Get All Access for $5/mo

How Technology is Benefiting this Startup With an aim to provide affordable yet standardised accommodation, the company was the first-of-its-kind to cause disruption in the space.

By Sugandh Bahl

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

Ritesh Agarwal's OYO Rooms have changed the way India's legacy driven hospitality industry functions. This industry suffers from a major disconnect between demand and supply of quality living space, forcing travellers to compromise on decision variables of location, comfort and pricing. With an aim to provide affordable yet standardised accommodation, the company was the first-of-its-kind to cause disruption in the space.

Backed by a strong operation team, OYO is setting a strong example of how technology can enable an exceptional experience for customers and also can be profitable. On one hand, it has simplified booking, payment, check-in and check-out processes. On the other hand, it has helped many branded budget hotels to pick up pace and its growth potential. He was hardly 18-years-old when college drop-out Agarwal launched his first travel startup, Oravel Stays, an Indian clone of US-based online lodging service Airbnb, but it lacked a concrete perspective.

In 2011, the same year when Oravel was conceived, he applied for Peter Thiel fellowship program that gives $100,000 to an under-22, college drop-out entrepreneur every year who has the potential to make it big. Post this, he visited several hotels across the globe to find loopholes which needed immediate attention. Agarwal found that the sector lacked standardisation globally and rehashed his first venture to OYO rooms. Data Sciences and analytics is integral for every decision making strategy in OYO's business, helping in identifying inherent nature of every guest who checks-in, and work towards making their experience much more personalised and seamless.

Also, on the supply product side, OYO offers an app to its hotel partners, enabling them to get a comprehensive view of their day to day operations including bookings, customer's details, customer feedback scores, revenue and expense management tools etc. All the afore-mentioned innovation/ technology has been conceptualized and developed in-house.

Agarwal said," 415 million Indians undertake a journey every year and none of them want to spend their days at a simple hotel with basic necessities." Therefore, Oyo has launched its Oyo Townhouse, a friendly neighbourhood hotel targeted at millennials. Currently, there are four Townhouses across the country.

(This article was first published in the May issue of Entrepreneur Magazine. To subscribe, click here)

Sugandh Bahl

Former Feature Writer, Entrepreneur India Magazine

Journalism has been in my roots since my school days. Beginning with a content specialist at CRY organisation to landing up being a Feature writer/correspondent at The Entrepreneur Magazine, life has experienced ups and downs fairly well. A foodie by nature and pet over at heart, currently I am thoroughly enjoying my tenure at The Entrepreneur!

News and Trends

Tech Burner's Anarc Smartwatch Achieves INR 3 Cr Sales with USD 1 Mn Investment

Anarc features a patented octagonal design by Thought Over Design and Seymourpowell, with a medical-grade stainless steel body. It includes advanced technology like a Hisilicon chipset, AMOLED display, and seven-day battery life.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Diversity

5 Ways You Can Create a More Inclusive Workplace Immediately -- and Why You Should

The more diversity you bring to your team, the greater your chances of finding groundbreaking insights and solutions.

Marketing

4 Neuromarketing Hacks to Reach More People and Maximize Results

You don't need to be a neuroscientist or have a big budget to start upping your conversions immediately.

News and Trends

Insurtech Player Zopper Raises $25M in Series D Funding

With 40 insurance companies and 2500+ ecosystem players, Zopper will utilize the fresh capital to ramp up digital infrastructure, by strengthening its Insurance Distribution platform

Business News

'Do You Sell Cars?': Tesla CEO Elon Musk Trolls Jaguar Rebrand on X

The team running Jaguar's X account was working hard on social media this week.