We have heard of stories from millionaires and billionaires alike of how they managed to get their first million and how they managed to grow their businesses from zero to successful.
This is one of those stories but with a little twist. Meet the founder of OYO Hotels, Ritesh Agarwal.
Ritesh was never born with a silver spoon in his mouth, he is the true definition of “self-made”. Ritesh comes from a family who runs a small shop in Southern Odisha, India. At the age of 13 years old, he started selling SIM cards and in 2011, he moved to New Delhi to further his studies in a college there. However, after two years, he decided to drop out because he thought that he would not do well academically. From there, he took a leap of faith and here he is now.
According to GQ India, Ritesh’s motivation to start OYO (On Your Own) was actually pretty simple.
“It was because I couldn’t have the TV remote control at relatives’ homes (that I thought of starting OYO Rooms). The relatives would want to watch soap operas and I wanted to watch Cartoon Network.”
Other than that, one of the first things that he did in his hospitality career was to help bring up a small hotel! He noticed that there was a hotel nearby that was not doing well. So he met up with the owner and offered to help by giving the owner some advice about what to change. He also helped upload some pictures on the internet and soon, the hotel was bustling with new customers.
In May 2013, Ritesh decided to start a budget hotel Oravel Stays as he was frustrated with the lack of hygienic and cheap hotels. According to Business Insider, Ritesh’s road to his first billion was not without failure, in fact, he failed six times to which he says,
“If you have not failed, you have not hardened yourself.”
OYO was initially a website which updates and resells available hotel rooms but in 2016, Ritesh expanded the business model and started to rebrand hotels as OYO properties. According to Warga Biz, they added one to two hotels per day in the first few months and to date, the company has more than 43,000 hotels in 800 cities globally and has 20,000 employees. His current investors include SoftBank, Sequoia Capital India, Airbnb and Greenoaks Capital.
The most amazing thing about Ritesh’s story is how he managed to turn just a little idea that he had into reality with his own wits and entrepreneurial skills in just 6 years!
We’re excited to see what changes Ritesh will bring to the hospitality industry soon!
PDRM Proposes ‘Ability To Drive’ Assessment For Senior Citizens Before They Can Renew Their License
PDRM has suggested that the government needs to set a new requirement for senior citizens before they can renew their...
Sri Lanka’s Famous Shaman Who Allegedly Claims He Could Cure Covid-19 Dies Due To The Virus
A high-profile shaman from Sri Lanka who claimed he was able to stop the spread of the virus in his...
YB Khairy: Interval Between 1st & 2nd Doses Of AstraZeneca Vaccine Shortened To 6 Weeks
The Minister of Health, YB Khairy Jamaluddin informed that the period between the first and second doses of the AstraZeneca...
Lorry Driver High On Drugs Falls Asleep On The Wheel & Loses Control Of Vehicle On NKVE
A lorry driver lost control of his vehicle after falling asleep on the wheel and skidded on the NKVE heading...
M’sian Man In Somalia Sentenced To 15 Years In Jail For Assisting Terrorist Organisation
A 34-year-old Malaysian man named Ahmad Mustakim Abdul Hamid, was sentenced to 15 years in prison by a Somali military...
KJ: Herd Immunity No Longer Achievable With 80% Vaccination Due To Delta Variant
The Ministry of Health (KKM) will not longer use the conventional formula of achieving herd immunity with at least 80%...
56 Politicians Were Convicted Of Flouting SOPs Throughout The Lockdown Period
A couple of months ago, #KerajaanGagal was trending online for various reasons, one of which is the fact that many...
PDRM On The Hunt For Those Who Leaked Alleged Lewd Messages & Videos Of Celebrity Preacher
The police have opened up an investigation paper after detecting the spread of several video clips and lewd messages allegedly...
Film & TV20 hours ago
Phone Number Shown On ‘Squid Game’ Belongs To A Real Person Who Has Received Over 4000 Calls From Fans
Social Stories17 hours ago
Watch: Motorcyclist Crashes Into A Person Crossing Lanes At The Grand Saga Toll Plaza
Social Stories18 hours ago
Indian Court Orders Beauty Salon To Pay RM1.13 Million To A Customer For Ruining Her Haircut
Social Stories19 hours ago
SG Security Guard Fined RM14k For Pouring Hand Sanitiser Into Coworker’s Water Bottle