Page 2 - Oyo

Oyo adds over 3,500 corporate clients in FY25, records 20% growth

With over 6,500 corporate clients and a 20 per cent YoY increase, Oyo sees strong growth in business travel, led by Mumbai and boosted by its Oravel Travel Solutions vertical

Oyo adds 3,500 new corporate clients in FY25, logs 20% annual growth

Global travel tech platform OYO on Friday said its business accelerator division added 3,500 new corporate clients in FY25, recording 20 per cent growth year-on-year. The growth in the company's corporate portfolio indicates a rebound in business travel in India post-Covid. OYO now has a network of over 6,500 corporate clients with this addition. Mumbai emerged as the top-performing market, adding over 700 new corporate clients in the past year, followed by Hyderabad with 400, and Pune with 350. Other major metro cities, including Chennai and Bengaluru, also played a key role in the surge in corporate accounts. OYO has also recorded a surge in long stays and event-based stays with the corporate clients. Manish Kashyap, Head, OYO Business Accelerator, said, "The growth has been driven not just by large corporations but also by a diverse mix of small and medium enterprises, traditional business houses, startups, travel management companies, and even film production houses." Accord

Delhi HC sets aside arbitral tribunal order entitling Zostel stake in OYO

The court allowed OYO's plea under Section 34 of the Arbitration Act, setting aside the 2021 tribunal ruling that Zostel could seek up to 7% stake in Oravel Stays

Oyo delays IPO to 2026 after SoftBank pushback, targets $7 bn valuation

Oyo and SoftBank did not immediately reply to a Reuters request for comment. India's blue-chip Nifty 50 is up about 3 per cent this year

OYO to enter F&B with in-house kitchens, QSR carts in serviced hotels

Global travel tech firm OYO on Thursday said it plans to enter the food and beverage business with in-house kitchens and Quick Service Restaurant (QSR) carts at its company-serviced hotels. The QSR initiative, under brand name 'Townhouse Cafe', will focus on the 'Townhouse by OYO' branded hotels. It will cover 1,500 company-serviced hotels during the first phase of the programme in FY2025-26. Besides, guests can order meals through online platforms, including the OYO app and website, as well as online travel agents, by selecting the "Kitchen Services" option. The kitchen setup would vary from a full-fledged commercial kitchen for an extensive menu or a pantry setup for essential food items, based on the individual hotel profile and back-end infrastructure. "The F&B initiative is a result of consistent consumer feedback that the hotels should provide in-room dining options as well. The programme is expected to increase customer satisfaction scores. "OYO is expecting F&B to ...

OYO expects 60% jump in Q4 revenue at Rs 2,100 crore: Ritesh Agarwal

Global travel tech platform OYO expects to register over 60 per cent year-on-year growth in revenue for the fourth quarter ending March at Rs 2,100 crore, Founder Ritesh Agarwal told the senior leadership on Monday. The OYO Founder and CEO informed the company's top leadership that the sharp jump in Q4 revenue highlights the company's ability to drive sustainable, profitable growth. "We are on track to register over 60 per cent year-on-year revenue growth in Q4 FY25, reaching over Rs 2,100 crore. This marks a significant milestone and highlights our ability to drive sustainable, profitable growth. A key contributor to this performance has been the successful integration of G6 Hospitality, adding Rs 275 crore to our revenue," Agarwal said in the email sent to OYO's senior leadership, seen by PTI. Even without G6, its revenue stands strong at Rs 1,886 crore, demonstrating robust organic growth of 42 per cent, Agarwal said. G6 Hospitality, acquired by OYO from Blackstone in 2024, is a

Oravel Stays plans global expansion with 100 new SUNDAY Hotels in FY26

Currently, there are 30 SUNDAY hotels, with Sunday Luxury Downtown Al Qudaybiyah in Manama, Bahrain being one of the recent additions to the brand's portfolio, it said

