Entries for suggesting names for Oravel Stays, a parent firm of Ritesh Agarwal led OYO that would help create a “new identity” for the company, have begun and will close soon, the founder shared on Instagram, stating the winner will receive ₹3 lakh. This comes amid the global travel tech platform getting ready to launch its Initial Public Offering (IPO).
Ritesh mentioned that the ideal name should be bold and one-word, global in appeal, not rooted in any single culture or language. It should feel tech-forward, sharp, yet human and memorable. The name must be broad enough to evolve beyond hospitality, and ideally, the .com domain should be available. He’s offering an opportunity to meet him as well.
“We’re renaming the corporate brand behind it all. Not the hotel chain, not a consumer product — but the parent company powering a global ecosystem of urban innovation and modern living. We believe it’s time the world had a new kind of global brand — born in India, but built for the world. We’re inviting brand thinkers, creatives, entrepreneurs, and curious minds to help us craft this new identity — one that reflects our evolution, and opens doors to where we go next,” Ritesh had said.
“OYO is actively exploring launching a separate app for its premium hotels and mid-market to premium company-serviced hotels, as the segment has seen exponential growth across India as well as its global markets. There is a high possibility that the name chosen through the exercise may end up being the name of the premium hotels app that OYO has been working to launch in the near future,” PTI quoted the people familiar with the development as saying.
OYO has organised for five investment banks to give an important presentation to its key shareholder, SoftBank, in June at their London office on Grosvenor Street, which could assess the company’s path to public listing, as it looks to launch an IPO in the last quarter of the current fiscal year, PTI had reported.
PAT of ₹623 crore for the financial year 2024–25
In May, OYO Founder Ritesh Agarwal informed employees that the company had become the most profitable Indian startup, reporting a profit after tax (PAT) of ₹623 crore for the financial year 2024–25. According to its unaudited financial results, this marks a 172% increase from ₹229 crore in the previous fiscal year. OYO also posted an adjusted EBITDA of ₹1,132 crore in FY25, up 27% year-on-year from ₹889 crore in FY24, marking its tenth consecutive quarter of EBITDA profitability, the report added.