OYO Rooms

The latest stake sale is set at a 60 per cent premium compared to the valuation during Oyo's August 2024 funding round, where prominent family offices invested

Unlike toy makers or sellers of detergent, service-based companies must deal with customers as people, but there's no point achieving scale at the cost of your brand's core appeal

Travel tech platform OYO achieved a profit after tax of Rs 158 crore in the second quarter of the current fiscal ended September, Founder Ritesh Agarwal told employees in a townhall on Thursday, sources said. Oravel Stays Ltd, the parent company of OYO, had posted a loss of Rs 50 crore in the same period of the previous year. During the first quarter, OYO's profit after tax stood at Rs 132 crore. This brings the company's H1 FY25 net profit to Rs 290 crore (USD 35 million), marking a turnaround from the Rs 91 crore net loss reported in the same period of the previous fiscal, the sources said. In Q2 FY25, OYO's revenue surged to Rs 1,578 crore, from Rs 1,413 crore in Q1. OYO recently announced its acquisition of G6 Hospitality, a US-based economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone.

In the US, Agarwal said that Oyo is opening a new property every three days, reflecting very strong momentum in the world's largest economy

IPO-bound unicorn OYO reported its first-ever net profit at Rs 229 crore during the financial year ended March, as per its latest annual report. Ritesh Agarwal, OYO founder, acknowledged on X (formerly Twitter) on Wednesday that the numbers have exceeded his earlier estimate of Rs 100 crore for the 2023-24 fiscal year. "One big learning for me over the years is under-promise and over-deliver. Our audited results are published post-adoption by the board. The effort of OYOpreneurs has delivered Rs 229 crore net profit, exceeding my earlier estimate of Rs 100 crore," Agarwal tweeted. In a statement, OYO informed that the first-ever net profit comes on the back of eight consecutive quarters of positive Adjusted EBITDA. "OYO's Adjusted EBITDA grew by 215 per cent to reach nearly Rs 877 crore in FY24, up from about Rs 277 crore in FY23," the travel tech platform reported in its annual report. Aiming for global expansion, the company said it has acquired K&J Consulting, which operates ..

Besides Agarwal, key contributors in the funding round include InCred Wealth, J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings

Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round, sources said. The IPO-bound unicorn has raised nearly Rs 1,040 crore in the Series G funding round. This follows an earlier raise of Rs 416.85 crore in the same series and concludes the round. According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8. The capital will be used to support OYO's growth and its global expansion plans, sources said. The additional fund raise values the company at the same valuation of USD 2.4 billion, as the first Series G tranche issued to InCred in July, a source said. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The funding round includes contributions from InCred Wealth, who led the recent fundrai

IPO-bound unicorn OYO's parent firm Oravel Stays Ltd is set to appoint Sumer Juneja, Managing Partner and Head of EMEA & India Investing at SoftBank Vision Fund, as a non-executive director on its board, sources said. The appointment is subject to shareholders' approval to be sought at an Extraordinary General Meeting (EGM), according to information accessed by PTI. Sumer will join Oravel Stays' Board as a nominee director of Softbank. Sources, speaking on condition of anonymity, said the move signals SoftBank's bullish stance on OYO, in light of the company turning profitable. Travel tech platform OYO reported financial year 2023-24 as the maiden profitable fiscal year with net earnings of nearly Rs 100 crore, founder Ritesh Agarwal said in a post on microblogging site X, formerly Twitter, recently. "SoftBank is actively supporting OYO and showing renewed interest in its prospects. They want to provide impetus to the company's growth in international markets," said a person ...

Oyo almost doubled its profit after tax to Rs 30 cr in Q3FY24, compared to the previous quarter's Rs 16 crore

Last year, the company started a pilot by setting up 10 Palette resorts in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bengaluru

OYO Rooms assures minimum benchmarks, occupancy of hotels and in case such benchmark is exceeded, the service fee is payable by the hotel and in case of shortfall

The revised IPO draft, filed by Oyo in April 2023, was 40-60 per cent smaller than the original proposal

Hospitality and travel-tech firm OYO expects a consistent rise in its Profit After Tax (PAT) after doubling it sequentially in Q3 FY24 to Rs 30 crore, according to company Founder & CEO Ritesh Agarwal. Agarwal shared the update about the two-fold increase in the company's profit during an employee town hall on Friday. Oravel Stays Ltd, which operates travel tech brand OYO, had its maiden profitable quarter in Q2 FY24 with a PAT of Rs 16 crore. "In the upcoming quarters, we anticipate a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience , and favourable market conditions conducive to sustained growth," Agarwal told the employees. He also informed the staff that the company clocked adjusted EBITDA of Rs 750 crore in FY23 and expects to clock adjusted EBITDA of Rs 1,000 crore in FY24, surpassing its earlier projection of Rs 800 crore for FY24. When contacted, OYO spokesperson declined to comment. Last year OYO had prepaid Rs 1,620 crore debt .

