Tag Archives: Ritesh Agarwal

OYO Hotels has appointed Aditya Ghosh as the Chief Executive Officer (CEO), India and South Asia, effective December 1, 2018. With an experience of over 21 years, he has been entrusted with the responsibility of overseeing and growing the hotel business in South Asia, including India, Nepal and the other upcoming markets in the region. He will be a thought partner to every OYOpreneur, by enabling a work culture that rewards performance and celebrates diversity and inclusion. Commenting on his appointment, Ritesh Agarwal, Founder and Group CEO, OYO Hotels and Homes, said, ‘’In the last five years, OYO Hotels and Homes expanded its global footprints to over 500+ cities in seven countries, from Indonesia to the UK, with China and India as home markets. Today, we host guests from around the world in over 12,000 franchised and leased hotels and over 330,000 rooms. Of this, we have over 5500 leased and franchised hotels and over 143,000 rooms in India. This year, we also saw a 3x growth in revenue. As we grow our business, we feel it is essential to continue to invest in building one of the most influential leadership teams and bringing in professionals with an entrepreneurial mindset and from diverse backgrounds that can help lead the next wave of growth at OYO Hotels. With Aditya taking on this mantle for one of our home markets, India and the broader South Asia region, we are confident that he will be able to help OYO Hotels set new benchmarks in the hospitality industry and nurture a high-performing workforce. His business acumen, problem-solving capabilities and customer-centric approach to innovation helped him build an influential brand that is loved by all, makes …

OYO has announced its entry into the long-term fully managed housing rentals – OYO Living, geared to provide upgraded living experiences at an affordable price for India’s growing population. Perfectly suited for the changing housing needs of India, OYO Living will offer a first-of-its-kind, end to end managed and high-quality living experience that eliminates the hassles of finding, accessing and managing everyday housing. These accommodations are easy to find and easier to live in, where all OYO Living residents can experience the benefits of shared spaces while enjoying financial independence. With this, OYO aims to become the leading brand in the long-term housing rental and accommodations business and the biggest provider of housing in India. At the time of launch, OYO Living will have 35+ live properties, with over 2000 beds in Noida, Gurgaon, Bangalore and Pune, targeted at millennials and young professionals. With most assets currently operating already resulting at full occupancy, OYO Living will aim to expand to the top 10 metros by the end of 2019 and will offer over 50,000 beds. Commenting on the launch, Ritesh Agarwal, CEO & Founder, OYO Hotels & Homes, said, “OYO Living represents our ongoing commitment to continue innovating and creating world-class stay experiences from India. With the launch of OYO Living, we are all set to offer something new while remaining true to our core mission of creating beautiful living spaces. This launch marks a key milestone as we embark on our journey towards becoming India’s biggest provider of housing, consolidating our position as a category innovator and leader.” Piloted in mid-2018, OYO Living offers residents fully managed independent residential units, inclusive of contracting, furnishing, cleaning, maintenance, and in-stay services.

With over 10 full-inventory – franchised and operated hotels and more than 1100 rooms in 3 emirates – Dubai, Sharjah and Fujairah, OYO Hotels has launched its operations in the United Arab Emirates (UAE). The property is ready to offer the benefits of its full-stack technology-led hospitality model to hoteliers across the country, with room rates starting 150 dirhams. OYO plans to host guests in over 12,000 rooms, 150 Hotels and all 7 emirates across UAE by 2020. According to data from Dubai Corporation of Tourism & Commerce Marketing (Dubai Tourism), overall, Dubai hotel room supply is set to reach 132,000 by the end of 2019. The Dubai Tourism also forecasts the hospitality sector to experience sharp, sustained growth over the coming years, with occupied room nights set to reach 35.5 million annually in 2019, representing a 10.2 per cent compound annual growth rate over the next 24 months. Commenting on the developments, Ritesh Agarwal, Founder and CEO, OYO Hotels, said, “With over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically the UAE, is poised to grow substantially and with our market learnings and expertise, we are ready to tap this opportunity. We’ve been at the forefront of the budget and mid-segment hotels revolution in the markets we operate in, and can bring in our operational expertise and technology edge to the benefit of independent hotel owners. As per a recent report, Dubai alone will host over 20 million visitors and currently records approximately hotel keys per resident at 29.9 per 1,000 people.” Vartika Goel, Country Lead, OYO Hotels, UAE, said, “The country is an attractive market with sizeable internet …

