OYO, a leading name in the hospitality industry, has introduced a new business-to-business (B2B) solution aimed at addressing the corporate travel and event management needs of businesses across India. Announced by the company’s founder and CEO, Ritesh Agarwal, on the social media platform X, this initiative underscores OYO's commitment to enhancing the corporate travel experience for companies, offering specialized services for events such as summits, off-site meetings, and business conferences.

Customized Corporate Services Across 500+ Locations

Agarwal highlighted OYO’s extensive network of over 500 company-serviced accommodations across the country. These properties offer special corporate rates and include tailored services such as personalized meal plans, professional conference setups, and comprehensive event support. The goal is to provide seamless travel and event solutions for businesses of all sizes, ensuring convenience and comfort.

Industry Leaders Already Onboard

OYO’s B2B arm has already catered to several industry giants, including companies such as Tech Mahindra, JIO Platforms, Cult Fit Healthcare, Sun TV Network, V Mart Retail, Devyani International, Aditya Birla Health Insurance, India Infoline, and Reliance Group Support Services Private. The hospitality major aims to expand its client base across various sectors by offering tailored packages to meet the specific needs of corporate travelers and event organizers.

OYO, a leading name in the hospitality industry, has introduced a new business-to-business (B2B) solution aimed at addressing the corporate travel and event management needs of businesses across India. Announced by the company’s founder and CEO, Ritesh Agarwal, on the social media platform X, this initiative underscores OYO's commitment to enhancing the corporate travel experience for companies, offering specialized services for events such as summits, off-site meetings, and business conferences.

Customized Corporate Services Across 500+ Locations

Agarwal highlighted OYO’s extensive network of over 500 company-serviced accommodations across the country. These properties offer special corporate rates and include tailored services such as personalized meal plans, professional conference setups, and comprehensive event support. The goal is to provide seamless travel and event solutions for businesses of all sizes, ensuring convenience and comfort.

Industry Leaders Already Onboard

OYO’s B2B arm has already catered to several industry giants, including companies such as Tech Mahindra, JIO Platforms, Cult Fit Healthcare, Sun TV Network, V Mart Retail, Devyani International, Aditya Birla Health Insurance, India Infoline, and Reliance Group Support Services Private. The hospitality major aims to expand its client base across various sectors by offering tailored packages to meet the specific needs of corporate travelers and event organizers.

Comprehensive Travel and Event Solutions

Oravel Travel Solutions, the entity behind OYO’s corporate travel services, provides end-to-end support for its corporate clients. The platform promises to streamline the entire process, from check-ins and conference arrangements to event logistics management. This service gives companies access to over 500 dedicated properties across India, offering corporate pricing and customized services, making OYO a one-stop solution for corporate travel and event planning.

OYO’s Global Expansion and Recent Acquisitions

This B2B development comes as OYO continues its aggressive global expansion strategy. In a major move last month, the company acquired G6 Hospitality, the US-based parent company of the Motel 6 and Studio 6 brands, for $525 million. This acquisition strengthens OYO’s presence in the North American market, adding to its portfolio of international assets.

Strengthening Leadership and Expanding Operations

In tandem with its growth, OYO has bolstered its leadership team. Sonal Sinha was recently appointed as Chief Operating Officer (COO) for international business, while Rachit Srivastava took over as COO of vacation homes in Europe. Additionally, Global COO Abhinav Sinha is set to transition into an advisory role by January 2025. Meanwhile, OYO’s subsidiary, Innov8, has announced plans to expand its managed office space business. Innov8 will be adding 4 million square feet of office space across India over the next three years, backed by an investment of INR 50 crore.

Financial Performance and Future Prospects

OYO has made significant strides financially, reporting its first profitable year in FY24. The company posted a profit of INR 229.5 crore, a sharp turnaround from the INR 1,286.5 crore loss recorded in FY23. In August 2024, OYO raised INR 1,457 crore in funding led by Singapore-based Patient Capital. The company is now in discussions to secure an additional $200 million in funding, which would value OYO between $4.5 to $5 billion. Furthermore, OYO is working on refinancing $450 million of its existing debt and aims to refile its IPO papers after completing the refinancing of its $660 million Term Loan B.

Conclusion

OYO’s latest B2B platform is set to revolutionize corporate travel and event management across India, with its extensive network of properties and tailored solutions. As the company continues to expand both domestically and globally, it remains focused on enhancing its offerings for corporate clients while maintaining its trajectory towards growth and profitability.

Oravel Travel Solutions, the entity behind OYO’s corporate travel services, provides end-to-end support for its corporate clients. The platform promises to streamline the entire process, from check-ins and conference arrangements to event logistics management. This service gives companies access to over 500 dedicated properties across India, offering corporate pricing and customized services, making OYO a one-stop solution for corporate travel and event planning.

OYO’s Global Expansion and Recent Acquisitions

This B2B development comes as OYO continues its aggressive global expansion strategy. In a major move last month, the company acquired G6 Hospitality, the US-based parent company of the Motel 6 and Studio 6 brands, for $525 million. This acquisition strengthens OYO’s presence in the North American market, adding to its portfolio of international assets.

Strengthening Leadership and Expanding Operations

In tandem with its growth, OYO has bolstered its leadership team. Sonal Sinha was recently appointed as Chief Operating Officer (COO) for international business, while Rachit Srivastava took over as COO of vacation homes in Europe. Additionally, Global COO Abhinav Sinha is set to transition into an advisory role by January 2025. Meanwhile, OYO’s subsidiary, Innov8, has announced plans to expand its managed office space business. Innov8 will be adding 4 million square feet of office space across India over the next three years, backed by an investment of INR 50 crore.

Financial Performance and Future Prospects

OYO has made significant strides financially, reporting its first profitable year in FY24. The company posted a profit of INR 229.5 crore, a sharp turnaround from the INR 1,286.5 crore loss recorded in FY23. In August 2024, OYO raised INR 1,457 crore in funding led by Singapore-based Patient Capital. The company is now in discussions to secure an additional $200 million in funding, which would value OYO between $4.5 to $5 billion. Furthermore, OYO is working on refinancing $450 million of its existing debt and aims to refile its IPO papers after completing the refinancing of its $660 million Term Loan B.

Conclusion

OYO’s latest B2B platform is set to revolutionize corporate travel and event management across India, with its extensive network of properties and tailored solutions. As the company continues to expand both domestically and globally, it remains focused on enhancing its offerings for corporate clients while maintaining its trajectory towards growth and profitability.