In its recent filings with the Registrar of Companies (RoC), OYO has shown a three-fold rise in revenue. From Rs 120 crore in FY17, OYO marked a whopping 245 percent rise in revenue to Rs 415 crore in FY18. It also showed only a marginal rise in loss from Rs 355 crore in FY 17 to Rs 360 crore in FY 18.
So far, this fiscal year has been an interesting year for the Gurugram-based Hotel platform. It acquired the coveted unicorn status in September and also raised $1 billion in funding.
In a recent statement released to the press, Ritesh Agarwal, Founder and CEO, OYO said that in a short span of time the company has already started expanding its presence to newer segments like Townhouse, Oyo Home, and they recently started Palette Resorts. He said that the team will continue to explore newer businesses while remaining focussed on organic and inorganic growth.
Ritesh had said,
"In the last 12 months, we have increased our international footprint to five countries - India, China, Malaysia, and Nepal, and more recently in the UK. With this additional funding, we plan to rapidly scale our business in these countries, while continuing to invest further in technology and talent. We will also deploy fresh capital to take our unique model that enables small hotel owners to create quality living spaces, global.”
OYO India claims to have over 170,000 rooms and is witnessing three times growth in transactions year-on-year with net take rates over 20 percent. The unicorn claims to be achieving unit-level profitability, and benefiting from 90 percent demand coming from its direct channels, improving operating efficiencies while customer loyalty, with over 67 percent of the top line in India coming from repeat customers.
Last month, OYO also launched in the Philippines and is planning to commence operations with over 21 franchised and leased hotels. OYO Hotels also aims to generate over 1,000 direct and indirect jobs to support the economic trajectory of the Philippines in various fields including housekeeping, front office, F&B, general management, civil engineering, data science, hospitality operations and technology.
At present, the Indian unicorn claims to have a presence in over 500 cities across seven countries, including India, China, Malaysia, Nepal, Indonesia, the UK, and UAE. Its first international foray was in 2016.
It claims to have over 13,000 franchised or leased hotels and over 3,000 homes as part of its chain. OYO is backed by leading investors, including the SoftBank Group, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise and China Lodging Group.