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₹24.75
₹24.75
Lot Size
1,000 Shares
Min. Investment
₹24,750
EPS annualised on basis of 9M FY26 Earnings.
OYO is one of the world's leading technology-driven hospitality platforms, transforming the global accommodation industry through a digitally enabled, asset-light business model. Founded in 2012 by Ritesh Agarwal, OYO was established with the objective of organizing the fragmented hospitality sector by creating standardized, affordable and quality accommodation for travelers while empowering independent hotel owners with technology, branding and operational expertise.
Over the years, OYO has evolved from an Indian budget hotel brand into a diversified global hospitality ecosystem operating across hotels, vacation homes, serviced apartments and online accommodation listings. Rather than owning hotels, OYO partners with independent property owners and hospitality operators, enabling them to improve occupancy, optimize pricing, enhance guest experience and increase operational efficiency through its proprietary technology platform.
Today, OYO serves leisure travelers, business travelers, families, digital nomads and corporate customers through an integrated hospitality platform spanning multiple countries and accommodation categories. The company combines artificial intelligence, data analytics, revenue management systems and digital automation to create value for both customers and accommodation partners.
With operations across more than 35 countries, OYO has established itself as one of the largest hospitality technology companies globally. As of December 31, 2025, the platform comprised more than 24,300 hotels, 124,600+ vacation homes, and 144,500+ accommodation listings, while serving over 119 million unique customers since inception. Through an expanding portfolio of hospitality brands and strategic international acquisitions, OYO continues to strengthen its position in the global travel and accommodation industry.
Evolution of OYO
The journey of OYO reflects the rapid transformation of India's hospitality industry over the last decade. The company started with a vision of making quality accommodation accessible to travelers while helping independent hotels compete with organized hospitality chains through standardized services and technology-enabled operations.
Initially focused on affordable hotels in India, OYO gradually expanded into premium hotels, serviced apartments, vacation homes and holiday rentals. As customer preferences evolved, the company diversified beyond budget accommodation and introduced multiple hospitality brands catering to different price segments and travel requirements.
International expansion became another important milestone in OYO's growth journey. The company entered several overseas markets across Asia, Europe, North America, the Middle East and Australia, building a diversified global hospitality platform through both organic expansion and strategic acquisitions.
Over time, OYO transformed from being primarily a hotel aggregation platform into a comprehensive hospitality technology company providing end-to-end solutions for property owners, travelers and institutional partners. Today, the company's operations extend well beyond accommodation bookings to include pricing intelligence, revenue optimization, operational technology, customer support, distribution management and hospitality services.
This transformation has enabled OYO to create a scalable business model that leverages technology rather than physical asset ownership, allowing the company to expand rapidly while maintaining operational flexibility.
Business Model
Unlike traditional hotel chains that invest heavily in acquiring or developing properties, OYO primarily operates an asset-light hospitality platform. Instead of owning most of the hotels available on its platform, OYO partners with independent hotel owners, vacation home operators and accommodation providers by offering technology, branding and operational support.
Under this model, property owners continue to own and operate their establishments, while OYO assists them in improving occupancy, customer acquisition, pricing strategies, operational efficiency and guest satisfaction. This approach enables accommodation partners to leverage OYO's brand recognition, digital infrastructure and distribution network without relinquishing ownership of their assets.
OYO's technology platform supports nearly every aspect of hotel operations, including reservations, pricing, inventory management, customer communication, housekeeping coordination, digital payments and performance analytics. These capabilities allow hotel partners to optimize room utilization while maintaining consistent service standards.
For travelers, the platform simplifies the booking process by providing standardized accommodation options, transparent pricing, digital check-in facilities, secure payment methods and customer support across multiple markets. The combination of technology and operational expertise has enabled OYO to build a scalable ecosystem connecting millions of customers with thousands of hospitality partners worldwide.
Because the business relies primarily on partnerships rather than direct ownership of hotels, OYO is able to expand into new markets more efficiently while maintaining relatively lower capital expenditure compared to traditional hospitality companies.
Global Presence
Over the last decade, OYO has established one of the largest hospitality networks among technology-enabled accommodation platforms. The company operates across more than 35 countries, serving customers through an extensive portfolio of hotels, homes and accommodation listings.
