Oyo Rental Price Prediction In China

About OYO china 💯

Some facts about Oyo.

• Ritesh Agarwal made OYO, China’s largest hotel chain and he did so by operating OYO as a Chinese company.
• Agarwal picked up Mandarin – which is called as one of the world’s toughest languages within a few months.
• OYO is present in over 337 cities and has 500,000 rooms in China. In FY19, OYO China contributed to $307 million or 32.3% of OYO’s global revenue.

OYO Rooms (stylised as OYO), also known as OYO Hotels & Homes, is an Indian multinational hospitality chain of leased and franchised hotels, homes and living spaces. Founded in 2012 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels.

History

In 2012, Ritesh Agarwal launched Oravel Stays to enable listing and booking of budget accommodations; he renamed the firm to OYO in 2013. OYO partnered with hotels to give similar guest experience across cities. Shortly after launching Oravel Stays, Ritesh Agarwal received a grant of $100,000 as part of the Thiel Fellowship, a two-year program from PayPal co-founder Peter Thiel.

In 2019, OYO had over 17,000 employees globally, of which approximately 8000 are in India and South Asia. OYO Hotels & Homes is a full-fledged hotel chain that leases and franchises assets. The company invests in capex, hires general managers to oversee operations and customer experience, and generates around a million job opportunities in India and South Asia alone. OYO set up 26 training institutes for hospitality enthusiasts across India in 2019.