Oyo plans to expand 'SUNDAY Hotels' to 100 properties globally by FY26

With a focus on premiumization, OYO-parent Oravel Stays plans to ramp up the expansion of SUNDAY Hotels, eyeing 100 properties under the brand globally by the end of the next financial year. The SUNDAY Hotels have opened in 10 countries across the globe including India, the United Kingdom, Saudi Arabia, the United Arab Emirates, Bahrain, Indonesia, Malaysia, Thailand, Philippines, and Vietnam. SUNDAY Hotels, a premium brand of four-star and five-star hotels, was originally launched in May 2023 through a joint venture between the SoftBank Group and Oravel Stays. The initiative is part of Oravel's ongoing programme to spread its premium hotel footprint around the globe. The brand made its debut in India in Jaipur followed by expansions into key business and leisure hubs such as Vadodara, Chandigarh, and Gurugram. Currently, Oravel Stays operates thirteen SUNDAY Hotels across India. "There are 30 SUNDAY Collection hotels already open across 10 countries including India and the compa

Townhouse, Sunday brands bring 50% of Oyo's business: Ritesh Agarwal

He added that the reason for adding premium offerings to the company's suite of services was to improve its bottom line and stay relevant in the market

OYO elevates Sonal Sinha as CEO of newly-acquired G6 Hospitality

Global travel-tech unicorn OYO on Friday announced the appointment of Sonal Sinha as Chief Executive Officer of G6 Hospitality, the American motel firm it recently acquired from Blackstone Real Estate. The acquisition, which was completed in December last year, added 1,500 franchised hotels across the US and Canada to OYO's portfolio, significantly expanding its North American presence. According to OYO, the combined entity is projected to generate a gross booking value of approximately USD 3 billion, with G6 Hospitality, which operates the Motel 6 and Studio 6 brands, contributing USD 1.7 billion. The integration of G6's portfolio with OYO's existing operations is expected to create significant synergies and accelerate growth across international markets, the company stated. "Sonal has been instrumental in driving OYO's international business to new heights," said OYO Founder & Group CEO Ritesh Agarwal. "His deep understanding of our operations and proven track record of ...

Oyo speeds up IPO plans as Ritesh Agarwal's debt repayment date looms

Creditors, including Mizuho Financial Group Inc insist that founder Ritesh Agarwal pay off the dues for $383 million he borrowed

OYO estimates Rs 1,100 cr PAT, Rs 2K cr Ebitda for FY26: Ritesh Agarwal

Travel tech unicorn OYO estimates its profit after tax to touch Rs 1,100 crore in the next financial year 2025-26, according to projections shared by Founder Ritesh Agarwal with the company's leadership on Wednesday, sources said. The company expects EBITDA of Rs 2,000 crore for the same period, on the back of a strong top-line growth, buoyed by the recent Motel 6 acquisition. EBITDA (earnings before interest, taxes, depreciation, and amortization) is a financial metric that measures a company's profitability and cash flow. Motel 6 is projected to contribute an EBITDA of over Rs 630 crore in the coming financial year, which will be the first full year of its integration, according to sources. "This contribution is anticipated to push OYO's combined EBITDA to over Rs 2,000 crore in FY26," said a person aware of the financial projections. OYO recorded a Profit After Tax (PAT) of Rs 166 crore in the third quarter ended December, up nearly six times from Rs 25 crore in the year-ago ..

Oyo-owned European holiday home brand 'DanCenter' debuts in India

To begin with luxurious villas in Siolim, North Goa

OYO to invest $10 million in US-based G6 Hospitality's digital assets

Travel tech unicorn OYO on Tuesday announced its plans to invest USD 10 million to grow the digital assets of US-based G6 Hospitality, including its website and app. OYO recently acquired iconic American budget hotel chain Motel 6 and Studio 6 brands from Blackstone Real Estate for USD 525 million in an all-cash transaction, as it eyes expansion in the US. The company plans to accelerate G6 Hospitality's growth, targeting the addition of over 150 hotels in 2025 under the Motel 6 and Studio 6 brands. This expansion is expected to strengthen the brands' presence in key markets such as Texas, California, Georgia and Arizona. "The company plans to focus on growing the Motel 6 website and the My6 app. It aims to increase app installs by 4X before the summer season kicks in and will also use advanced digital targeting strategies, focusing on high-intent customers through direct partnerships with leading digital platforms like Google and Microsoft," OYO said in a statement. The investme

