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<a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a> is going to lead the $250 million funding round of <a href="http://www.businessinsider.in/searchresult.cms?query=oyo+rooms&amp;sortorder=effectivedate">Oyo Rooms</a>, which will take the online hotel booking platform’s valuation to $850 million. ET reported the size of <keyword id="2550719" type="UNKNOWN" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword>’ latest <a href="http://www.businessinsider.in/searchresult.cms?query=funding&amp;sortorder=effectivedate">funding</a> round is half of the $500 million proposed by <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>. After the fresh round of funding, SoftBank will have 42% ownership. "Seeing what has played out at <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, many early investors are wary of SoftBank taking large ownerships in their portfolio companies. But Oyo hasn't been able to shore up capital from external investors, which is why they have opted for half of what was committed by SoftBank," a person privy to the transaction told ET on the condition of anonymity. The investment in Oyo will come through the newly launched $100-billion SoftBank Vision Fund, which is eyeing opportunities in technology ventures globally. A SoftBank spokesperson told ET, "We do not comment on portfolio companies and especially around fund-raising efforts. We are very happy with Oyo's progress in general and commend the team." Oyo may still be trying to get an external investor to come into this round, a source told ET. The hotel aggregation segment in India has gone through consolidation post a slug of capital coming into companies like Oyo and the Tiger Global-backed Zo Rooms, which shut down last year.

Oyo Rooms’ valuation to touch $850 million, this will be the size of its funding

<keyword id="2550719" type="UNKNOWN" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword> has laid out plans for its future and they look quite promising. The hotel aggregator, which trimmed losses from Rs 496 crore in last year to Rs 325 crore in 2016-17, is planning to double its inventory of 70,000 rooms to 1.5 lakh by the end of next year. OYO’s <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> said they will cater to business and leisure travel in India, which is growing and to meet the demand, OYO will add at least 15,000 rooms this year. The company's gross bookings run rate grew to Rs 2,563 crore annually. "We have been doubling our revenues year-on-year and within this year we will continue to grow our revenues by two-and-a-half times year-on-year. We will see more properties coming up in areas where occupancy rates are high,” Agarwal told ET. Also, OYO is enhancing customer experience and will be making bookings easier for customers. Moreover, every property will be given a unique number to distinguish it from neighbouring OYO properties and the signages are expected to display the address more clearly. Speaking about GST affecting OYO, Agarwal told ET, “We and most of our partners think the rates have been thought of very fairly. We have kept our prices similar to what it was before GST. I do not see the GST having very significant implications. The market continues to grow. The demand for business traffic is high. Leisure business demand is higher than ever.”

OYO has trimmed its losses and here’s how it plans to add more rooms, enhance customer experience

<keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">OYO Rooms</keyword>, a top name in budget hotels aggregator industry, has always made it a point to offer their customers the best options for making their experience comfortable. It has now decided to pilot a food technology venture as well as an on-demand housekeeping service. 
 The company plans to combine the kitchens of the hotels listed under its belt, and the food would be sold under the name of <keyword id="3137676" type="UNKNOWN" weightage="100" keywordseo="OYO-Cafe">OYO Cafe</keyword>. 
 "As in any food business, we noticed that our partner hotels' kitchen have excess inventory," Maninder Gulati, head of strategy and corporate development at <keyword id="2808667" type="UNKNOWN" weightage="100" keywordseo="OYO">OYO</keyword> told ET. "So, the idea is, if we can utilise that and use food tech platforms like Zomato or Swiggy to distribute that food then that's a revenue generation potential for our partner." 
 The company also plans to dabble into on-demand housekeeping services venture, with the name <keyword id="3138076" type="UNKNOWN" weightage="100" keywordseo="oyo-care">OYO Care</keyword>. "That is an on-demand cleaning service. Our area managers can facilitate cleanup for a room as and when a customer needs it," said Gulati. 
 In the past two years, the Gurgaon-based company has gained a lot of popularity, and has become a top name in the industry. In August, OYO raised $100 million in a round led by SoftBank, and since then, it has spread its assets to 30,000 rooms in 130 Indian cities and towns. Its competitors include <keyword id="2825269" type="UNKNOWN" weightage="100" keywordseo="Zo-Rooms">ZO Rooms</keyword>, <keyword id="2913812" type="UNKNOWN" weightage="100" keywordseo="Treebo-Hotels">Treebo Hotels</keyword>, <keyword id="2870818" type="UNKNOWN" weightage="100" keywordseo="FabHotels">Fabhotels</keyword>, <keyword id="2937565" type="UNKNOWN" weightage="100" keywordseo="Wudstay">Wudstay</keyword>, <keyword id="2882211" type="UNKNOWN" weightage="100" keywordseo="Zen-Rooms">Zen Rooms</keyword>, <keyword id="2902711" type="UNKNOWN" weightage="100" keywordseo="ZiP-Rooms">Zip Rooms</keyword>, <keyword id="3007241" type="UNKNOWN" weightage="100" keywordseo="Vista-Rooms">Vista Rooms</keyword> and <keyword id="3138078" type="UNKNOWN" weightage="100" keywordseo="RoomOnCall">RoomOnCall</keyword>. 
 
