Ritesh Agarwal: From Small-Town Dreamer to Global Hotelier

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Ritesh Agarwal, the founder and CEO of OYO Rooms, has changed the face of the worldwide hospitality industry by democratizing budget accommodation. Agarwal was born in 1993 in Bissam Cuttack, Odisha, and at age 19, he founded OYO in 2013 by starting with a single guesthouse before becoming a hospitality unicorn in more than 80 countries. OYO has transformed the conventional hotel model, with a valuation of billions of dollars in 2019, linking millions of travelers to cheap, standardized hotels.

Agarwal’s entrepreneurial journey began with Oravel Stays, a budget lodging aggregator, which pivoted to OYO’s franchise model after he joined the Thiel Fellowship in 2013. His vision of scalable, tech-driven hospitality led to partnerships with over 43,000 hotels and 1 million rooms worldwide by 2023. His leadership has driven innovations like contactless check-ins and AI-based pricing, enhancing guest experiences.

Agarwal is an accomplished entrepreneur with several awards, including the TiE-Lumis Entrepreneurial Excellence Award, and is also a Forbes 30 Under 30 honoree and the youngest Indian on the Hurun Rich List (2020). His dedication was demonstrated in his personal investment of $1.1 billion in OYO in 2019 Series F, despite obstacles such as post-COVID recovery. Agarwal is a testament to how a small-town-based dreamer can become a global upheaval, where quality hospitality is accessible to every citizen.