Ritesh Agarwal : Transforming travel for the wanderlust on a budget – Press Release

Into the life of a college dropout who went on to become a millionaire at the tender age of 22 by changing the dynamics of the hotel industry in India.


25
1 share, 25 points

Bengaluru, INDIA-11th August 2019.

Founder and CEO of OYO Rooms, the fastest growing network of hotels and lodging spaces in the country, Ritesh Agarwal is one of the most inspiring people for the youth. A college dropout at 17 with a vision to redefine the hotel industry in India, he has managed to grow a business of $400 million at the mere age of 22. If you happen to visit any historical monument in the country, for instance, Taj Mahal, you can be sure to easily find a budget-friendly, well-kept and beautifully furnished hotel room with courteous staff within the range of a few kilometers. 

Founder and CEO- OYO Rooms

Born to a business family in Orissa, he had a keen interest in software and computer technology since childhood. He was motivated to start OYO Rooms so that he could be in control of the TV remote, which wasn’t possible when he stayed with relatives when he was a child, he said in an interview. He grew up munching on the idea of coding and starting up something of his own and was severely inspired by Airbnb and entrepreneurship.

He later went on to join the University of London for the course of Indian Business School but quit it in three days to kickstart his new journey. Ritesh always felt that the so-called budget hotels in India were inefficient, unorganized and failed to even meet the basic needs of a budget traveler. Hence, he ventured out with Oravel Stays in 2012 to make the most out of this opportunity and managed to secure funding of 30 lakhs from Venture Nursery, an accelerator firm which brought together a bunch of investors to establish and nurture startups.

 

He also managed to reach among the top 10 winners and received a sum of $100,000 from Peter Thiel (the Co-Founder of PayPal and an early investor in Facebook) which inspired him to work even more rigorously for his dream. He relaunched Oravel as OYO Rooms in 2013 which means “On Your Own” – nothing but a simple idea to create India’s largest chain of efficient, organized and standardized budget rooms.

Ritesh was not only the one to dream big but also kept a vision to realize his dreams. His life is a perfect example of how young minds can aspire to make it big in life and turn their night dreams into sweet realities of the day.

 

The mastermind behind OYO Rooms-redefining tourism on a budget.

To connect with Mr. Ritesh Agarwal and know about his journey and experiences, visit Xpert.

  


Like it? Share with your friends!

25
1 share, 25 points

What's Your Reaction?

wtf wtf
0
wtf
love love
13
love
lol lol
0
lol
omg omg
0
omg

6 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format