As of December 31, 2025, OYO's platform included:
- 24,303 Hotels
- 124,668 Vacation Homes
- 144,583 Total Accommodation Listings
- 119.3+ Million Unique Customers
These properties are spread across key international markets including **India, the United States, the United Kingdom, France, Denmark, Belgium, the Netherlands, Germany, Spain, Portugal, Italy, Ireland, Croatia, Austria, Australia, Indonesia, Malaysia, Vietnam, Thailand, the Philippines, Japan, the UAE, Saudi Arabia, Nepal and several other countries.
Rather than depending on a single geography, OYO has developed a diversified global presence, reducing dependence on any one travel market while enabling the company to benefit from multiple tourism and business travel corridors worldwide.
The company's international operations also expose it to different customer segments, seasonal travel patterns and accommodation preferences, helping diversify revenue streams and strengthen long-term business resilience.
Hospitality Ecosystem
OYO has developed an integrated hospitality ecosystem connecting multiple stakeholders across the accommodation industry. Instead of functioning solely as an online booking platform, OYO provides technology-enabled solutions throughout the hospitality value chain.
The ecosystem primarily consists of:
- Independent hotel owners
- Vacation home owners
- Property managers
- Franchise partners
- Corporate customers
- Leisure travelers
- Business travelers
- Travel agencies
- Online travel platforms
- Payment partners
- Technology providers
- Distribution partners
Each participant benefits from OYO's centralized technology platform, enabling efficient interaction between accommodation providers and customers.
Hotel partners gain access to sophisticated pricing algorithms, centralized reservation systems, digital marketing, customer acquisition channels, operational support and revenue optimization tools. Travelers benefit from standardized accommodation options, seamless booking experiences, digital payment solutions and customer support.
This network effect creates value for both sides of the marketplace, allowing OYO to continuously strengthen its hospitality ecosystem while improving efficiency across the accommodation industry.
Hotels Business
The Hotels business remains the largest and most important operating segment of OYO. Through this business, the company partners with independent hotels and hospitality operators across multiple countries by providing branding, technology infrastructure, distribution capabilities and operational support.
Instead of constructing hotels, OYO enters into franchise, management service or lease arrangements depending upon the specific property and market. This flexible operating structure enables the company to rapidly increase its accommodation inventory while minimizing capital investment.
Hotel partners receive access to a comprehensive suite of services including:
- Brand affiliation
- Revenue management
- Dynamic pricing tools
- Reservation management systems
- Property management software
- Digital marketing support
- Customer acquisition
- Payment processing
- Guest feedback management
- Operational analytics
- Quality assurance systems
These services enable hotel owners to improve occupancy levels, increase average room rates and enhance overall profitability.
OYO's hotel portfolio spans multiple customer segments ranging from economy accommodations to premium lifestyle hotels. The company has gradually expanded beyond its traditional budget positioning to serve higher-value travel categories through specialized hospitality brands.
Its hotel brands include:
- OYO
- Hotel O
- Townhouse
- Townhouse Oak
- Sunday
- Palette
- Collection O
- Capital O
- Motel 6
- Studio 6
Each brand addresses specific customer preferences, travel budgets and service expectations, enabling OYO to cater to a broad spectrum of travelers while strengthening its global hospitality portfolio.
Homes Business
The Homes business represents OYO's vacation rental and holiday accommodation platform, serving travelers seeking alternatives to traditional hotels.
This segment primarily operates through internationally recognized brands including Belvilla, DanCenter and Checkmyguest, offering professionally managed villas, apartments, cottages, holiday homes and vacation rentals across Europe and Australia.
The Homes platform caters to families, long-stay travelers, leisure tourists and group travelers who prefer larger living spaces, self-catering facilities and destination-based holiday experiences.
Beyond accommodation bookings, OYO also provides property management support, guest services, maintenance coordination, cleaning services and digital booking infrastructure for homeowners and property managers participating in the platform.
Through this business, OYO has significantly expanded its addressable market while diversifying beyond conventional hotel accommodations into the rapidly growing global vacation rental industry.
Listings Business
In addition to branded hotels and managed vacation homes, OYO also operates a Listings business that allows accommodation providers to list their properties on the platform through subscription-based and marketplace models.
The Listings platform primarily serves European markets by connecting independent accommodation providers with OYO's customer base without requiring full operational integration.
This business expands OYO's inventory while providing customers with a wider variety of accommodation choices across different destinations and price points. It also creates an additional revenue stream through subscription fees and platform services while strengthening OYO's overall digital hospitality ecosystem.
