The king of hotel chains, Ritesh Agarwal is the founder and CEO of the disruptive hospitality business, OYO Hotels and Rooms, that shot to the billionaires’ list in no time. With a revolutionary idea, this young prodigy changed the entire face of India’s hospitality industry one hotel at a time. Ritesh made a stunning debut in the list of India’s youngest billionaire with a net worth of Rs 7,877 crores.
The start-up company led by Agarwal has spurred a revolution in the travel industry. The company provides a means of booking affordable, standardized rooms for people traveling through the country which was an unperceivable idea for Indians until this young innovator held the beacon. Agarwal’s ingenious ideas and solution-seeking attitude have helped the company raise funds from global companies worth more than $125 million including a $100 million funding from the Alibaba investors Softbank.
OYO is one of the most successful start-ups in the country tracing a graph of breakneck expansions weaving a network spanning across 800 cities in 80 countries with over 43000 hotels and 1 million rooms. This self-made hospitality giant not only transformed India’s travel stories but also paved the way of opportunities for budding Indian entrepreneurs. It won’t be wrong to quote that his start-up unicorn has unlocked the doors of foreign investments for many start-ups by gaining international attention.
The year 2020 has been a big blow to all, but it has severely crippled the hospitality and travel industry. Despite wrestling through the tough tides, this young utopian is poised to make Oyo the number one hotel chain in the world. Holding a microscope in one hand and a telescope in another, Agarwal is exploring opportunities in the domestic and international market to engrave his signature mark on the world’s hospitality scenario!
Thus, a young entrepreneur from a small Indian village is all set to rule a large section of the world’s hotel business. This valorous impresario is also rotating the propellors of the Indian economy by investing in promising Indian start-ups and supporting the nation’s ‘Make in India’ movement. With such gems blooming in the rich land, we can say that young India is marching towards the apex!
