OYO received bookings worth Rs 110 crore for New Year celebrations: CEO Ritesh Agarwal

New Delhi: OYO Founder and Group CEO Ritesh Agarwal has revealed that the company had received over 5 lakh bookings for New Year 2022 celebrations. Overall, the renters booked more than 5 lakh nights, generating bookings worth more than Rs 110 crore over the weekend on the global platform. 

In a Twitter post, he said, “Thank you to over a million people who booked more than half a million nights with us this New Year. For all of us at OYO, it was a busy NYFireworks.

The founder also revealed the company received over 5,03,000 bookings in 2021 for December 30 and 31 December. In comparison, five years ago in 2016, the company had received 102,000 bookings for the same days that year. 

He also added that 58 per cent of bookings for New Year's eve were made on the same day keeping the trend witnessed since December 2017. Last-minute bookings reflected the "impulsive emotion and decision" related to travel. 

Thank you to over a million people who booked more than half a million nights with us this New Years. For all of us at OYO, it was a busy NY

Rooms booked on NY weekend (30 & 31 Dec) in 2016 vs 2021:
2016: 102K
2021: 503K — Ritesh Agarwal (@riteshagar) January 8, 2022

Travel has always been "an impulsive emotion and decision", he said adding that OYO's data vindicated it.

"Thank you to over a million people who booked more than half a million nights with us this New Year. For all of us at OYO, it was a busy NY (new year)," he wrote in his post on LinkedIn.

He further said, "2021 booking was (the) highest among 90 pandemic weekends since April 2020 with total customer bookings globally on our platform worth (around) Rs 110 crore (USD 14.6 million) over the weekend."

Agarwal also pointed out the growth the tech-driven hospitality chain has witnessed in the past few years. He said in 2021 OYO has established a presence in over 10,000 cities with around 1.59 lakh storefronts in 35 countries. In 2015, it had a presence in 127 cities with 1,229 storefronts. Also Read: 

Sharing his concern related to the fresh surge in COVID-19 cases, he said, "Let us all brace for what 2022 has in store for us. And while 2020 and 2021 have been hard hitting, we have seen that we will all take every opportunity to indulge in what we all love - travelling and exploring the world around us. Also Read: 

- With PTI inputs.