Oyo Rooms

OYO asks govt to probe FHRAI's 'illegally-run' executive committee

Claims committee's actions hurting small hotel owners; constant friction with organised players discouraging SMEs and entrepreneurs from moving ahead with the times and with technology

Vrindavan, Bengaluru among most booked Valentine's Day destinations: Report

Average duration of stays increases from last year; people willing to travel on weekdays: OYO

OYO saw over 450,000 bookings on New Year's eve: Founder Ritesh Agarwal

Travel tech firm OYO witnessed a record 4.5 lakh-plus bookings on New Year's eve, its highest bookings per hotel per day for India in the last 5 years, Founder and Group CEO Ritesh Agarwal said. In a series of tweets, Agarwal spoke about the "busiest day of the year" for the travel technology company and shared that OYO saw higher bookings in Varanasi as compared to Goa. "Over 450k-plus bookings were made on this New Year's Eve globally. This is 35 per cent more than last year. We are also seeing the highest bookings per hotel per day for India in the last 5 years," Agarwal informed. The year 2022 saw a major uptick in travel and tourism. Globally, leisure destinations have led the travel recovery curve, while in India, business and cultural travel have significantly contributed to the sector. "Bookings from Goa are rising by the hour. But guess the city that is overtaking Goa? Varanasi," Agarwal said in a tweet. He also shared information from OYO's annual travel trends index ...

Travel-tech firm OYO launches 'Super OYO' in more than 70 cities in India

Global travel technology company OYO has launched a programme to recognise hotels that provide the most consistent and high-quality customer experience

OYO announces launch of category for highly rated hotels in 70 cities

Best hotels ranked by customer experience, location, analysis of reviews: CEO Ritesh Agarwal

Surge in bookings, cost cutting fuel 8-fold surge in IPO-bound OYO's Ebitda

Spike in adjusted Ebitda primarily driven by a 23% QoQ rise in Gross Booking Value per hotel in Q2 to Rs 4,00,000; firm still ends with Rs 333 cr loss

Oyo Hotels reports net loss of Rs 333 cr in Q2; revenue increases 24%

The company reported a 24% increase in revenue during the first half of the year, to 29.05 billion rupees. It did not disclose a quarterly revenue figure

FHRAI writes to Sebi to stop OYO from launching IPO after CCI penalty

Federation of Hotel & Restaurant Associations of India on Tuesday said it has written to Sebi to stop OYO from launching its IPO in the wake of a penalty imposed by the Competition Commission of India on the hospitality and travel-tech firm for unfair business practices. OYO, however, said the Federation of Hotel & Restaurant Associations of India (FHRAI) is misrepresenting the CCI order and the letter to Securities and Exchange Board of India (Sebi) is to distract attention from the executive committee meeting of FHRAI being held as null and void by the NCLT, which has also ordered a court-monitored AGM of the hospitality industry body. In October this year, the Competition Commission of India (CCI) slapped penalties totalling more than Rs 392 crore on online travel firms MakeMyTrip, Goibibo, and hospitality services provider OYO for indulging in unfair business practices. "Now that OYO has been found guilty of indulging in anti-competitive and unfair business practices ...

OYO elevates two senior execs in service experience and revenue functions

The firm recently had also revamped its flagship patron-facing app, CO-OYO, allowing users to now run their own promotional offers ahead of the peak festive travel season this year

Oyo files fresh docs with Sebi for IPO in early 2023 as growth resumes

Oyo, formally known as Oravel Stays Ltd., is internally working toward a January IPO as executives are encouraged by a pick-up in demand

OYO to bring onboard 600 new hotels, homes in South India by year-end

Buoyed by the strong booking trends in the business as well as liesure travel segments, OYO is looking to significantly increase hotels and homes (storefronts) in South India on its platform

Facing unfair competition from global tech giants, says domestic players

Top executives of 8 domestic tech firms, including Paytm founder Vijay Shekhar Sharma and OYO's Ritesh Agarwal, deposed before a parl panel and said they face unfair competition from big tech firms

Goa, Nainital in top summer holiday destinations in 2022, says OYO survey

Goa, Nainital, Rishikesh, Gangtok and Mount Abu emerged as the top five favoured family summer holiday destinations for Indians this year, according to a survey by OYO.

OYO plans IPO after September, may settle for lower valuation: Report

OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market

Top headlines: Govt may restrict sugar exports; Snap shares fall 30%

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OYO delists hotel from platform for denying reservation to Kashmir man

Hospitality firm OYO has taken off from its platform the hotel, which allegedly denied reservation to a man from Jammu and Kashmir, according to a social media post by the company. Responding to a purported viral video on social media that shows a man allegedly being denied reservation in the hotel as he is from the union territory, OYO said, "We are appalled that this happened. We have taken the hotel off from our platform immediately." The company further said, "Our rooms and our hearts are open for everyone, always. This is not something that we will compromise on, ever. We will definitely check what compelled the hotel to deny check-in." On Wednesday, the Delhi Police clarified that it has not issued any direction against giving reservation in hotels to those furnishing identity cards from Jammu and Kashmir. In a series of tweets, the Delhi Police stated, "a purported video is viral on social media wherein a person is being denied hotel reservation due to his J&K ID. The ...

Top Headlines: Oyo rejigs top brass; immediate fuel price hike unlikely

IPO-bound Oyo on Thursday announced a major rejig in top management and appointed a new CEO of its India business

IPO-bound OYO gets in-principle listing approval from BSE, NSE

Oravel Stays Limited, the parent company of travel-tech firm OYO, has received in-principle approval from BSE and NSE to list on the respective bourses, sources said. OYO has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO). The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore. As per documents reviewed by PTI, the company recently received the go-ahead for listing from the National Stock Exchange and BSE. Bourses typically provides such go ahead at advanced stages of the approval process thus signaling that regulatory path is close to getting cleared for the company to approach for its listing. The company had filed its Draft Red Herring Prospectus (DRHP) with Securities & Exchange Board of India (SEBI) in September last year and has been in the process of responding to the questions and clarifications sought by the regulators. Sources told PTI that the SEBI observations are .

OYO appoints ex-Apple executive Nirdosh Chouhan as senior vice president

Oyo said it has appointed ex-Apple executive Nirdosh Chouhan as Senior Vice President of Engineering and former Swiggy official Kranthi Mitra Adusumilli as Senior Principal Data Scientist.

IPO-bound OYO defies pandemic, set to meet investors' expectations

IPO-bound Oravel Stays Ltd, or OYO, amid pandemic revamped its operations and business strategies to not only stay afloat but also emerge stronger.