Expanding its presence in China in November 2017, OYO has grown its presence in the country by 50,000 exclusive rooms with a strong presence in cities including Hangzhou, Xian, Nanjing, Guangzhou, Chengdu, Shenzhen, Xiamen and Kunming among others. It recently launched its exclusive hotels in Hulunbeier City, Sanya City and Hainan Province. Commenting on the business performance, Ritesh Agarwal, Founder & CEO, OYO said, “We are thrilled with the response OYO Hotels has received in China. It is well-established that there is a great demand for good-quality accommodation among the 400 MM middle income people in the country. July was a milestone month where we added 25,000 rooms to our chain and look forward to achieving a similar feat in the coming months. It’s been a truly exciting journey for us and we believe that the innovation and R&D being offered in China will assist us and the mission globally.” With its unique business model, OYO works in close proximity with its hotel partners while ensuring a quality living experience to guests, promising benefits to both. In India, OYO has a 100,000-exclusive-rooms strong chain with a presence in over 160 cities with Malaysia and Nepal as the other two international destinations where the chain is present.

Hotelivate has kicked off its 6th Hotel Operations Summit India (HOSI) at Taj Palace, New Delhi with stimulating discussions on topics pertaining to the hospitality industry. HOSI, the only dedicated forum for hotel professionals in the region, aims to empower today’s hospitality leaders through enabling conversations on management and operations-related issues, the rapidly evolving marketplace, latest industry trends, benchmarking and best practices. With the focus on increasing the diaspora of the speaker by bringing in leaders from businesses that are intricately tied up with the hospitality industry, the programme encompassed a series of keynote addresses by distinguished speakers and thought-provoking group discussions. Notable speakers included industry leaders such as Anshuman Bapna, Chief Product Officer, Goibibo; Dilip Puri, Founder and CEO, Indian School of Hospitality; Jiggs Kalra, Mentor and Culinary Director, Massive Restaurants; Raj Rana, Chief Executive Officer – South Asia, Radisson Hotel Group; Rattan Keswani, Deputy Managing Director, Lemon Tree Hotels; Navjit Ahluwalia, Senior Vice President and Country Head – India, Hilton; Ritesh Agarwal, Founder and CEO, OYO Rooms; Puneet Chhatwal, Managing Director and CEO, Indian Hotels Company, to name a few.

OYO has formed a strategic partnership with Motherland Joint Ventures, the group that has helped build India’s global brands, including Incredible India, Royal Enfield, Make in India and IndiGo. This partnership will enable OYO and Motherland to co-develop a series of exciting new hotel formats and enhance various aspects of customer experience – including key touch points such as Interiors and ergonomics – all of which will offer guests an unprecedented combination of style, efficiency and affordability. This category transformation process began in 2017 with the launch of OYO Townhouse, the ‘friendly neighbourhood  hotel’ that is receiving rave reviews as it rapidly expands across the country. This alliance will facilitate and strengthen OYO’s mission of creating beautiful living spaces via its innovative approach to brand strategy, product definition and customer experience design. As part of this strategic partnership, OYO and Motherland will be launching a massive new retail collaboration that will feature a mix of original products specially designed for new age brands such as OYO Townhouse. Initially available exclusively at OYO Townhouses, Motherland products will soon be available at other OYO spaces, including online channels. Commenting on the partnership, Ritesh Agarwal, Founder & CEO, OYO said, “In our pursuit of creating beautiful living spaces, the partnership with Motherland will enable us to co-develop new, exciting hotel formats and enhance guest experiences – including Interiors and ergonomics – offering guests an unprecedented mix of style, efficiency and affordability. We are confident the Motherland alliance will augment OYO’s overall value propositions through their skills in brand strategy, marketing and designing.”  

