Oravel Stays (OYO Rooms)
INE561T01021
Hospitality
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Industry Analysis
The global short-stay accommodation market, including both room and non-room expenditures, is projected to reach a remarkable $1.9 trillion by 2030. Among the fastest-growing regions, India and Southeast Asia stand out, with India leading global expansion at an annual growth rate of approximately 13% from 2021 to 2025. This growth is driven by several factors, including a rapidly expanding middle class with higher disposable incomes, increased travel accessibility and affordability, a strong travel inclination among younger generations, and the influence of social media promoting travel as a lifestyle. Moreover, the emergence of new accommodation formats and innovative use cases is further diversifying the industry’s potential.(Source: Industry Research Report and Annual Report)
Overview of Oravel Stays (OYO Rooms)
Founded in 2013 by Ritesh Agarwal in Gurugram, OYO offers a distinctive technology platform that enables hotel owners and homeowners to transform unbranded and fragmented properties into branded, digitally-enabled hotels and homes, maximizing revenue potential. This platform provides customers with access to a broad selection of high-quality accommodations. Additionally, OYO offers customized packages and services for meetings, conferences, and events at venues managed by its Patrons.
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