OYO Q3 results: PAT rises nearly 6 times to Rs 166 cr, revenue up 31%

Travel tech unicorn OYO recorded a profit after tax (PAT) of Rs 166 crore in the third quarter ended December, up nearly six times from Rs 25 crore in the year-ago period, sources said. The company's revenue in the third quarter rose to Rs 1,695 crore, growing almost 31 per cent from Rs 1,296 crore a year earlier, marking a turnaround from the flat topline growth seen in FY24. According to documents accessed by PTI, the company achieved an adjusted EBITDA of Rs 249 crore in the October-December period of FY25, registering a 22 per cent increase from Rs 205 crore a year ago. Notably, the gross booking value (GBV) reached Rs 3,341 crore, showing a 33 per cent growth from Rs 2,510 crore in Q3 FY24. These figures exclude G6 Hospitality's financials as the acquisition was effective in the third week of December. For the first nine months of FY25, OYO reported a PAT of Rs 457 crore, compared to a loss of Rs 111 crore in the same period last year, as per its provisional financials. A so

OYO to invest Rs 539.57 crore in UK to expand premium hotel portfolio

Travel tech unicorn OYO on Tuesday said it plans to invest 50 million pounds (Rs 539.57 crore) in the UK over the next three years, primarily to focus on expanding its premium hotel portfolio. The investment is expected to support 1,000 jobs over the next three years in the UK hospitality sector, OYO said in a statement. In a significant strategic shift, OYO is actively pursuing premiumization of its UK portfolio, by pivoting towards premium inventory acquisition, focusing on securing long-term leasehold and management contracts. The company is also in advanced stage talks with several large hotel chains and real estate companies for potential asset management transactions. "OYO's investment in premium hotels will not only strengthen our tourism infrastructure, but back our ambitious 'Showcase Britain' initiative, helping to boost economic growth as part of our Plan for Change," said the UK Minister for Investment Baroness Poppy Gustafsson OBE in the statement. Puneet Yadav, Count

OYO-owned flex space firm Innov8 raises Rs 110 cr at Rs 1,000 cr valuation

Funding will be used for acquisitions, technology and partnerships, says startup

OYO-owned Innov8 raises Rs 110 cr from investors to expand coworking biz

OYO-owned Innov8, which provides flexible office spaces, has raised Rs 110 crore from investors including family office of Gauri Khan, to expand business and future growth. Innov8 has successfully concluded Rs 110 crore primary funding round. It diluted 10 per cent to raise this fund, the company said. The issue was oversubscribed by 2.7 times. The fund was raised at a valuation of Rs 1,000 crore. The round was led by prominent family offices, including those of Mankind Pharma, Gauri Khan, Rupa Group and Jagruti Dalmia. Together, these investors accounted for 55 per cent of the total funds raised. Innov8 has recently announced plans to double its coworking centers in India to 100 in 2025. The capital raised will support strategic inorganic growth opportunities such as acquisitions, technology upgrades, partnerships, and expansion into niche segments. "The funds raised will empower Innov8 to accelerate our expansion plans, building on the strong growth and operating leverage we a

Ayodhya Ram Mandir attracted more domestic tourists than Agra in 2024

OYO said it will add over 150 hotels in Ayodhya, 100 in Varanasi and 50 each in Prayagraj, Haridwar, and Puri

Musk hosts Indian bizmen, says 'open to lowering India-US trade barriers'

Oyo, Flipkart and Aditya Birla Group leaders among entrepreneurs who met with Elon Musk and toured his SpaceX base