<a href="https://www.facebook.com/oyorooms/photos/a.1449401045295515.1073741825.1449392448629708/1681617255407225/?type=3&amp;theater">Image source</a>

OYO Rooms knows the way to the customer’s heart
is through his stomach!

<ul><li>Oyo has received an undisclosed amount of funding from <keyword id="719382" type="COMPANY" weightage="20" keywordseo="Airbnb">Airbnb</keyword> in a series E round. </li><li>The strategic investment will see both Oyo and Airbnb collaborate on various projects. </li><li><keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword> had also announced its home rental service in Japan on Monday.</li></ul>US-based home renting startup AirBnB has reportedly picked up a stake in Oyo Rooms. In a series E funding whose details are undisclosed, AirBnB has invested in the Indian hospitality unicorn. According to earlier <a href="https://www.businesstoday.in/current/corporate/airbnb-in-talks-to-invest-100-200-million-in-oyo-report/story/329283.html">reports</a>, AirBnB had been looking at investing anywhere between $100 million-$200 million in the Indian startup. “As the 6th largest hotel chain operator in the world, we at, OYO Hotels &amp; Homes, are committed to offering our guests and travelers around the world, great quality living spaces. We are happy to have Airbnb as our partner in this vision,” said Maninder Gulati, Global Chief Strategy Officer at OYO Hotels &amp; Homes. Gulati further said that Airbnb’s strong global footprints and access to local communities will open up new opportunities for OYO Hotels &amp; Homes to strengthen and grow while staying true to our core value proposition. According to sources, the funding development from Airbnb comes as a strategic <keyword id="7485728" type="UNKNOWN" weightage="20" keywordseo="Investment-in-OYO">investment in Oyo</keyword>. Both Oyo and Airbnb are looking at opportunities to collaborate on a range of projects, including making OYO accommodations available on the Airbnb platform. “India has approximately 410 million millennials, that’s more than the entire population of the US. This group increasingly makes up for the dominant segment of consumers and is looking for new and authentic travel experiences. We are working towards achieving 1 billion Airbnb users in the next 10 years and India will play an important role in helping us achieve that goal,” Nathan Blecharczyk, co-founder of Airbnb had told Business Insider on March 13. Oyo Rooms has been growing at a fast rate, expanding its business territories beyond India. Having successfully expanded in China and several South East Asian markets, on Monday, Oyo also announced that it’s expanding in Japan with Oyo Life – an apartment rental service. An official statement from the company said that the company has already received over 11,000+ pre-registrations and has touched an occupancy of over 114% at the time of launch itself. See Also: <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a> <a href="https://www.businessinsider.in/exclusive-airbnb-may-defer-its-ipo-plan/articleshow/68392360.cms">'We have not decided if we will go public in 2019': Airbnb cofounder hints at IPO timing</a>

Airbnb picks up a stake in its Indian rival Oyo Rooms

Japan’s <keyword id="280185" type="COMPANY" weightage="80" keywordseo="Softbank-Corp">SoftBank Corp</keyword> is planning to pick up 25-30% stakes in <keyword id="2550719" type="UNKNOWN" weightage="80" keywordseo="OYO-Rooms">Oyo Rooms</keyword>, which has emerged as the largest player in the fast growing online hotel booking space. 
 