Technology Platform
Technology is at the core of OYO's business model. The company has developed a comprehensive hospitality technology ecosystem comprising more than 40 proprietary products and digital solutions that support hotel operations, customer engagement, pricing, reservations and business analytics. These solutions help accommodation partners automate day-to-day operations while improving operational efficiency and guest experience.
OYO leverages artificial intelligence, machine learning and data analytics to optimize room pricing, forecast demand, personalize customer recommendations and improve occupancy levels. The technology platform also supports digital check-ins, payment processing, customer support, housekeeping management and real-time business reporting, enabling property owners to make data-driven decisions.
Brand Portfolio
Over the years, OYO has expanded from a single hotel brand into a diversified hospitality platform with multiple brands serving different customer segments and travel needs. Its portfolio includes economy, premium and extended-stay accommodation brands across several international markets.
Some of the major brands operated by OYO include Hotel O, OYO, Townhouse, Townhouse Oak, Sunday, Palette, Collection O, Capital O, Motel 6, Studio 6, Belvilla, DanCenter and Checkmyguest. This diversified brand portfolio enables OYO to cater to leisure travellers, business travellers, families, long-stay guests and vacation home customers across different price segments.
Strategic Acquisitions
OYO has strengthened its international presence through a series of strategic acquisitions that have expanded both its geographic reach and service offerings. The acquisition of G6 Hospitality added the well-known Motel 6 and Studio 6 brands to the company's portfolio, significantly enhancing its presence in North America.
The company has also expanded its vacation rental business through acquisitions of Belvilla, DanCenter, Checkmyguest, Traum Ferienwohnungen and MadeComfy. These acquisitions have enabled OYO to diversify beyond hotels into holiday homes, serviced apartments and property management solutions across Europe and Australia while broadening its customer base.
Customer Acquisition & Distribution
OYO reaches customers through multiple distribution channels, creating a diversified demand generation platform. Bookings are driven through the OYO mobile application, company website, call centres, corporate partnerships, online travel agencies and various digital marketing initiatives.
The company also maintains relationships with corporate clients and travel partners, enabling business travellers and enterprise customers to access accommodation across multiple destinations. A growing proportion of bookings is generated through OYO's direct channels, helping improve customer retention while reducing dependence on third-party booking platforms.
Revenue Model
OYO follows a diversified revenue model built around its technology-enabled hospitality platform. The company primarily earns revenue through franchise fees, revenue-sharing arrangements with hotel partners, management fees, subscription income from property listings and commissions from vacation home bookings.
In addition to its core accommodation business, OYO generates revenue from value-added services such as food and beverage offerings, property management services, cleaning and maintenance solutions, corporate travel services, wedding and event platforms, and other hospitality-related offerings. This diversified revenue structure reduces dependence on any single business segment while supporting long-term growth.
Scale of Operations
Over the years, OYO has built one of the world's largest hospitality platforms through a combination of organic expansion and strategic acquisitions. As of December 31, 2025, the platform comprised more than 24,300 hotels, over 124,600 vacation homes and approximately 144,500 total property listings across more than 35 countries. Since inception, OYO has served over 119 million unique customers, reflecting its strong global brand recognition and customer reach.
Operational Performance
OYO has significantly improved its operating performance in recent years by focusing on profitability, operational efficiency and disciplined cost management. The company has strengthened its gross booking value (GBV), increased direct customer demand and improved contribution margins through better pricing, technology-led automation and higher partner productivity.
The business has also benefited from increasing repeat customers, improved occupancy across partner properties and greater adoption of premium accommodation brands. These initiatives have helped OYO improve operating leverage while strengthening its financial performance.
International Expansion
International markets have become an increasingly important growth driver for OYO. The company has expanded its footprint through acquisitions and strategic partnerships across North America, Europe, Australia and several Asian markets.
The acquisition of G6 Hospitality significantly strengthened OYO's presence in the United States by adding the Motel 6 and Studio 6 brands, while acquisitions such as Belvilla, DanCenter, Traum Ferienwohnungen, Checkmyguest and MadeComfy expanded its position in the vacation rental and managed homes segments across Europe and Australia. These acquisitions have diversified OYO's revenue base while strengthening its global hospitality ecosystem.
