Oyo's Impact on the Country's Budget Hotel Ecosystem

The year 2019 was one of the glorious moments of budget hotel operators in Indonesia. Companies such as Oyo, Reddoorz, Airy, and ZenRooms provide travelers with additional options when airfare increases significantly. Of these names, Oyo shines the brightest.

In the hands of an Indian young man named Ritesh Agarwal, Oyo skyrocketed as one of the fastest growing startups until they became a unicorn. Since its establishment in 2013, Oyo has operated in many countries ranging from South Asia, Southeast Asia, the Middle East, East Asia, Europe, to Latin America. They also successfully received investment support from Softbank in the latest funding round of $1,5 billion.

Indonesia itself is one of the most calculated markets for Oyo. Oyo disbursed funds for the homeland market worth $300 million or equivalent to Rp. 4,2 trillion last year. Oyo Indonesia managed to reach 5 million customers throughout the year and partnered with 27.000 rooms and 1.000 hotels. This is a huge achievement for a company that has not been living in Indonesia for too long.