Yes, It is true that OYO is an Indian company. The company is an Indian multinational travel and hospitality tech company with its headquarters at Gurugram, Haryana, India. It basically offers an online platform for a range of franchised and leased hotels, homes that are independent as well as living areas. OYO provides small-scale properties and hotels with cutting-edge technology solutions to manage, standardize and market accommodation.

OYO is a world-class player in the industry of hospitality and has a global collection of thousands of hotels and residences across India and around the world. It operates under a model of business with leasing, renting, and collaborations which include properties owned by independent owners. OYO provides a variety of options, including electronic check-in with dynamic pricing, operating tools, loyalty programs and more.

Company History

OYO was founded in 2012. It was founded by Ritesh Aggarwal. It was initially known as Otravel Stays, which served as a low-cost accommodation list and booking site. Otravel Stays was renamed to OYO in 2013. The following year, OYO Rooms was launched with the first OYO Rooms property located in Gurugram. The company offered standard amenities such as toiletries that were branded along with clean and fresh linens as well as Wi-Fi.

In the year 2014. OYO has expanded its reach to more than 100 cities across India with greater than 10,000 guest rooms throughout the nation. In of 2015 OYO released its own mobile app and established standardised processes for its partner hotels. OYO expanded its reach beyond India by launching activities in Malaysia in the year 2016. The company surpassed 1 million check-ins during the year before.

In 2017 OYO was the first to launch Townhouse which is an economy-focused brand that covers places like cafes and coworking spaces. OYO was expanded in Nepal, China, UAE and Indonesia during the period 2017-18. In the year 2019 OYO further expanded its operations in the US, Europe and Middle East.

Current Status

The OYO network is currently comprised of 22700 hotels and 119,000 homes spread across the globe, with 91,300 listings active in greater than 35 different countries around the world. The main areas of the business are India, United States, Europe, Middle East and Southeast Asia. OYO has reached 100 million downloads on the Play Store.

Recent offerings offered by OYO include exclusive properties that have 4+ rating under Super OYO Pay at Hotel facility at over 400 US properties, and an expanded network of Sunday luxury hotels in India, UAE and Saudi Arabia.

Future Outlook

OYO is focusing on expanding its presence in the US and Europe specifically in event-driven and short-term rental travel. It is also looking to expand its presence into tourist destinations that are religious, such as Ayodhya and markets with high margins like UAE. OYO expects to expand investment in its mid-priced and premium segments such as Sunday, Super OYO as it makes the process of reducing its budget hotels.