The hospitality industry is witnessing an 8-year-high this year, with average occupancy rate touching 65 per cent for the first time since 2008. OYO, India’s largest hospitality company, is comfortably ahead of the industry with an occupancy rate of 75 per cent.
The only hospitality company to be listed by LinkedIn India as one of the top 10 companies to attract best talent, OYO is clearly driving growth of the Indian hotel industry.
Obsessed with providing standardized, affordable and clean accommodation, Ritesh Agarwal – the 23-year old Founder-CEO of OYO has established a network of 7000 hotels across India. After launching in Malaysia last year, Ritesh took OYO to Nepal – along with its promise of catalysing local economy by enabling quality accommodation for travellers.
Sharing how a carefully-crafted strategy and planning has led to this growth, Ritesh said “OYO’s pioneering business model and approach changed how hotels were managed and booked in India. When we started out, our in-room amenities and experience were first standardized on multiple measures in one property in Gurgaon which we operated for a year, this was then scaled across the breadth and width of our network. Today OYO is the country’s largest provider of affordable hotel stays. We launched our first hotel in Kathmandu last month and will on-board 100 properties there by the end of this year.”
