Oyo, formally known as Oravel Stays Private Limited, is a trailblazing hospitality company that has redefined the budget accommodation sector. Founded in 2012 by Ritesh Agarwal, Oyo has swiftly ascended to become one of the largest and most influential players in the global hospitality market. The company is headquartered in Gurugram, Haryana, India, and operates in more than 80 countries, offering over 1 million rooms under its management. Oyo's unique business model is built on partnerships with hotels, guesthouses, and homes, where it standardizes the offerings and rebrands them under the Oyo umbrella. The primary revenue model involves revenue sharing with these partner properties based on bookings and occupancy rates. The company’s diversified service products include Oyo Rooms, Oyo Townhouse, Oyo Homes, Oyo Vacation Homes, Oyo Workspaces and Oyo Life each catering to a specific market and economy. The company has established a formidable presence in countries such as China, the United States, the United Kingdom, and several regions in Southeast Asia and Europe. This extensive network has allowed Oyo to cater to a broad spectrum of travelers, from budget-conscious backpackers to business professionals seeking reliable accommodations. The company had filed for IPO in October 2021 and refiled it in April 2023, but has since withdrawn the same in favour of private fund raising to meet its capital needs.