Who doesn’t know about OYO Rooms. You must have booked hotels through OYO Rooms in many places. But have you ever heard the story of its founder. How a college drop out became the owner of such a big company. The Oyo Rooms founder story is an example of hard work and dedication.
Ritesh Agarwal is only 23 years old but at such a young age he has made many achievements in his name. The biggest example is his company OYO Rooms.
OYO Rooms is an application through which hotel booking can be done. Its 500 hotels across India have more than 50,000 rooms.
It was not easy to build a successful company like OYO Rooms. After leaving college, Ritesh has worked hard to open his own company.
Coming back to the Oyo Rooms founder story, there was a time when the landlord in Delhi did not even let him enter her house. He had to spend the night on the stairs of the same house for several days.
But Ritesh did not give up. He always believed in working hard. Ritesh started software coding at the age of 8. At the age of 16, he was selected for the ‘Asian Science Camp’ of the Tata Institute of Fundamental Research.
When Ritesh turned 17, he wrote the best-selling book. His book titled ‘The Encyclopaedia of Indian Engineering College’ was very popular. This year he also became the youngest CEO of India. His company ‘Worth Growth Partners’ was not very successful.
Ritesh opened a company called ‘Oraval’ in 18 years. He later changed the name of this company to OYO Rooms. Ritesh is the only person from India selected for ‘Thiel Fellowship’.
He was also included by Forbes as one of his ’30 Under 30′ entrepreneurs.
OYO Rooms has also reached Malaysia from India. All credit goes to Ritesh for making this company successful in the era of start-ups.
Ritesh Agarwal, Founder Of Oyo Rooms
Ritesh Agarwal, CEO and founder of OYO Rooms, is probably the biggest sensation in the world hotel industry at 25 years of age by promoting the largest chain in India, thanks to his idea of creating a hotel startup for ‘low cost’ establishments that , due to their poor conditions, they are about to close, and with which it aspires in 2023 to become the largest chain in the world.
How a simple development can change our life, 21-year-old Ritesh Agarwal is the biggest proof of this. In the past days, he had to go to the hotel to sleep one night under compulsion, then realized how difficult it was for people to find a hotel of their time in need. Four years later, Ritesh is the founder of Oyo Rooms. The firm has 2,200 hotels in 100 cities across the country. The one month turnover of this company of 1500 employees is Rs 23.39 crore.
There is no age limit and time is set for success. If you have ideas and vision then you can succeed at any age. One such example is 23-year-old Ritesh Agarwal, the founder and owner of OYO.
As we’re discussing the Oyo Rooms founder story, Riteish’s parents really wanted him to enroll in IIT and become an engineer. Ritesh was also staying in Kota, Rajasthan and was preparing for the IIT entrance exam.
But Ritesh did not want to wait to see his ideas and vision fulfilled. He left the preparation of IIT and started preparing for his business. 19-year-old Ritesh Aggarwal used to roam for months and stay in a budget hotel, so that he could know about all the things there. Ritesh started his first start-up journey on the basis of his experience.
Ritesh prepared a website where he used to give information about cheap and affordable hotels. The website was named ‘Oraval’.
After running the website for a few days, Ritesh felt that people might not understand the website due to the name. So he changed his name to OYO Rooms in the year 2013. CB
Insights of The New York Times placed OYO Rooms in companies that could achieve success in the future.
One of the biggest companies like SoftBank Group, GreenOx, Sequoia Capital and Lightspread India have invested in Riteish’s OYO Rooms. Ritesh Agarwal was selected for the ’20 Under 20′ of Thiel Fellowship in 2013.
It was about four years ago. Ritesh got trapped outside due to the interlock of his flat in Delhi. Went in search of the hotel to spend the night. He finds that the receptionist is sleeping. Somewhere the bed is bad and the bathroom is bad. Where proper arrangements were found, there was no card payment facility. Ritesh said, I thought that day why can’t good hotels and rooms in India be available at an affordable price? This is where Oyo
● In June 2013, he started Oyo Rooms by investing 60 thousand rupees.
● The firm contacted hotels that were not a brand. Asked their owners to increase facilities and train staff.
● Oyo also took a raft of his branding. The revenue of these hotels started increasing on seeing this.
● Ritesh created an app through which people can book hotels and rooms of their choice and budget.
● According to Ritesh, there were many difficulties in the beginning. Nobody was willing to believe that technology could be used.
● Eventually, Gurgaon started with the hotel. Ritesh says that I was the manager, receptionist and staff at that hotel.
● Sitting at night, he wrote code for his app and worked to improve the website.
● Gradually the team formed, the work progressed and our services started to appeal to the people.