Oyo Rooms – Successful Story
Oyo Rooms is the largest branded network of hotels currently operating in India and Malaysia. OYO Rooms is one startup that needs no introduction. Ritesh Agarwal, Founder and CEO of OYO, began his journey in January 2013, starting with one hotel in Gurgaon. The company, as of October 2016, has around 6,500 hotels in over 220 cities in India, and has been named India’s largest funds hotel chain.
They determined on support their leadership team with the hiring of Anil Goel as their first CTO and Smriti Subramanian as their General Counsel. Oyo Rooms started and well-known as branded hotel rooms aggregator, provides many more services than just hotel rooms to visitors. The most important and profits generate service. Oyo has combined with hotels which provide services at pre-determined prices and pre-determined quality.
Oyo’s scheme includes booking a part of the hotels’ inventory and holding it captive for Oyo customers. They hire some rooms every month and provide them to users at a take up rate.
Oyo Rooms has aligned even with 2 star hotels and guest houses, standardized them, and provided them under Oyo’s brand on their website and application. The partners used to book their own hotels when they used to see lesser prices on the Oyo’s platform and this became a malpractice benefiting the partners while burning holes in Oyo’s pockets. To curb this, and to expand the business, Oyo Rooms has started hire of hotels where it has the full control over the day-to-day operations of these establishments.