He is the founder and CEO of OYO Rooms achieved the tag of billionaire in the age of 26 year. He is college dropout and 2nd self- made billionaire in world after Kylie Jenner. OYO is hotel chain business was founded in 2013 and expand its chains in major countries like U.K., Japan, China, U.S., and major European countries.
Facts About Ritesh Agarwal and his Company:
• OYO Stands for
OYO stands for “On Your Own”. It’s name was inspired by an american company name Airbnb where bnb is bed and breakfast. As the full form depicts that idea behind creating OYO is to do something on your own without taking any help and so he does.
• Thiel Fellowship
He is the first asian who recieve Thiel Fellowship on the basis of his Oravel idea. It’s very less known fact that thiel fellowship awards a $100,000 to the entrepreneurs under 20 years of age provided they skip college immediately and join business for 2 years. Isn’t this quite interesting that students going to be paid for not going to college…
• Publish his Guide
A complete guide to 100 engineering college. This book is released in 2011 after his college drop out to meet his daily ends. This is quite fascinating because a college drop out student publishing the guide for top 100 engineering colleges.
• 3 Click 5 Second Strategy
He created such mobile application in which 3 clicks and 5 seconds and room can be easily booked. He knows time is money and attention span of customer is quite low so
he uses technology and created the fastest app which will definitely help to grow his business exponentially.
• Training and skill institute
OYO recently opened 25 training and skill institute for the employees. Here, he personally select the team which guides other employees like how to behave with customers, how to do quality and clean work, how to manage certain tasks and if any of their employee didn’t treat customers well then, instead of firing they bring back their employee to their institute and train him until he learn to respect customer. This is the unique successful model adopted by OYO and created by owner only which brings enormous respect to Ritesh from customers as well as employees.This proves that Ritesh believes in ” Customer is a King”.
• Got praised by American President
Ritesh agarwal is the only startup founder who got praised by American President Donald Trump. This is quiet big achievement for a 25 year old guy recognized by the most powerful man in the world. It is also the most shocking fact that in last eight months of US, OYO managed to tie-up with hotel everyday.
• OYO’S Achievements
In India, OYO holds the largest hotel chain with more than 18,000 hotels, 2,70,000 OYO rooms.The most important fact is that if we add the number of rooms combine
of the remaining hotel chains of India then also it will nowhere to touch the records of OYO.
It is also holding the record for the world’s 2nd largest hotel chain with more than 45,000 hotels and 1.2 million rooms.
And the biggest fact is that OYO doesn’t own a single property they just either give Lease as a part of the hotel’s inventory or operate them as a franchise with hotel partners.