Japan's telecoms and internet giant SoftBank has also held talks with Oyo Rooms for leading a massive $100 million or Rs 630 crore financing round in the company, people familiar with the matter told Times of India. 
 
If everything goes well, this would be the third institutional fund-raise for Oyo Rooms, which was founded by Ritesh Agarwal, a college dropout, as Oravel Stays three years ago. 
 
Softbank is an existing investor in e-tailer Snapdeal, taxi-hailing service Ola and realty portal Housing. 
 
People familiar with the matter, on the condition of anonymity, said Softbank is said to have put in a term sheet, a non-binding agreement between the company and the investor, but the final terms of the funding are yet to be closed. 
 
Sources told TOI that Tiger Global, one of the most aggressive and prolific backers of India's consumer internet story, had also discussed a potential investment in the Oyo Rooms but may have pulled out of the talks. 
 
When contacted by TOI, a Softbank Corp spokesperson in Tokyo said over an email, "We are not able to comment on this." 
 
Meanwhile, CEO of Oyo Rooms also did not offer any comments regarding the matter. 
 
Oyo is present across 15 cities with 4000 budget hotel rooms on its platform. Starting at moderate charges of Rs 999 per night, hotel owners that partner with Oyo see a significant spike in occupancy levels, the aggregator claims. 
 
In March, Oyo had raised $25 million from Greenoaks Capital, an investor in e-Commerce major Flipkart, with existing investors Sequoia Capital and Lightspeed Venture Partners also participating valuing it at $100 million. 
 
"We are seeing for the first time that technology is touching the lower income section so the Indian market will see lots of products and interests in these segments going forward," Rehan Yar Khan, general partner at Mumbai-based early-stage venture fund Orios Ventures told TOI. 
 
Founder of Oyo Rooms, Agarwal, who was chosen for the prestigious Peter Thiel Fellowship aims for Oyo to become the largest technology-enabled network of hotels in the world. 
 
He is also looking to expand its network to 1000 hotels in 25 cities by this year end.

SoftBank says ‘moshi moshi’ to Oyo Rooms

Hotel aggregator <a href="http://www.businessinsider.in/searchresult.cms?query=Oyo+Rooms&amp;sortorder=effectivedate">Oyo Rooms</a> is in talks with <a href="http://www.businessinsider.in/searchresult.cms?query=SoftBank&amp;sortorder=effectivedate">SoftBank</a> to raise about $300-500 million in what could be the biggest financing in <a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">startups</a> since November 2015. A successful fund raise may value <keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">Oyo Rooms</keyword> at $1.2 billion and propel it into the unicorn club where <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> are present. 
 Existing and new investors may take part in the fundraising round, where <keyword id="2808667" type="UNKNOWN" weightage="100" keywordseo="OYO">Oyo</keyword> is getting a pre-money valuation of $700-750 million, an official with knowledge of the developments told ET. 
 The funding from the Masayoshi Son-led company will come through <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> Vision Fund — $100 billion fund which has investments from Saudi Arabia’s sovereign wealth fund and Apple. 
 The funding will help Oyo further expand its network of 7,000 <keyword id="6368036" type="PERSON" weightage="100" keywordseo="Hotels">hotels</keyword> and 70,000 rooms in 200 Indian cities. Key to expansion plans will be its new initiative called Townhouse, which targets the mid-premium segment as compared budget segment for Oyo Rooms. The startup is taking properties on lease in order to control customer experience in Townhouse Properties, four of which have already opened in Delhi and Gurgaon area. 
 
