OYO gets fresh investment, gets $2 billion from RA Hospitality Holdings

OYO Hotels & Homes has announced that Founder & CEO (Group), Ritesh Agarwal, through RA Hospitality Holdings (Cayman), has signed $2 billion primary and secondary management investment round, supported by global institutional banks and his financial partners, subject to regulatory and shareholder approvals. This year, the company has seen a 4.4x YOY growth in revenue in June 2019 (vs. June 2018), with 1 million rooms under management across hotels and homes; with over 200,000 rooms in India. The company’s strong growth, improved margins, superior improvements in customer experience led to this move, making it one of the first founder and executive-led management purchases in the technology and hospitality sector, globally. Lightspeed Venture Partners, and Sequoia India, OYO’s early supporters, are selling part of their holdings in order to help the founder increase his stake and thereby commitment while remaining invested significantly in the company’s long-term mission