Having inked its first business acquisition, OYO has entered into an agreement with Chennai-based service apartment company, Novascotia Boutique Homes. The acquisition will add to the company’s existing portfolio and reiterate its focus on corporate service. Commenting on the development, Ritesh Agarwal, Founder & CEO, OYO said, “The acquisition forms an integral part of our inorganic growth plan, in line with our ambition to create quality living spaces and add value to every form of real estate. OYO is poised to deliver 180,000 keys by the end of 2018 and with Novascotia’s strength, we will be adding service apartments to our existing portfolio.” With this acquisition, OYO will bring its distribution, operational, transformational and technological capabilities on board for offering corporate travellers accommodation options. The acquisition will boost OYO’s portfolio by 350 rooms across locations where Novascotia has its footprints. Novascotia has built a portfolio in locations including Chennai, Coimbatore, Hyderabad, Kochi and Trivandrum. OYO plans to expand these offerings to 12 cities by the end of 2018. These serviced apartments are located in the heart of business hubs equipped with spacious rooms, upscale interiors, meals, gym and dining area to cater all the requirements of business travellers.  

OYO has launched OYO Townhouse in Hyderabad. This is the first launch of OYO Townhouse – a brand-new category of “friendly neighbourhood hotel” – outside Delhi-NCR. This will be the 5th hotel in the Townhouse portfolio since it was launched in January this year. After Jubilee Hills, the company plans to introduce OYO Townhouse hotels at other popular locations in the city such as Banjara Hills, Hitech City, Gachibowli and Panjagutta. The rooms will be priced at INR 2,500 and upwards. Ritesh Agarwal, Founder & CEO – OYO, said “This is our first Townhouse offering outside Delhi NCR and we are excited to choose Hyderabad for our debut outside home turf. Hyderabad has transformed into a cosmopolitan city representing a millennial outlook towards experiences and expectations. OYO Townhouse’s efficient hospitality and multi-utility concept fits perfectly into this millennial lifestyle. It delivers a seamless experience through a format that operates as 25% hotel, 25% home, 25% cafe and 25% merchandise store in one place, providing a perfect complement to our guests’ lifestyle. OYO Townhouse represents our ongoing commitment to innovate and create world-class hotel experiences from India.” Elaborating on the philosophy behind Townhouse, Ritesh added, “Townhouse will deliver an all-encompassing experience to guests. We are excited to showcase and deliver this proposition in Hyderabad today. We are confident that our guests will love the experience of these tastefully done hotels staffed with Managers trained to deliver authentic and unique Townhouse service.” The hospitality industry in India suffers from a major disconnect between demand and supply of quality living space, forcing travellers and city-dwellers to compromise on decision variables of location, comfort and pricing. OYO Townhouse addresses this gap by creating a …

OYO has come up with another offering and has launched OYO Townhouse, positioned as a friendly neighbourhood hotel. The new category will operate under the OYO Townhouse brand and aims for a footprint of 250 properties with 10,000+ rooms across 12 cities in India by end of 2017. OYO Townhouse offers a combination of a hotel, home, merchandise store and lounge and is targeted at Millennials, for whom price, convenience and a differentiated experience play an important role in determining choices. Ritesh Agarwal, Founder & CEO, OYO, said, “OYO Townhouse represents our ongoing commitment to continue innovating and creating world-class hotel experiences from India. Townhouse will operate as a hotel, community hotspot, cafe and merchandise store – to deliver an all-encompassing experience to guests. This launch marks a milestone in our journey towards the next level of Hospitality, consolidating our position as a category innovator and leader.”

OYO has launched early check-in up to 7 days prior to booking. This facility is being offered free of cost in many OYOs, and at a nominal charge in others. With this launch, OYO claims to be the first hotel brand in the world to offer guaranteed early check-in to guests. OYO’s Sunrise check-in is now live both on its website and mobile App. Customers can easily identify, select and book hotels that offer confirmed early check-in. In addition, guests can also modify their existing booking and secure an early check-in. Speaking on launch, Ritesh Agarwal, Founder & CEO, OYO, said, “Despite changes in the way we live, travel and work, the hotel industry across the world continues to follow the outdated concept of a standard check-in time. Nowadays, travel is no longer about following prescribed itineraries. At OYO we understand our guests and build features tailored to their needs. With Sunrise check-in travellers can plan their mode of travel, duration and trip-itinerary in a better way, without being constrained by the check-in time.”