Growth Strategy
OYO aims to strengthen its leadership in technology-enabled hospitality by expanding both its domestic and international operations. The company intends to increase the number of premium hotels, enhance the customer experience through artificial intelligence and automation, improve direct bookings and continue investing in technology that enables property owners to optimize occupancy and pricing.
Another important focus area is expanding higher-margin businesses, including premium hotels, vacation homes and managed properties, while improving operational efficiencies across existing markets. OYO also plans to deepen its presence in strategic international markets through selective acquisitions, partnerships and organic growth.
Sustainability and Responsible Growth
OYO continues to integrate sustainability initiatives into its operations by encouraging responsible resource utilisation, digital processes and efficient property management practices. The company is also working with hotel partners to improve operational standards, reduce environmental impact and promote responsible tourism practices across its hospitality network.
Alongside environmental initiatives, OYO focuses on strengthening governance practices, data security, regulatory compliance and customer trust while supporting hotel entrepreneurs and generating employment opportunities within the hospitality sector.
Future Outlook
The global travel and hospitality industry continues to benefit from rising tourism, increasing business travel, digital adoption and growing demand for organized accommodation. OYO is well positioned to benefit from these long-term trends through its scalable asset-light business model, diversified hospitality brands and technology-driven operating platform.
Going forward, OYO intends to strengthen its market position by expanding premium offerings, increasing technology adoption, enhancing customer engagement and broadening its international footprint. With a combination of strong brand recognition, a large partner ecosystem, proprietary technology and diversified global operations, OYO continues to position itself as one of the leading hospitality technology companies serving travelers and property owners worldwide.
Figures shown in millions. YoY shown under each year; trend sparkline on the right.
| Particulars | FY 2022-23 | FY 2023-24 | FY 2024-25 | Trend |
|---|---|---|---|---|
| INCOME | ||||
| Revenue from contracts with customers | 54,639.45 | 53,887.89 | 62,528.30 | |
| Other income | 1,377.59 | 1,527.96 | 730.58 | |
| Total income | 56,017.04 | 55,415.85 | 63,258.88 | |
| EXPENSES | ||||
| Operating expenses | 31,372.76 | 28,854.41 | 31,295.47 | |
| Employee benefits expense | 15,488.40 | 7,443.82 | 6,160.87 | |
| Finance cost | 6,815.80 | 8,438.18 | 9,591.55 | |
| Depreciation and amortization expense | 2,802.85 | 2,003.46 | 4,835.87 | |
| Other expenses | 11,517.14 | 10,517.95 | 14,711.66 | |
| Total expenses | 67,996.95 | 57,257.82 | 66,595.42 | |
| Profit/(Loss) before tax from continuing operations | (12,862.79) | 2,358.20 | (4,893.17) | |
| Tax expense | ||||
| Current tax | 383.55 | 575.00 | 334.19 | |
| Deferred tax | (381.16) | (512.59) | (7,675.58) | |
| Income tax expense | 2.39 | 62.41 | (7,341.39) | |
| Profit/(Loss) for the year | (12,865.18) | 2,295.79 | 2,448.22 | |
| EPS (₹) | (1.93) | 0.36 | 0.38 |
Figures shown in millions. YoY shown under each year; trend sparkline on the right.
| Particulars | As on 31-03-2023 | As on 31-03-2024 | As on 31-03-2025 | Trend |
|---|---|---|---|---|
| Assets | ||||
| Total Non-Current Assets | 56,379.96 | 50,217.08 | 145,690.26 | |
| Current Assets | ||||
| Total Current Assets | 22,944.36 | 14,217.65 | 21,262.96 | |
| Total Assets | 79,324.32 | 64,434.73 | 166,953.22 | |
| Equity and Liabilities | ||||
| Equity | ||||
| Share Capital | 1,328.12 | 1,349.87 | 6,787.35 | |
| Instruments entirely equity in nature | 11.12 | |||
| Other equity | 17,258.27 | 40,894.30 | ||
| Securities premium | 167,120.03 | |||
| Retained earnings | (187,135.41) | |||
| Other reserves | 34,597.93 | |||
| Equity attributable to the equity holders of the parent | 15,921.79 | 18,608.14 | 47,681.65 | |
| Non-Controlling interests | (10,096.05) | (9,600.82) | ( 9,815.43) | |
| Total equity | 5.825.74 | 9,007.32 | 37,866.22 | |
| Liabilities | ||||
| Non-current liabilities | 54,309.49 | 40,245.84 | 103,216.91 | |
| Current Liabilities | 19,195.09 | 15,181.57 | 25,870.09 | |
| Total Liabilities | 73,498.58 | 55,427.41 | 129,087.00 | |
| Total equity and liabilities | 79,324.32 | 64,434.73 | 166,953.22 |
Figures shown in millions. YoY shown under each year; trend sparkline on the right.