According to a source, Oyo is looking forward to introduce 200-250 Townhouse properties across the country by end of the year. The company has also started international expansion, first with Malaysia and will expand to other geographies. 
 
The large capital infusion will give Oyo Rooms the muscle to compete with rivals like the Makemytrip-Ibibo combine as well as counter newer threats from overseas players like Priceline-owned Bookings.com, said investors tracking the space.

Oyo Rooms likely to raise up to $500 million funds from SoftBank

<ul><li>After being valued at between $850-$900 million at the end of last year, <keyword id="2550719" type="COMPANY" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword>, is now worth five times more than that courtesy a $1 billion funding round led by <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword>’s Vision Fund. </li><li>Infact, with its latest valuation of a little under $5 billion, the Gurugram-based company is now the most valuable hotel chain in South Asia. </li><li>OYO’s founder, 24-year old Ritesh Agarwal, will use the funds to continue the hotel operator’s overseas expansion as well as making further inroads in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. </li></ul>After being valued at between $850-$900 million at the end of last year, OYO Rooms, which was founded in May 2013 by 24-year old Ritesh Agarwal, is now worth five times more than that courtesy a $1 billion funding round led by Softbank’s Vision Fund. Infact, with its latest valuation of a little under $5 billion, the Gurugram-based company is now the most valuable hotel chain in South Asia, easily leapfrogging the Taj and Oberoi chains, which are valued at around $2 billion and $1.2 billion, respectively. It is also the country’s second-most valuable startup after Paytm. Flipkart has been ruled out of consideration following its acquisition by Walmart. Solid growth While it’s latest funding round could be an indication of the valuation bubble that India’s startup ecosystem finds itself in, the company has recorded a commendable level of growth since its founding. It currently offers nearly 211,000 rooms in 350 cities in five countries. It has about 8,500 hotels across 230 cities India with around 87,000 rooms in 171 cities in <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword>. This marks an impressive turnaround for a company that was struggling with vacancies and complaints of poor customer service just a few years ago. This caused it to shift gears from the AirBnb model of connecting customers with hotel operators to a franchising model. Through its Townhouse brand, which was launched in early 2017, OYO Rooms focused on offering budget hotel experiences to customers in properties that were fully operated by the company employees. Hence, it got full control of its inventory of rooms in order to improve the customer experience. Under the latest funding round, OYO will receive around $800 million upfront with an additional commitment of $200 million. Softbank was joined by OYO’s existing investors Sequoia Capital and Lightspeed Ventures in the latest round. What will OYO use the money for? The investment will help OYO Rooms accelerate its overseas expansion. It has been expanding its operations outside India into China as well as Southeast Asian countries like Indonesia, Thailand and Malaysia and also it has its sights set on Europe and West Asian markets like the UAE. Earlier this month, Agarwal told Reuters that he planned to invest $5 million to launch <a href="https://uk.reuters.com/article/uk-britain-hotels-oyo/indias-largest-hotel-chain-oyo-to-expand-into-britain-idUKKCN1LZ1FX">in 10 cities in the UK</a> by 2020. OYO plans to offer 5,000 hotel rooms by then, backed by a staff of 100 people. The company is set to open its first two properties in London next month. However, the bulk of OYO’s financial resources will be focused on its two main markets - India and China. Agarwal reportedly plans to invest an additional $600 million in gaining further ground in China, especially in Tier-4 and Tier-5 towns.

OYO Rooms is the most valuable “hotel chain” in South Asia after Softbank investment

Budget hotel aggregator <keyword id="2550719" type="UNKNOWN" weightage="100" keywordseo="OYO-Rooms">OYO Rooms</keyword> <a href="http://www.businessinsider.in/Oyo-Rooms-may-buy-its-smaller-rival-Zo-Rooms/articleshow/50024196.cms">was all set to acquire rival Zo rooms</a>, but certain complications could cause a delay in the deal. One of its early investors has come up with some fresh demands, which has stalled the acquisition process. 
 As per sources, <keyword id="1679438" type="UNKNOWN" weightage="100" keywordseo="VentureNursery">VentureNursery</keyword>, a Mumbai-based accelerator which was the first investor in OYO, has said that it should be given access to information that large investors typically receive from a company along with the right to exit from the combined entity and that too at a pre-determined valuation. 
 
