There’s no way that you have been traveling and you don’t look out for OYO! OYO has become very popular in the recent days for its incredible utility to provide you shelter anywhere and everywhere.
OYO Rooms is a website for booking budget lodging. OYO has become so popular that it will soon be becoming one of the world’s biggest hotel chains. Ritesh Agarwal, the CEO of OYO is the person behind the OYO’s popularity, business success, and financial prosperity.
But what made him what he is today? Here are 6 interesting facts about Ritesh Agarwal that proves why he is an inspiration for millions of youth today:
1. Not so confident about his studies
Ritesh, as a child was under-confident about his studies and doubted his capabilities to prosper as a student in college. So he always had something else planned to thrive in life. He knew his family would hate him for his bad results in college, so he decided to do what excites him.
2. Failed six times
Ritesh acquired the Zo Rooms once, one of their main competitors in India, which is again a budget room network with over 45000 rooms. Now, believe it or not, it took him 6 BIG falls before he could reach to OYO!
3. Belongs to a simple family
Ritesh was born in Southern Orissa in a family which used to run a small local shop. Only if Ritesh hadn’t chosen a different path, he would have been busy overseeing the shop rather than owning one of the world’s biggest hotel chain. He used to work with SMEs and tried to bring them sales. It was only in his second venture that the success showed up on his door.
4. Real Estate Business
Ritesh used to convince the VCs to fund his venture. He tried finding a solution to the hotel booking process and then he realized something like OYO had not been built before. Everyone interpreted his venture as a real estate business on the initial level.
5. OYO reaching its heights
The brand OYO was not as easy as it sounds. They had standardized 45,000 rooms spread across 160 cities, trying to maintain exclusive facilities in each one of them. Maintaining the 4* ratings on TripAdvisor and satisfying the customers on maximum deals was certainly a tough job which they could manage efficiently with a lot of efforts.
6. The favorable business scene in the International Market
OYO doesn’t have any international competitor who could take its position. Thus, when we talk about startup turning down, OYO is far away, because of the favorable economic condition in the international market
Ritesh Agarwal’s life journey and these facts can inspire anyone. His efforts and hard work behind OYO, has led OYO to what it is today. The youth of today can take great lessons from him. Ritesh’s belief “If you have not failed, you have not hardened yourself” makes him stand against the failures and is certainly one of the motivations to all the fledgling startups.