| Particulars | FY 2022-23 | FY 2023-24 | FY 2024-25 | Trend |
|---|---|---|---|---|
| Cash flow from operating activities | ||||
| Loss for the year from continuing operations | (12,862.79) | 2,358.20 | (4,893.17) | |
| Profit from discontinued operation | - | |||
| Adjustment to reconcile loss before tax to net cash flows | 15,506.27 | 5,791.18 | 15,630.03 | |
| Cash flow from operating activities | 2,643.48 | 8,149.38 | 10,736.86 | |
| Movements in working capital : | ||||
| Cash generated from/ (used in) operations | 1,752.97 | 6,177.91 | 3,489.70 | |
| Taxes paid (net of refund) | (334.62) | (195.66) | (277.19) | |
| Net cash generated from/ (used in) operating activities (A) | 1,418.35 | 5,982.25 | 3,212.51 | |
| Investing activities | ||||
| Net cash flow used in investing activities | (1,088.25) | 14,249.02 | (42,121.43) | |
| Financing activities | ||||
| Net cash flow (used in)/ from financing activities | (7,047.22) | (24,131.87) | 41,598.45 | |
| Cash and cash equivalents at the end of the year | 7,964.88 | 4,082.19 | 6,857.21 | |
| Total cash and cash equivalents | 7 ,964.88 | 4,082.19 | 6,857.21 |
Track historical financial performance, profitability, and valuation metrics of Oravel Stays Limited (OYO Unlisted Shares) through interactive charts based on reported financial data.
Key Performance Indicators:
Profit Grew
The profit for the year improved to ₹2,448.22 million in FY 25
Total Income Increased
The consolidated total income grew significantly, reaching ₹62,528.30 million in FY 25
EPS Improved
Basic earnings per share (EPS) saw a slight increase to ₹0.38 in FY 25
Total Expenses Rose
The consolidated total expenses increased to ₹66,595.42 million in FY 25
Unique Market Position
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Browse All Unlisted SharesNo Active Buybacks
There are currently no active or upcoming share buyback programs announced for Oravel Stays Limited (OYO Unlisted Shares).
No Dividend History
We have not tracked any interim or final dividend declarations for Oravel Stays Limited (OYO Unlisted Shares).
No Stock Splits
There are no historical records of face-value stock splits for Oravel Stays Limited (OYO Unlisted Shares) in our database.
Record Date: Dec 05, 2025
Record Date: Sep 30, 2025
No Rights Issues
No rights issue offerings are currently recorded or available for Oravel Stays Limited (OYO Unlisted Shares).
The hospitality unicorn is looking to raise ₹6,650 Cr from the IPO which will comprise solely of a fresh issue of shares and no OFS component
PRISM, the parent company of hospitality technology firm OYO, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), according to sources aware of the matter.
OYO’s parent company, Oravel Stays, now renamed PRISM, plans to raise up to ₹6,650 crore through a fresh issue of equity shares, targeting a valuation of $7-8 billion.
The company stated that it will replace the earlier proposal with a new, simplified bonus issue that will cover all shareholders equally, without any opt-in process.
The move comes as OYO prepares to refile its IPO paperwork later this month, targeting a valuation between $7–8 billion.
Oravel Stays, parent of Oyo, has rebranded to PRISM, a new identity uniting its growing portfolio across budget stays, premium hotels, vacation homes and tech solutions
Oravel Stays Limited, which operates OYO, kicked off FY26 on a strong note with profits more than doubling in the first quarter of the ongoing fiscal year.
Outstanding shares considered for ratio calculations include only equity shares. Convertible securities and potential dilution instruments have not been considered; therefore, actual ratios may vary.
Oravel Stays Limited
Ground Floor - 001, Maransh
Elanza, Shyamal Cross Road,
Nr. Parekh Hospital, Satelite,
Ahmedabad 380015, Gujarat,
India Tel: +91-79-41005020
Quick enquiry - tell us what you want and we'll reach out via WhatsApp or email.
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