OYO is a well-known hotel and hospitality company that has gained immense popularity in recent years. People across the globe use its services to book hotels, homes, apartments, and other properties. But have you ever wondered what the full form of OYO is? In this article, we will explore the full form of OYO and other relevant information.
What is OYO?
OYO is a popular hospitality company based in India that operates globally. Founded in 2013 by Ritesh Agarwal, OYO has rapidly expanded its operations across several countries such as the United States, China, Europe, and Southeast Asia. The company offers a wide range of services, including hotel booking, vacation rentals, event organizing, and many more.
Full form of OYO
The full form of OYO is “On Your Own.” The name was coined by its founder Ritesh Agarwal, who started this company when he was just 18 years old. He aimed to provide affordable and comfortable accommodation for travelers, students, and people who need a place to stay. He wanted to offer a hassle-free experience where people could feel like they are “On Your Own.”
Subsidiaries of OYO
OYO has several subsidiaries that operate in different sectors of the hospitality industry. These include:
- OYO Townhouse: A hotel chain that offers high-quality and affordable accommodations with modern amenities.
- OYO Vacation Homes: A service that provides holiday homes, cottages, villas, and apartments for rent.
- OYO Life: A co-living platform that offers affordable, fully-furnished homes for young professionals and students.
- OYO Workspaces: A service that provides shared office spaces, meeting rooms, and virtual offices.
- Weddingz.in: An online marketplace that offers wedding venues, vendors, and other services.
OYO’s global presence
OYO has a significant presence in several countries worldwide, including India, the United States, China, Southeast Asia, Europe, and the Middle East. The company has partnered with thousands of hotels and properties in these regions, offering affordable and comfortable accommodations for travelers.
OYO has also acquired several companies to strengthen its position in the market. In 2019, it acquired Leisure Group, a leading vacation rental company in Europe. It also acquired the Hooters Casino Hotel in Las Vegas, which it rebranded as OYO Hotel & Casino.
OYO’s success story
OYO’s journey has been a remarkable success story. Founded in 2013, the company has rapidly expanded its operations to become one of the largest hospitality chains globally. It has raised more than $3 billion in funding from various investors, including SoftBank, Airbnb, and Sequoia Capital.
The company has been recognized for its innovative business model and exceptional customer service. It has won several awards, including the Economic Times Startup Award for the year 2018. In 2020, OYO was ranked as the world’s third-largest hotel chain by room count.
In conclusion, OYO is a leading hospitality company that offers a wide range of services, including hotel booking, vacation rentals, co-living, and shared workspaces. The company’s success story has been remarkable, and it has rapidly expanded its operations globally.
The full form of OYO is “On Your Own,” which reflects the company’s aim to provide affordable and comfortable accommodations where travelers can feel like they are “On Your Own.” OYO’s subsidiaries and global presence make it a significant player in the hospitality industry, and it continues to innovate and provide exceptional customer service.