Oyo News
Ritesh Agarwal’s ambitions for Oyo are still intact
Oyo’s acquisition of Motel 6 aims to enhance its US presence and profitability, positioning it for a potential public listing after past failures. But how long will it take for Ritesh Agarwal to return Oyo to its 2019 peak
3 min read27 Sep 2024OYO parent Oravel Stays to acquire Motel 6, Studio 6 from Blackstone paying $525 million in an all-cash deal
Oravel Stays, parent of OYO, will acquire G6 Hospitality, operator of Motel 6 and Studio 6, with the deal closing in Q4 2024. OYO aims to enhance these brands using its technology and distribution network, while maintaining their separate identities.
1 min read21 Sep 2024As travel rebounds, Oyo checks in its first full-year net profit
Founder Ritesh Agarwal said on X that the travel and hospitality company had recorded its eighth consecutive quarter of positive EBITDA in the three months ended March
2 min read30 May 2024Oyo withdraws draft IPO papers, to refile after refinancing $450 million loan
Oravel Stays prepaid a sizeable portion of its debt in November through a buyback process totalling ₹1,620 crore.
1 min read22 May 2024OYO CEO Ritesh Agarwal encourages young entrepreneurs: "Make Mistakes Often, But Learn From Them"
Ritesh Agarwal of OYO encourages young founders to embrace mistakes as part of the learning process, highlighting his willingness to mentor and support emerging entrepreneurs.
1 min read20 Mar 2024OYO’s Ritesh Agarwal anticipates continued profit growth after Q3FY24 success
OYO Founder & CEO Ritesh Agarwal anticipates a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience, and favourable market conditions.
1 min read9 Feb 2024OYO’s founder Ritesh Agarwal shares bullish outlook on holiday travel. THESE cities are almost 100% booked
OYO hotels in popular tourist destinations like Puducherry, Nainital, Goa, Mysore, Mussoorie, and Manali are nearing 100% occupancy for the weekend, indicating a strong revival in the travel and tourism sector after the pandemic slump.
1 min read31 Dec 2023OYO’s Ritesh Agarwal to set up 5 healthcare centres in Odisha by 2024
The centres will be operated by health-tech startup ’Last Mile Care’, which already runs 11 health centres across India.
1 min read14 Dec 2023Fitch revises outlook on OYO’s long-term issuer ratings to ’positive’ from ’stable’
Fitch Ratings has revised the outlook on OYO’s long-term foreign- and local-currency Issuer Default Ratings to positive from stable, while affirming the ratings at ‘B-’
4 min read31 May 2023Startups more than double cash burn to $5 billion in FY22
Food and grocery delivery companies as well as fintech and edtech startups burnt the most cash, according to a VCCircle study.
2 min read10 Apr 2023Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared