Is OYO profitable in 2020?

NEW DELHI: Oravel Stays Limited, operator of hospitality brand Oyo Rooms which has a network of budget hotels, reported a 54% year-on-year decline in revenue for fiscal 2020-21 to ₹89 crore. The company reported a net loss of ₹241 crore during the fiscal, lower than ₹326 crore in FY20.

What is the revenue model of Oyo Rooms?

Customers pay a room reservation fee according to their services chosen. The room fee is charged with a few percentage margins of the hotels’ prices. For example, if a room is priced at Rs. 1,000 per night, Oyo makes only 10-20% commission from it, and that is their actual revenue.

How Ritesh Agarwal started Oyo?

Career. Agarwal started a budget accommodation portal, Oravel Stays, for booking budget hotels. It was accepted into the accelerator program by Venture Nursery in September 2012, and later was one of the winners of the 2013 Thiel Fellowship program, receiving a grant of $100,000.

Why is Oyo successful?

Since Ritesh used to travel a lot, amid his trips, he stayed in different hotels. This gave him a realization about the poor hospitality facilities he got at different places. This motivated him to create an accommodation system where people can get the best rooms, food, staff, and other services in a given budget.

What is the salary of Ritesh Agarwal?

According to the Draft Redding Herring Prospectus Oyo filed on Friday, the salary of the firm’s founder Ritesh Agarwal rose eightfold to Rs 1.62 crore in financial year 2020-21 from Rs 21.5 lakh the previous year.

Is there any age limit for Oyo rooms?

The primary guest must be at least 18 years of age to be able to check into the hotel. The usual standard check-in time is 12 noon. OYO tries to ensure that you can check-in any time after that till your reservation is valid. It is mandatory for all guests to present valid photo identification at the time of check-in.

How much stake does Ritesh Agarwal have?

Ritesh Agarwal. Agarwal has over 30 percent stake in the company. The company which was last valued at $9 billion is targeting a valuation of around $12-14 billion.

What went wrong with Oyo?

OYO also claims to have an annual retention as high as 99.5% across the chain in India & South Asia. Recently, a national level shooter was found dead in an OYO hotel reportedly due to electrocution. On the other hand, an employee in a Gurugram-based OYO hotel was also accused of raping a guest.

How do I start a business with Oyo Rooms?

Aspiring entrepreneurs are required to invest a sum of INR 1 crore-2 crore to launch an OYO Townhouse franchise, in addition to the working capital and investment reserves. As per the claims of the company, the franchise would receive an ROI of 40%, resulting in a shorter payback period.

Does Ritesh Agarwal know coding?

The truth is that the early days of Oravel and Oyo were built on a foundation of lies and Ritesh seems to have faked almost everything that stands as his founding pillars, from his education to funding rounds. He knows no coding and has faked almost every credential prior to his funding rounds.

Will Oyo shut down?

-backed budget hospitality chain permanently closed over 4,000 beds across locations in the previous 2-3 quarters and converted over 1,700 beds to Oyo Rooms, they said. A senior Oyo executive told ET on condition of anonymity that the company was realigning its businesses and had shut down loss-making properties.

What made Ritesh Agarwal successful?

The OYO success story: Ritesh Agarwal world’s youngest self made billionaire after Kylie Jenner. OYO rooms has been one of the most successful start-ups in India being the country’s largest budget hotel chain. Ritesh Agarwal gained enough success by understanding business needs and building something that people want.

At what age Ritesh Agarwal became billionaire?

At the age of 24, his wealth was estimated at $1.1 Bn (INR 7,800 Cr) in the Hurun Global Rich List 2020. Ritesh Agarwal is the second youngest billionaire after model and entrepreneur Kylie Jenner, who amassed $1.1 Bn at the age of 22. Being a college dropout, Agarwal is also the richest self-made Indian aged under 40.

What is the salary of Google CEO?

At Google, Pichai played an important role in several projects and earned a salary of more than $1 billion every year between 2015 and 2020. Pichai’s base salary is $2 million, but he also draws bonuses and stock grants that cover the majority of his income.

Can I take a girl to Oyo rooms?

No, there is no law that prohibits unmarried couples from staying together or checking-into a hotel.

Can police raid in Oyo rooms?

Experts say that under Indian law the police can arrest people for “indecent behaviour” in public spaces, but hotel rooms are private areas. “There is no law that forbids an unmarried couple from checking into a hotel together,” argues an article in the Mint website.

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