OYO now biggest hospitality tech platform in Indonesia: CEO Ritesh Agarwal

OYO CEO Ritesh Agarwal said that the hospitality chain is the biggest hospitality tech platform in Indonesia. He said that there are over 2,500 exclusive OYO hotels available across over 180 cities. 

“Milestone alert :) We are now the biggest hospitality tech platform in Indonesia with over 2,500 exclusive hotels available for bookings across 180+ cities! We have hosted over 13 million guests since 2018, recording 15x growth!,” said Agarwal in a LinkedIn post.

Agarwal stated that to meet the growing demand for premium accommodation, they are increasing their premium hotels, particularly Townhouse Oak and Collection O. He also said that they are increasing their footprint across the country. 

He also shared a link to an Indonesian travel site that said that OYO has over 13 million customers. According to detiktravel, OYO recorded a business growth of 15 times. It said that OYO that started its journey in Indonesia in Jakarta, Palembang and Surabaya, eventually expanded to Jabodetabek, Bandung, Karawang, Cirebon, Sleman, Surabaya, Malang, Batu, Yogyakarta and Semarang. 

The company saw an increase of 237 per cent in 2022 over the previous year in the number of corporate customers, the report stated. 

Meanwhile in India, Oravel Stays that owns OYO, stated during a town hall that it is focussing on reducing operational inefficiencies that will further push up profitability. Agarwal said that they will become adjusted EBITDA positive this fiscal year for the first time. 

The company is expecting to close its adjusted EBITDA for second half of FY23 at Rs 185 crore, which is a 3x increase from H1 that was closed at Rs 63 crore. 

Also read: OYO to focus on reducing operational inefficiencies, will become EBIDTA positive for the first time in FY23