OYO full form is On Your Own Rooms. It is the largest hotel network in India, which is spread across 199 cities. It is headquartered in Haryana at Gurugram. It strives to become the most beloved hotel brand in the world. OYO has more than 6,500 hotels at an unrivaled price that delivers a standardized and comfortable stay.
O = On
Y = Your
O = Own Rooms
With just one hotel in Gurugram, OYO began its services and today. It has about 70,000 rooms in 7,000 hotels throughout India. The founder & CEO of OYO is Mr. Ritesh Agarwal. OYO does not own any of the hotels or run them. It simply links up with the hotels and ensures that hotels provide guests who book rooms via the OYO platform or app, as specified by OYO, with quality services.
OYO collaborates with hotels to provide a consistent visitor experience in different cities. Ritesh Agarwal got a $100,000 grant from PayPal co-founder Peter Thiel shortly after starting Oravel Stays as part of the Thiel Fellowship, a two-year program.
OYO presently employs over 17,000 people worldwide, with about 8000 in India and South Asia. OYO Hotels & Homes is a full-service hotel company that leases and franchises hotel properties. In India and South Asia alone, the corporation invests in capex, appoints GMs to supervise operations and customer experience, and creates nearly a million job possibilities. In addition, OYO has established 26 training institutes across India for hospitality aficionados.
Several press stories and social network posts reported that OYO had filed for bankruptcy in April 2021, however CEO Ritesh Agarwal confirmed that this was not the case. He did reveal, however, that the National Company Law Appellate Tribunal (NCLAT) began an insolvency proceeding against OYO Hotels in response to a hotelier’s petition regarding a monetary dispute with the company.
Services and products
OYO Townhouse: The OYO Townhouse is designed with millennial travelers in mind. The hotel has been completely redesigned for luxury, effectiveness, simplicity, and budget, from the breakfast menu to the booking process. Each Townhouse is designed to complement its surroundings.
OYO Home: OYO claims to be India’s first Home Management System, offering individual homes in various areas that are completely controlled by the company. OYO Homes are carefully created to provide you with a one-of-a-kind lodging experience. Each one is designed to complement the natural beauty of its surroundings and offers the same high level of service, facilities, luxury, and efficiency as OYO-managed hotels.
OYO Vacation Homes: With vacation rental management brands Belvilla, Danland, and DanCenter, as well as Germany-based Traum-Ferienwohnungen, which claims to be the world’s third-largest vacation home brand.
SilverKey: The service, which was established in April 2018, caters to the demands of corporate travelers on short or long-term business travels.
Capital O: provides hotel reservation services.
Palette: An upper-end leisure resorts category, offers the ideally crafted staycation for people looking for a simple experience at affordable pricing.
Collection O: Business travelers can use the company’s booking and rental services.
OYO LIFE: Millennials and young professionals looking for completely managed long-term rentals at a reasonable pricing point.
YO! HELP: Check-ins, check-outs, and payments are all supported by this self-help service. ‘Yo! Help’ is a real-time chat assistant available 24 hours a day, 7 days a week for OYO customers who have made a valid booking at any of the OYO hotels and houses across India. Guests may get answers to their questions with Yo! Help at any time during their stay with OYO, from pre-booking to post-checkout and cancellation.
Why is it called Oyo?
This company is run by a young entrepreneur. The acronym OYO refers for “on your own” rooms, which seems like something a teenager would come up with. Perhaps this is because OYO’s founder and CEO, Ritesh Agarwal, founded their company at the age of 19 leaving university. The idea came to Agarwal while he was making a bag of captives in India and noted his lack of confidence and foresight when choosing a place to live.
Is Oyo safe for unmarried couples?
Unmarried couples are not prohibited from staying in hotels together. Staying together is a personal decision that must be respected as part of one’s freedom of mobility.
Do police raid on Oyo rooms?
However, OYO Rooms has a 1-2 % probability of being raided by the police. And any police raids you’ve heard about have been primarily in response to the hotel or complaints from nearby residents who had issues with the hotel’s operation.