Hospitality tech platform OYO on Tuesday said it has restarted self-operated hotels tagged as 'Managed by OYO' through the company's app and website and is seeking partnerships with real estate developers to identify properties for these hotels. "As part of the program, OYO will secure annual to long-term management contracts on the revenue share basis of 200 premium hotels across Indian metros and give its top hotel operators an opportunity to leverage their expertise in maintaining operational excellence and high customer satisfaction," the company said. OYO closed its self-operated hotel model in 2020, just before the start of the first wave of COVID-19, and is restarting after three years. During the pilot phase of the programme, OYO has partnered with 30 realtors and started operations in more than 35 hotels. These hotels are spread across key cities such as Delhi, Bengaluru, Hyderabad, Kolkata, Goa, Jaipur, Mumbai, Chennai, Pune, Pondicherry and Vadodara. These hotels will be

Global travel-tech player OYO is set to prepay a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback initiative involves the repurchase of 30 per cent of OYO's outstanding Term Loan B (TLB), as per an announcement by the IPO-bound company on the Bloomberg terminal. The repayment of this debt is scheduled for June 2026. The offer is being fully funded with cash on balance sheet and from cash collateral account. The move comes on the back of Ritesh Agarwal-led startup reporting its first-ever profit in the second quarter of 2023-24, with a Profit After Tax (PAT) of Rs 16 crore. A successful buyback of the full quantum on offer will mean a substantial reduction in OYO's interest outgo by Rs 225 crore per annum. The buyback is being done at par value through a public bidding process, which is open from November 14-18. If the bid exceeds the stipulated amount, then OYO will buy the loan back on a pro-rata basis. OYO's debt paper closed at 9

Hospitality technology firm OYO on Monday said it will add 750 hotels on its platform in the next three months in over 35 leisure markets to tap the festive and winter tourism season. Majority of the new hotels will be incorporated under OYO's premium brands such as Palette, Townhouse, Townhouse Oak, and Collection O, the company said in a statement. OYO said its key focus markets are Goa, Jaipur, Mussoorie, Rishikesh, Katra, Puri, Shimla, Nainital, Udaipur, and Mount Abu for the new hotels addition. "Our expansion in these leisure markets also aligns with our mission to provide quality accommodations and memorable experiences to travellers. The influx of new hotels will not only boost tourism, but also provide employment opportunities for local communities," OYO Chief Merchant Officer, Anuj Tejpal said. Citing a recent government report, OYO said the number of foreign tourists who arrived in India this year during January-June is 106 per cent more than the figure for the ...

Oravel Stays Ltd, which operates travel tech brand OYO, is set to report its first-ever profit after tax of over Rs 16 crore in the current quarter ending September, according to an email sent by OYO's founder and CEO Ritesh Agarwal to the company's top management on Tuesday, sources said. "This year marks the 10th year of OYO, making it momentous and special. I have news to share befitting this occasion. As per the current trajectory in this quarter, Q2 FY24 will mark our maiden profitable quarter with a projected profit after tax (PAT) of over Rs 16 crore," Agarwal said in an email to the company's leadership, seen by PTI. Talking about future growth prospects, Agarwal said: "We see immense potential in future growth markets like the US & UK where we are dedicated to instilling confidence in our patrons and utilizing innovative technologies, such as contactless check-in, to cater to their evolving needs of the customer." He also informed that as per the just-released annual ...

Hospitality technology platform OYO on Tuesday announced its foray into premium resorts and hotels category with the launch of its new brand -Palette with plans to have a total of 50 properties by second quarter of FY24. The company has started 10 Palette resorts as a pilot in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar and Bangalore. It will add 40 more Palette resorts to its portfolio by Q2 FY 2024, OYO said in a statement. "The expansion will encompass destinations like Delhi-NCR, Kolkata, Amritsar, Shimla, Goa, Udaipur, Pune, Mussoorie, Srinagar and Kochi," it added. On the reasons behind the expansion, OYO Chief Merchant Officer Anuj Tejpal said, "Today, travellers are seeking more than just a place to stay; they are craving unique and memorable experiences. This paradigm shift, fuelled by rising disposable incomes, has prompted us to diversify our portfolio and introduce the Palette brand." He further said the company has witnessed a very encouraging response for the .

Hospitality technology platform OYO on Wednesday said it will add over 1,000 hotels to support over 100 first-generation hoteliers by December 2023 as part of its accelerator programme. The company launched its accelerator programme in March this year with a target of supporting 50 first-generation hoteliers. OYO has already added more than 300 hotels operated by 30 hoteliers since the announcement of the plan which is higher than the initial target of adding 200 properties in the first phase of the programme, the company said in a statement. "Since the unveiling of our Accelerator Program, we have been actively engaging with our hotel partners to gather their insights, concerns, and suggestions," OYO Chief Merchant Officer Anuj Tejpal said. The company is also offering financial assistance to facilitate expansion in new markets. It has already extended support worth Rs 10 crore, it added. With the Indian hospitality sector showing signs of promising growth in the next few years,

Customers will get credit limit of up to Rs 5,000 which can be settled after 15 days of hotel stay