Anirudha Yerunkar
He is working as Chief Sub Editor with India.com and has experience in Digital Media and YouTube. He has covered Budget 2023, 2024, 2025 for reputed channels. Born and brought up in Mumbai, he is an e ... Read More
Ritesh Agarwal, the founder of OYO Rooms, credits the Mahakumbh in Prayagraj, Uttar Pradesh, as his inspiration for his business idea. During a recent visit to the sacred event with his son Aryan, Agarwal spoke about his first Mahakumbh experience over 20 years ago and shared how it inspired him to build one of the world’s largest hotel networks.
While recording a video during a boat ride with his son, Agarwal spoke about his deep connection with the Mahakumbh, he said, “when I came here last time, we stayed at a relative’s place, and I remember wishing we had booked a hotel instead. That moment planted the seed for my journey in the hospitality industry. Now, seeing so many people staying at OYO during this year’s Mahakumbh, I feel it’s all guided by divine intervention,” he shared.
Founded in 2013 when Ritesh Agarwal was just 24, OYO Rooms has grown into India’s largest hotel network and is backed by global investors like SoftBank. By 2020, Agarwal had earned recognition as one of the world’s youngest self-made billionaires. Later on OYO expanded its operations to the U.S., Europe, and China, where it has already surpassed the second-largest chain.
Born in Odisha’s Rayagada district, Ritesh’s father, Ramesh Agarwal, wanted his son to become an engineer, but Ritesh had different dreams. Moving to Delhi during his 10th grade to prepare for IIT-JEE, Ritesh started selling SIM cards to support himself financially.
After enrolling in engineering college, he made the bold decision to drop out and focus on entrepreneurship.
In 2012, at just 18, Agarwal launched his first venture, Oravel Stays, a budget accommodation portal. His innovative approach won him a Rs 30 lakh grant, and in 2013, he was selected for the prestigious Thiel Fellowship, which provided a $100,000 grant to young entrepreneurs. This milestone laid the foundation for OYO Rooms.
In May 2013, Ritesh Agarwal rebranded Oravel Stays into OYO Rooms, revolutionizing the hospitality industry. OYO’s mission was simple to provide affordable, standardized, and quality accommodations. By 2018, OYO had raised $1 billion in funding, expanded to 154 cities in India, and become the nation’s largest hotel network.
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