According to financial data accessed by business intelligence platform-Tofler, Oravel Stays Private Limited,(known as Oyo Rooms) which operates a network of budget hotels, reported its revenues for the financial year 2017-18 as INR 327 cr, a 204 % jump since the last financial year.
The company further reported a net loss of INR 312 cr during the same fiscal. This is a 3% decrease from the last financial year. The company's total expenses for the fiscal were reported as INR 638 Cr.
OYO Rooms, commonly known as OYO, is India's largest hospitality company, consisting mainly of budget hotels. It was founded in 2013 by Ritesh Agarwal and has since grown to over 8,500 hotels in 337 cities in India, Malaysia, UAE, Nepal, China and Indonesia