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OYO Hotels & Homes
OYO parent PRISM-backed OYO Assets, on Wednesday, said it plans to acquire 12 hotels in the second half of this financial year to scale its portfolio of premium and mid-premium hospitality assets. OYO Assets, also known as Sunday PropTech, said that out of the 12 targeted acquisitions, seven hotels are in advanced stages of acquisition. "The portfolio of acquisition will be funded through a mix of debt and equity, leveraging the company's strong balance sheet and investor support from an InCred and Analah-led consortium, along with PRISM Life and its shareholders such as SoftBank," OYO said. Saurav Agarwal, Board Member, Sunday PropTech, said its focus is on properties in good locations with strong return potential. "The need for high-quality premium and mid-premium hotels, coupled with a growing interest in travel, has been increasing significantly, and we see compelling opportunities to deploy capital in this space," Agarwal added. Beyond its immediate expansion plans, OYO Asset
Travel-tech platform OYO's parent firm PRISM on Friday announced rejig in its leadership team with the elevation of Ankit Tandon as Chief Operating Officer of PRISM and CEO, Europe and Varun Jain being appointed as COO-Asia PRISM. Tandon is currently the CEO of OYO Vacation Homes, while Jain is presently the COO-India, PRISM. In his expanded role, Ankit will oversee business performance and operations for PRISM worldwide, including brands such as Belvilla, DanCenter, Sunday Hotels, and others, according to OYO. "He will also lead Europe, including the UK, which is primarily a hotels market, as well as the US, encompassing G6 Hospitality, the parent company of Motel 6 and Studio 6," OYO said, adding that he will also continue to lead PRISM's Vacation Homes business, including recent additions such as CheckMyGuest (France) and MadeComfy (Australia). Puneet Yadav, UK Country Head, will report to Ankit, while Sonal Sinha, CEO - G6 Hospitality, based in Dallas, will work closely with An
IPO-bound OYO's parent firm Prism is fast-tracking the growth of its premium hotel brand Sunday, with plans to add 40 new upscale properties, including 4-star and 5-star hotels, across India in the current financial year. As part of its expansion strategy, Sunday Hotels is focusing on a mix of metro markets and non-metro cities, while also targeting tourism hotspots, including wildlife sanctuaries and prominent religious destinations. Gujarat, Uttar Pradesh, and Rajasthan are set to drive Sunday Hotels' expansion in FY26, together contributing over 40 per cent of the brand's upcoming portfolio. "Sunday blends global hospitality expertise with localised operations and cutting-edge technology, creating a flexible and profitable model for both seasoned hotel owners and entrepreneurs across India," Aditya Sharma, Business Head, Sunday Hotels and Resorts, told PTI. The brand is in advanced discussions with leading hotel owners to bring Sunday Hotels to prime locations in Mumbai, Hyderab
IPO-bound OYO's parent entity, Oravel Stays, will now be called Prism to serve as the umbrella entity for all its businesses and bring together various brands of the global travel tech platform. In a letter to shareholders sent by OYO, accessed by PTI, Chairman of the Board and founder Ritesh Agarwal mentioned that Oravel Stays will launch Prism Life, in short Prism, as its new corporate identity. "Prism will serve as the umbrella for all our diverse businesses, helping us work more efficiently and clearly communicate who we are. It will tie together our different brands without losing what makes each one unique," Agarwal said in the letter. He further shared that the transition to Prism marks the establishment of a clearer and more future-ready corporate architecture, designed to align the company's expanding portfolio with its strategic vision. "Our OYO brand will continue to serve as the highly recognisable, consumer-facing identity for budget and midscale travel, a space it has
IPO-bound travel tech platform OYO's profit after tax (PAT) more than doubled to Rs 200 crore in the first quarter, on the back of robust revenue growth, Founder Ritesh Agarwal shared in an email to the top management on Friday. The email, accessed by PTI, also mentions that the company's revenue grew 47 per cent to Rs 2,019 crore in the April-June period, from Rs 1,371 crore in the year-ago period. The revenue growth was led by premiumisation of hotel inventory and better room utilisation, Agarwal said in a email. The gross booking value (GBV) reached Rs 7,227 crore in the first quarter of the current fiscal year, marking a significant 144 per cent increase year-on-year from Rs 2,966 crore a year earlier. OYO had recorded a profit after tax of Rs 87 crore in the corresponding quarter of the previous year. In a letter to shareholders, the company has sought approval to issue bonus shares in a 1:1 ratio, which will double its authorised share capital to Rs 24,31,13,59,300. It has
