>OYO Room’s success inspires to ‘Think big’, ‘Dream Big’
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OYO Room’s success inspires to ‘Think big’, ‘Dream Big’

 

Do success stories inspire you? If yes, then you will find this success story of Mr. Ritesh Aggarwal, definitely an inspirational one. Oyo, the name which has given the whole new experience of hospitality services in India. We all know and see about Oyo rooms whenever we search any hotels online. The hard work behind Oyo’s innovative idea, there is the founder Mr. Ritesh Aggarwal.

According to Mr. Ritesh Aggarwal, OYO started three years ago from a hotel in Gurugram (previously Gurgaon) which has 11 rooms. OYO took over 11 rooms of that Hotel. But now, OYO is the largest network for the budget hotels. OYO rooms are basically the rooms available in budget hotels which can be booked online. OYO is the largest in all the categories with covering almost 5500 properties in 170 cities. Ritesh Aggarwal is a college dropout but a millionaire at the age of 22. This is what we call dedication.

 

Ritesh Aggarwal comes from India’s famous community Marwadi which is known for its entrepreneurship and business skills. At the age of 13, Ritesh Aggarwal used to sell SIM cards. Ritesh Aggarwal’s father had a business in Odisha but now he works for a company. Ritesh Aggarwal changed they entire portfolio of the budget hotels rooms. According to OYO, t has check list of 150 points of standardisation and 30 points of audit check list. Hotels provide commission to the OYO; this commission totally depends on the performance and location of hotel. OYO visits every three days for audit checks and requests for feedback from the costumers.

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As Ritesh Aggarwal said “I could see why travelers would not trust reviews and listings on a website to book in some other part of the country,” The real problem was not discoverability, but the lack of predictability and standardization, while travel agents also going online. Oyo has transformed the standardization so much that earlier the budget hotels didn’t have proper clean washrooms, beds and the rooms were used to be very dirty, there was lack of proper air conditioning and basic amenities.

Ritesh Aggarwal reveals the interesting fact that “we have so much competition and, at the same time, no competition!”“Chain hotels, OTAs [online travel agents], tour operators, and of course another aggregator can be considered as competition. What we focus on instead is the opportunity – any person staying out of home is a potential customer.” Oyo rooms have recently entered in Malaysia and is planning to scale up his business in other south Asian countries. As Ritesh Aggarwal said “I am yet to hear of an entrepreneur who can claim to have succeeded without making mistakes.”

So, it is important to have dreams and goals in life. May be your hard work can let you to become another Ritesh Aggarwal.

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