice for every founderRitesh Agarwal, the billionaire founder and CEO of OYO Rooms, highlighted the importance of profitability for companies, stating that no company can survive indefinitely without generating profits.
- Oyo clocked adjusted ebitda of Rs 175 crore in Q1, CEO Ritesh Agarwal tells employeesOyo had reported its maiden EBITDA positive quarter in an addendum filed with Sebi for its IPO reporting a Rs 7 crore adjusted EBITDA in quarter one of the last financial year.
- Oyo founder in clean-up mode: Ritesh Agarwal vows to make lodging more hygienic, conducts hotel audits himselfRitesh Agarwal, the founder and CEO of OYO Rooms, has launched a new initiative called Spotless Stay. He announced that a group of officers would conduct daily hygiene audits to improve the cleanliness standards of the hotels partnered with OYO.
- Fitch revises outlook on Oyo's IDRs to positive from stableFitch said it has also affirmed the rating on the $660 million senior secured term loan facility due 2026, issued by Oyo's fully owned subsidiary, Oravel Stays Singapore Pte Limited, at 'B-'.
- Fitch revises Oyo's outlook to 'positive', affirms ratingsFitch affirmed the ratings on the $660 million senior secured term loan facility due 2026, issued by Oyo's fully owned subsidiary, Oravel Stays Singapore, at 'B-'. The outlook revision is on the optimism that Oyo is on track to generate positive EBITDA and cash flow from operations sustainably, driven by a greater reduction in operating costs despite weaker-than-expected growth in gross booking values (GBV) in FY23.
- This is the story of when OYO CEO Ritesh Agarwal doubled as the cleaning crew and front desk managerAgarwal became the first Asian recipient of the fellowship grant of $100,000, which enabled him to return to India and start his hospitality business OYO. When he had just returned from his time at the Thiel Fellowship and he had just started OYO, he would fill in for any role that there was an a need for, he would often fill in as hotel staff, or cleaning crew or even customer care.
- What is Thiel Fellowship? OYO's Ritesh Agarwal got $100,000 from itRitesh Agarwal OYO founder: OYO founder Ritesh Agarwal regrets not having formal education. OYO founder Ritesh Agarwal awarded $100,000 for Thiel
- OYO founder Ritesh Agarwal missed out on college experience, but credits Thiel fellowship for 4 lessons that helped his entrepreneurial spiritOYO Rooms founder Ritesh Agarwal has reflected on his decision to drop out of college to become an entrepreneur. At 20, Agarwal founded OYO Rooms which has since become one of the world's top hotel chains.
- OYO founder Ritesh Agarwal asks to 'never forget' this; Do you agree?Oyo founder Ritesh Agarwal speech at IIM Nagpur, OYO founder Ritesh Agarwal asks not to forget roots.
- 'Don't forget your roots.' OYO Rooms founder's life lesson for people who are in pursuit of excellenceOyo founder Ritesh Agarwal recalled his mother's wise words and said that those lessons continue to stay close to his heart to this date.
- SoftBank-backed Oyo to reduce planned IPO by two-thirds amid tech headwindsIn the filing, Oyo will outline plans to sell just a third of the new shares it originally planned, eroding the amount of fresh capital it is expected to receive.
- Oyo tells employees it expects nearly Rs 800 crore adjusted EBITDA in FY24People familiar with the matter said Agarwal told staffers during the town hall that this can be attributed to 'sustained growth' in India, Indonesia, the US and UK besides ‘relevant optimisations’ and ‘synergies’ in the European vacation homes market.
- Who is OYO founder Ritesh Agarwal's wife, Geetansha Sood?OYO founder Ritesh Agarwal marriage with Geetansha Sood: All you need to know about Geetansha Sood.
- OYO boss Ritesh Agarwal ties the knot with fiancee Geetansha; Softbank CEO, Paytm boss attend receptionThe newlyweds were seen touching the feet of Softbank boss Masayoshi Son.
- 'Set for a new beginning!' OYO boss Ritesh Agarwal, fiancée invite PM Modi for their March nuptialsThe OYO Rooms founder is one of the country’s youngest billionaires.
- Startups, new-age firms shouldn't consider growth and profitability as trade-offs: panel at ET Global Business SummitThe panel of leaders from the new economy sectors was debating the balance between growth and profitability as business prudence takes centre stage at technology companies and startups.
- Ritesh Agarwal, founder of hotel chain OYO, invites PM Narendra Modi to his weddingRitesh Agarwal, the founder of Oyo Rooms, invited Prime Minister Narendra Modi to his wedding next month and shared pictures of their meeting on social media.
- We need to talk: Oyo launches new feature for customer feedbackOyo said that to capture customer feedback, it has rolled out a feedback section on its website landing page, and on its app called 'We need to talk'
- Budget with vision puts India on the path to be a world champ: India Inc leaders"Union Budget 2023 heralds good news for both industry and the common man. FM (finance minister) continues to focus on investments and policies keeping the USD 5 trillion economy ambition in line of sight. Balancing both the strategic and tactical announcements, this budget lays impetus on the seven key priority areas."
- OYO founder Ritesh Agarwal hopes for the removal of 12% GST on hotel rooms in Budget 2023Ritesh Agarwal, the founder of OYO Hotels & Homes, anticipates that the 12% GST on hotel rooms costing less than Rs 1,000 should be eliminated in the Union Budget 2023–24.
- Infra status, rationalisation of GST on hospitality sector's Budget 2023 wish listWhile tourism and hospitality in India are currently witnessing a boom, the industry still requires government’s support to fully recover, said Ritesh Agarwal, founder and group CEO of Oyo.
- Oyo saw over 4.5 lakh bookings on New Year's eve: founder Ritesh AgarwalIn a series of tweets, Agarwal spoke about the "busiest day of the year" for the travel technology company and shared that Oyo saw higher bookings in Varanasi as compared with Goa.
- Oyo to layoff 600 employees as part of 'wide ranging' changes in organisation structureOyo says it's downsizing people in its product and engineering teams, but also hiring staffers in relationship management and business development. The company said the downsizing in tech is also happening in teams that were developing pilots and proof of concepts such as in-app gaming, social content curation and patron facilitated content.
- Mohandas Pai slams Oyo over 'fake accounting', hospitality major repliesFormer Infosys Director T.V. Mohandas Pai slammed Ritesh Agarwal-run Oyo for allegedly misleading investors via 'fake accounting' as the hospitality major reported its maiden positive EBITDA during the first quarter of the current fiscal.
- J&K Lieutenant Governor Manoj Sinha inaugurates 75 Oyo homestaysThe inauguration is a part of the ongoing Azadi Ka Amrit Mahotsav - an initiative of the Government of India to celebrate and commemorate 75 years of independence.
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