Global travel tech firm OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, eyeing a USD 7-8 billion valuation for its IPO, sources said. The company is expected to approach its board with the proposal next week, people familiar with the matter told PTI. When reached out, a company spokesperson said, "While we cannot comment on any timelines related to OYO's DRHP or IPO related plans, since it's a decision that will be guided by OYO's Board of Directors and will be solely at their discretion. For now, OYO continues to evaluate a range of strategic options to drive value for its stakeholders". According to sources, discussions with key banking partners have ramped up in recent weeks, with valuation guidance now pegged at USD 7-8 billion ( around Rs 70 per share), potentially in the range of 25-30 times the EBITDA. "The filing with regulators is being considered for November. Over the past few months, SoftBank has engaged with banks such as Axis, Citi, Goldman Sach
OYO-owned co-working firm Innov8 has sold 3 per cent stake in the company to investors at a valuation of Rs 1,000 crore to expand its business amid rising demand of flexible workspace, according to sources. Raymond Family Office has emerged as the lead investor, acquiring nearly 2 per cent share, they added. Global travel tech platform OYO Group declined to comment. In January this year, Innov8 had raised Rs 110 crore from investors, diluting 10 per cent of its equity to a clutch of high-profile investors including family offices of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia. Founded in 2015 by Ritesh Malik, Innov8 has more than 30 centres across 10 cities -- Delhi, Gurugram, Noida, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore. Innov8 has seen over 90 occupancies in its centres, driven by rising demand for flexible office spaces. It plans to reach 100 centres by end of this year. Innov8 has reported a profit after tax of Rs 62 crore for 2023
IPO-bound global travel tech platform OYO on Friday said it expects to raise booking revenue from company-serviced hotels to 44 per cent from 22 per cent by the end of current financial year, as part of its increasing focus on India and premium property expansion. OYO presently operates over 1,300 company-serviced hotels in India, primarily featuring its mid to premium segment brands, including Townhouse, Townhouse Oak, Capital O, Palette, and SUNDAY. The share of company-serviced hotels in OYO's portfolio is also set to double, expanding their presence from 124 cities to over 300 cities across India, the company said. OYO introduced company-serviced hotels in FY23, initially contributing less than 2 per cent of its booking revenue. Since then, the rapid expansion of this segment has made it OYO's fastest-growing business globally. OYO is currently focusing its company-serviced model expansion in leisure cities, pilgrimage destinations and business corridors, where demand remains .
OYO Founder Ritesh Agarwal has invited name suggestions for its parent firm Oravel Stays, in a strategic move as the global travel tech platform prepares to launch its IPO and looks to have more premium segment offerings. There is a high possibility that the name chosen through the exercise may end up being the name of the premium hotels app that OYO has been working to launch in the near future, people familiar with the strategy told PTI. Agarwal took to social media platforms to seek name suggestions to help craft a "new identity". "We're renaming the corporate brand behind it all. Not the hotel chain, not a consumer product -- but the parent company powering a global ecosystem of urban innovation and modern living. We believe it's time the world had a new kind of global brand -- born in India, but built for the world," the OYO founder said in the post on Thursday. Agarwal shared that it should be a bold, one-word corporate name, global in feel, not tied to one culture or languag
Global travel-tech unicorn OYO has arranged for five investment banks to meet its key shareholder SoftBank in June, in a crucial presentation that could determine the company's path to public listing, sources said. The banks include Citi, Goldman Sachs and Jefferies from the global banking consortium, alongside ICICI Securities and Axis Capital representing Indian financial institutions. SoftBank, which remains one of OYO's largest shareholders, is interested in understanding the key positioning strategies, expected valuation metrics and anticipated investor appetite for the offering. The high-stake meeting is scheduled to take place at SoftBank's London office on Grosvenor Street, where the banks will present their IPO strategies to SoftBank's Sumer Juneja. OYO founder Ritesh Agarwal and his senior leadership team will also participate in the discussions, sources close to the development told PTI. The Japanese conglomerate's view is considered important for the IPO's timing, given
Global travel tech platform OYO has started discussions with bankers for a fresh attempt at IPO, targeting a listing in the last quarter of the current financial year, sources said. Preliminary discussions with investment banks have indicated a potential valuation range of USD 6-7 billion for the public offering. The company started informal discussions last month and is now calling for pitches, according to a person familiar with the development. "The company is engaging with both Indian and international banking institutions with plans to potentially file theHP documents between Aug-Sept this year. It is yet to decide whether to file with FY25 financial results or wait till the Q1 FY26 financials are audited and ready for filing," sources told PTI. A crucial round of discussions with the company's board and with its key shareholder, SoftBank's representatives, is scheduled for June in London. "The Board and all shareholders, including SoftBank, are keen for the company to active