Also read: Exclusive: <a href="http://www.businessinsider.in/Exclusive-OYO-Rooms-CEO-says-soon-staying-at-OYO-hotels-will-be-like-staying-at-luxurious-homes-Easy-walk-in-easy-walk-out/articleshow/49416395.cms">OYO Rooms’ CEO says soon staying at OYO hotels will be like staying at luxurious homes! Easy walk-in, easy walk-out</a> 
 
"VentureNursery is demanding right to information and exit at $700-million valuation, both terms which are unacceptable to OYO's larger shareholders," a person directly familiar with the development told ET. 
 
Experts and investors opine that even though VentureNursery does not have enough shares to block the proposed merger, its demands should be addressed as it can otherwise create hurdles in the works for <a href="http://www.businessinsider.in/OYO-Rooms-knows-the-way-to-the-customers-heartis-through-his-stomach/articleshow/49800486.cms">OYO</a>, which is looking to raise <a href="http://www.businessinsider.in/OYO-Rooms-ties-up-with-PayPal-to-make-its-global-expansion-more-efficient/articleshow/51312289.cms">fresh capital</a>. 
 The reason behind these sudden demands could be the disagreement within OYO, as some managers are not convinced about the terms of <keyword id="2825269" type="UNKNOWN" weightage="100" keywordseo="Zo-Rooms">Zo Rooms</keyword> negotiation, giving it a 7% stake in the company.

OYO's Zo acquisition could be delayed because of its first investor

<ul><li>OYO has launched a partner network for its 8,700+ asset owners. </li><li>OYO is the 6th largest hotel chain in the world currently.</li><li>In India, over 15 cities have 200 <keyword id="4964826" type="PERSON" weightage="20" keywordseo="OYO-hotels">OYO hotels</keyword> per city. </li></ul>OYO is beefing up technology platform and is now looking to build a partner network of hotel owners, much like the big technology giants like Microsoft, HP, Amazon, who have a network of distributors, vendors and retail partners. The move seems to be targeted at extending the company’s reach and brand to a wider and deeper audience on the hotel owner side. OYO, which hasn’t yet celebrated its 5th anniversary, has been growing fast and taking on big hotel chains like Hyatt, Choice hotels among others. Now, in a bid to grow to the world’s largest hotel chain (it currently ranks sixth), OYO has turned its focus to hotel owner or asset partners, promising them several new services. OYO which already has an app for travellers for bookings, had a parallel app for hotel owners to manage the same and also their business transactions. OYO has now upgraded the app (called Co-OYO) to offer hotel owners financing help through its network of Indian banks, marketing support to boost their reach, help in compliance with regulations through access to top law and accounting firms and timely payments by assuring an interest of 18% on delayed payments. The hotel chain has also included technological solutions like OYO OS, a property management system. These new services will be available to over 8,700 hotel owners in OYO’s current network. At the launch of the network called OPEN - OYO Partner Engagement Network, <keyword id="229263" type="PERSON" weightage="20" keywordseo="Aditya-Ghosh">Aditya Ghosh</keyword>, CEO, India &amp; South Asia, OYO hotels, spoke about the company’s plans to expand fast. “Today with the launch of OPEN, we are laying the foundations of a structured way of exchanging ideas, providing support and most importantly, building a relationship of trust on which we hope to build the next several decades to come. We are doing this in several ways but in this fast moving world, being in touch on a real-time basis is key and therefore for the very first time in the hospitality industry, we are proud to launch the Co-OYO app which will transparently provide business metrics,” said Aditya Ghosh, CEO, India &amp; South Asia, of OYO Hotels. OYO has 175,000+ rooms in India, whereas in China it has 322,000+ rooms and in the rest of the world put together, it is adding 60,000 rooms every month. In India, over 15 cities have 200 OYO hotels per city. “Some of the largest hotel chains in India which have been around for 100 years have 20,000 rooms, And OYO in 30 days added 60,000 new rooms. I have been asked this question are we growing too fast? I believe we are not growing fast enough,” said Ghosh. See Also: <a href="https://www.businessinsider.in/home-renting-giant-airbnb-invests-in-indian-unicorn-oyo-rooms/articleshow/68670636.cms">Airbnb picks up a stake in its Indian rival Oyo Rooms</a> <a href="https://www.businessinsider.in/oyo-partners-with-softbank-to-launch-oyo-hotels-japan/articleshow/68719436.cms">OYO partners with Softbank to create a joint venture for its Japan business</a>

