OYO Rooms is a website for booking hotel rooms online, it is India’s largest and fastest-growing hotel network chain which is spread over 199 cities and it’s headquartered at Gurugram in Haryana. OYO Rooms stands for On Your Own Rooms. Ritesh Agarwal is the CEO and Founder of OYO Rooms, Oyo rooms value is now almost ₹35000 crore. So, today we will see how a teenager boy Ritesh Agarwal built India’s largest hotel network Oyo rooms worth ₹35000 crores.
Ritesh Agarwal Biography
Ritesh Agarwal is an Indian entrepreneur born on 16th November 1993 in Bisam Cuttack, Odisha state. He was from a middle-class Marwari family having their own small business.
He completed his primary and secondary education from Scared Heart school which is present in Cuttack, thereafter he came to Kota for preparation of IIT-JEE. He always loves to travel so, when he was in Kota he travelled many places with his friends.
While he was in Kota he had a written a book named A Complete Encyclopedia Of Top 100 Engineering colleges. At the age of 16, he was selected for ASIAN SCIENCE CAMP which was sponsored by Tata Institute Of Fundamental Research.
Ritesh loves to spend time in reading books on Entrepreneurship, startups and biographies of successful entrepreneurs, he also loves to attend entrepreneurship programs. indifferent cities, while travelling he faced many problems in hotels.
For his higher studies, Ritesh came to Delhi and take admission in Indian school of business and finance but he never completed his higher study to start his own business he drop out of college. In 2012 after a complete planing Ritesh lunched his Very first startup ORVAL STAYS and the main focus of the startup is to provide good quality rooms to people who love to travel at the cheapest price.
How OYO Rooms started
In 2012 18 years old Ritesh Agarwal launched Orval Stays which provides a good quality room to people in very low price and also started its online platform for hotel bookings and after a year so many researches and experiments in 2013 Ritesh pivoted ORVAL STAYS to OYO Rooms and started to design a great living place on hotel rooms owned by him. He provided a good quality washroom, home quality rooms and best foods to his customers.
He was smart enough that he planned everything that how to raise funds and how to expand its services at a result OYO got fundings from many investors and companies. And in a very short period of time, OYO expanded its hotel networking chain in almost every state and cities of India.
And because of its excellent services people love to use OYO Rooms while travelling to different cities and this is how OYO became India’s No 1 hotel networking chain without any competitor.
Ritesh Agarwal Success Story
In 2016 OYO Rooms launched its hotel networking chain in Malaysia and in 2017 at Nepal and OYO get a very good response from the customers and expanded its business to UAE, China, the United States, Saudi Arab etc and created a great living space for a common man.
Now companies value is almost ₹35000 crore rupees and to achieve this overnight success Ritesh struggled for 5 years and now there are almost 50 startups that are copying OYO Rooms business model but Oyo never copied anyone made his own market place bring a service that solved many problems that a common man faces while travelling.
Ritesh Agarwal awarded by Forbes 30 under 30 in the consumer tech sector, Top 50 entrepreneurs in 2013 by TATA First Dot, Bussiness world young entrepreneurs award etc. He always dreamed to be an entrepreneur and today his hard work and determination bring him the success, and also solved a major problem of hotel bookings.