Care, cash, evolution: How OYO navigated Covid-19
OYO was hit hard by the pandemic last year. Founder Ritesh Agarwal, who is at the forefront of reimagining OYO for a post-pandemic future, explains how he has been crafting this strategy.
ritesh agarwal
July 2021
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Introspection key for any entrepreneur: OYO
In a virtual summit, several startup founders, including OYO founder Ritesh Agarwal, gathered to speak about challenges in these tough times, and ways to overcome them.
A host of troubles for OYO
Ritesh Agarwal had enough to contend with: conflict with partners, fallout of rapid expansion, and restructuring. Then came a pandemic, giving the OYO founder his most difficult battle yet.
OYO announces pay cuts in India
The SoftBank-backed company said it is, however, not considering job cuts in India at this time, despite significant economic pressures.
Covid-19: OYO offers free stay to medical staff in U.S.
In India, OYO said it has reached out to ministries and state governments to offer some of its properties for pay per use quarantine facilities at an affordable price.
OYO’s FY19 loss swells to $335 million
The hotel aggregator, however, marked a nearly five times jump in its revenue led by Indian and Chinese markets.
OYO elevates Aditya Ghosh to the board
Rohit Kapoor, CEO of new real estate businesses, to take over as head of India and South Asia.
The world is not enough for OYO
South Asia’s largest hotel chain is on an expansion spree as it diversifies and enters new markets.
Why Innov8 buy makes sense for OYO
According to a source, the payment process for the transaction, worth ₹180 crore to ₹200 crore, has been initiated.
OYO to invest ₹1,400 crore in India, South Asia
The company says it wants to focus on franchise building rather than chase short-term goals like profitability.