OYO upgrades its app for hotel owners and offers financing, marketing support and timely payments

For OYO, “2015 has been an exciting year to say the least!” 
 “We are grateful that we had a terrific ride and we never imagined we will be where we are today...” a rather thrilled 22-year-old founder and CEO of <keyword id="2550719" type="UNKNOWN" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword>, <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, wrote in his official blog. 
 It indeed has been a great year for OYO, we feel. For a <keyword id="138263" type="UNKNOWN" weightage="20" keywordseo="startup">startup</keyword> company claiming to have expanded from just 3 cities in January last year to 165 cities, 4000+ properties and 40,000+ rooms now,<a href="http://www.businessinsider.in/Exclusive-OYO-Rooms-CEO-says-soon-staying-at-OYO-hotels-will-be-like-staying-at-luxurious-homes-Easy-walk-in-easy-walk-out/articleshow/49416395.cms"> Oyo Rooms has superseded expectations</a>. It sure has come a long way in a very short period of time. And so has its leader Ritesh, personally. 
 Defining what a new age entrepreneur is, he is now among the 45 Indians or Indian-origin people who have made it to <keyword id="6373044" type="CITY" weightage="20" keywordseo="Forbes">Forbes</keyword>' annual list of achievers under the age of 30. 
 
<a href="http://www.businessinsider.in/OYO-Rooms-knows-the-way-to-the-customers-heartis-through-his-stomach/articleshow/49800486.cms">With some great experiences and initiatives for the folks at OYO to relish from a successful 2015</a>, we are now expecting 2016 is likely to get the young minds at work here, chase even bigger milestones. Testimony to this is the fact that as the New Year sets in, the budget hotel aggregator has taken a major leap. It’s gone overseas! 
 
Yes, hear out an excited Ritesh himself: “A small team at OYO worked very hard last 3 months to launch OYO in the international market. And after a December of stealth testing, I am happy to announce that you can now officially check into an OYO in Kuala Lumpur. We are all very excited and as always with a city launch, you can see the visiting card photo!” 
 
With this significant move, this Indian startup has marked its entry into the international market. It now eyes “travel markets across the worlds that have the same characteristics as here in India - trust deficient, unorganized and love for travel.” With Malaysia already in its net, the plan now is to take OYO to all such markets this year. 
 
Meanwhile, reflecting what a good leader means, Ritesh credits his hard-working team for all the success OYO has been able to achieve since its inception. He says: “Each one of us, who joined OYO, has loved it as our own. It gives me immense happiness to see us working together day and night to take OYO to greater heights. We were just a team of 150 at the beginning of the year and now we are 2,300. Our family has grown bigger but, it’s still as close-knit as it always was."

It's official! With launch in Malaysia, OYO Rooms goes overseas; eyes unorganised international markets in 2016

