Ritesh Agarwal is synonymous with OYO Rooms, a company that has changed how people find and book affordable hotels globally. He is the founder and CEO of OYO Rooms and a billionaire entrepreneur. The company is India’s largest hotel network, with a revenue of Rs 5,388 crore in FY2024. He was born in a small town in Odisha, India and started OYO when he was just 19 years old. A simple idea drove Ritesh Agarwal to establish OYO Rooms: making it easier for everyone to find reliable, budget-friendly places to stay.
His journey from a curious young boy to a top entrepreneur in India shows how a great idea and hard work can completely transform an industry. In this article, we will look into the early life of Ritesh, and learn more about how he established OYO.
Ritesh was born in Bissam Cuttack, Odisha, and grew up in Titilagrah, where his family ran a small shop. This early exposure to business sparked his interest in entrepreneurship. After he finished school, he moved to Delhi for college but soon dropped out to pursue his dreams. At just sixteen, he was recognised for his talent by being selected for the Asian Science Camp in Mumbai.
He had faced many challenges on his journey. After dropping out of college, he sold SIM cards to make ends meet. Despite personal hardships, like losing his father shortly after getting married, Ritesh never gave up on his dreams.
In 2012, Ritesh started Oravel Stays to offer budget accommodations. His travels across India, and staying in over 100 guest houses and hotels, made him realise the need for affordable, high-quality hotels. With this insight, he transformed Oravel into OYO in 2013. Today, OYO is a major global brand in the hospitality industry.
OYO Rooms is an Indian hotel chain that has grown into one of the largest and fastest-growing hospitality companies. It started by focusing on budget hotels but soon expanded globally. Today, OYO operates thousands of hotels and vacation homes in many cities across India, Malaysia, Nepal, the UK, the UAE, Sri Lanka, and beyond.