Success comes in variety of ways
Some people are born to become successful by following the right methods. However, some beg to differ. They choose unconventional business methods and ideas to become successful. The person that fits in the second set is none other than Ritesh Agarwal, Owner of OYO Rooms. Born into a business family in Orissa, the life was not that difficult for Ritesh. However, his ‘out of the box’ thinking always made him different.
Ritesh loved to work with computers and was inclined towards software and programming. He started coding when he was just eight years old. After his tenth grade, he made up his mind to take coding and decided to prepare for SAT. In 2011, he decided to do something of his own and prepare for SAT. However, SAT did not happen. Later, he started reading about entrepreneurs, start-ups and businesses.
He even enrolled himself into University of London’s course at Indian Business School. However, his urge to start his own venture was more powering. Ritesh always had concerns for quality accommodations of budget travelers. He believed that they were not given basic needs for their economical stay. He wanted to have something on the terms of Airbnb and that is why he founded Oravel Stays. After three months of research, he stayed in several guest houses and small hotels, he came upon an idea of On Your Own (OYO) Rooms. It became a hospitality company that mainly catered to budget hotels. He raised funds through investment and started hotels in places like India, Nepal, China, Singapore, England, Malaysia, Philippines, UAE, Sri Lanka and Japan among others.
In late 2017, OYO homes was launched for short term managed rentals. It has presence in various holiday destinations like Goa, Shimla, Pondicherry, Udaipur and Kerala among others. In April 2018, OYO launched its first international OYO Home in Dubai. Currently, Oyo Rooms - a network of 2,200 hotels has operating in 154 cities across India with monthly revenues of $3.5m and 1,500 employees. This was an exceptional way of looking at things which made Ritesh Agarwal a young entrepreneur receiving many accolades. For more tricks and tips, please follow Woodstock Hospitality blog.