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">Oyo</keyword> wants to have 1 million <keyword id="18966" type="ORGANIZATION" weightage="20" keywordseo="Hotel">hotel</keyword> rooms in the next one-and-a-half years. </li><li>The hospitality unicorn had recently appointed <keyword id="229263" type="PERSON" weightage="20" keywordseo="Aditya-Ghosh">Aditya Ghosh</keyword>, former <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> president, as its CEO of South Asia operations. </li><li>The company is focusing on international growth with plans to further enter into the European, Chinese, Malaysian and Indonesian markets. </li></ul>In 2013, a scrawny 20-year-old from Odisha set out to start a portal from where you could book hotel rooms online. Cut to 2019 and the 25-year-old <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> is the founder of India’s unicorn startup <keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword>. It also has Aditya Ghosh, the former president of Indigo Airlines, on board and together, they intend to make Oyo the biggest <keyword id="150849" type="ORGANIZATION" weightage="20" keywordseo="hotel-chain">hotel chain</keyword> in the world. Oyo Rooms is already the largest hotel chain in South Asia. “We will have one million rooms inventory into our fold in the near distant future. I think, it should happen in a year and a half,” Ghosh told the news agency PTI on January 15. Ghosh is the CEO, South Asia operations. A million rooms will be about double its existing network of 450,000. Over the years, Oyo has put up its red-and-white logo in almost every other budget hotel in the country and has gone from being just an aggregator for hotel bookings to owning properties including Oyo Townhouse (budget hotels) and Oyo Living (coliving rental spaces). While Oyo had marked its first international debut in 2018 with Dubai, it has been focusing more on China, Europe, Malaysia and Indonesia. Agarwal has brought in Ghosh to drive the fast developing South Asia operations. In fact, the company’s fast expansion into the Chinese market saw it become one of the top 10 hotel chains in China in just one year of operations. Oyo Rooms <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/oyo-manages-more-rooms-in-china-than-in-india/articleshow/66725906.cms">reportedly</a> manages more hotels in China than in India. Oyo also has its eyes in Japan, taking stock of the large number of people that’s going to visit the country for the <a href="https://www.dnaindia.com/business/report-oyo-hotels-eyes-biggest-hotel-chain-tag-to-double-global-footprint-2707996">2020 Olympics</a>. The hospitality startup had turned into a unicorn in<a href="https://inc42.com/buzz/oyo-appoints-top-level-execs-to-drive-international-growth/"> 2018</a> after it received a funding of $800 million at a valuation of $5 billion. It has found backing from top investors like Softbank Group, Sequoia Capital, Lightspeed India among others. It has the money, it has the drive, and it certainly has room to grow fast and large. See Also: <a href="https://www.businessinsider.in/oyo-rooms-is-the-most-valuable-hotel-chain-in-south-asia-after-softbank-investment/articleshow/65964564.cms">OYO Rooms is the most valuable “hotel chain” in South Asia after Softbank investment</a> <a href="https://www.businessinsider.in/this-24-year-old-dropped-out-of-college-won-funding-from-peter-thiel-then-raised-480-million-for-his-startup/articleshow/65910683.cms">This 24-year-old dropped out of college, won funding from Peter Thiel, then raised $480 million for his startup</a> <a href="https://www.businessinsider.in/this-24-year-old-dropped-out-of-college-won-funding-from-peter-thiel-then-raised-480-million-for-his-startup/articleshow/65910683.cms">This SoftBank-funded startup was founded by a 24-year-old to glam up budget hotels, and it's just launched in the UK</a>

You Searched For "OYO Rooms" and got 11 results

Oyo Rooms’ valuation to touch $850 million, this will be the size of its funding

BI India Bureau

OYO has trimmed its losses and here’s how it plans to add more rooms, enhance customer experience

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OYO Rooms knows the way to the customer’s heart is through his stomach!

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Airbnb picks up a stake in its Indian rival Oyo Rooms

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SoftBank says ‘moshi moshi’ to Oyo Rooms

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Oyo Rooms likely to raise up to $500 million funds from SoftBank

BI India Bureau

OYO Rooms is the most valuable “hotel chain” in South Asia after Softbank investment

Dilsher Dhillon

OYO's Zo acquisition could be delayed because of its first investor

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OYO upgrades its app for hotel owners and offers financing, marketing support and timely payments

Sanchita Dash

It's official! With launch in Malaysia, OYO Rooms goes overseas; eyes unorganised international markets in 2016

Anushree Singh

A 6-year-old Indian startup wants to be world’s biggest hotel chain

Sanchita Dash

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