Oyo's CEO Talks Going Premium in India, Motel 6 M&A and Shark Tank
Photo Credit: Ritesh Agarwal, Founder and Group CEO of OYO speaking on stage at Skift India Forum, March 2025 Skift
Skift Take
Oyo Hotels founder and Group CEO Ritesh Agarwal is pursuing "relative premiumization" by expanding its upmarket offerings like Townhouse Hotels in India and bringing brands like Sunday to the U.S. market.
Oyo's CEO said the hotel operator is pursuing an aggressive "premiumization" strategy in its home market of India, where rising incomes have created a demand for higher-end accommodation.
Ritesh Agarwal, founder and Group CEO, said Oyo is also expanding in the U.S., where he believes the company's technology savvy can give its newly acquired brand Motel 6 a competitive edge.
"Motel 6 is by far the most recognizable economy [brand] in the U.S.," Agarwal said at the Skift India Forum on Tuesday. "It's become a cultural icon."
The moves are opportunistic ahead of a planned IPO. They also fit the celebrity persona he's developed as an entrepreneur judging on Shark Tank India, which he said has captured a cultural change in India.
Here are some of the key points Agarwal made during his on-stage conversation with Rafat Ali, founder and CEO of Skift.
Oyo's India BusinessAgarwal highlighted the unprecedented travel boom in India, mentioning Kumbh Mela (a Hindu pilgrimage that drew hundreds of millions of visitors), and strong growth in spiritual tourism destination
