Ritesh Agarwal

About

Date of Birth16th November 1993
PlaceBissam Cuttack, Orissa, India
EducationGraduated from St. John’s Senior Secondary School. Dropped out Indian School of Business & Finance, Delhi
SpouseGeetansha Sood
Net Worth₹16000 crore

Background

Ritesh Agarwal was raised in Titilagarh after being born into a Marwari family in Bissam Cuttack, Orissa, India. In Rayagada, Odisha, his family ran a modest store. Before going to college in Delhi in 2011, he finished his education at Sacred Heart School and then St. John’s Senior Secondary School. On March 7, 2023, Ritesh Agarwal weds Geetansha Sood, a Lucknow native. At 17, he traveled extensively across India, staying in budget hotels, which gave him insights into the challenges faced by travelers in finding affordable and reliable accommodations. Ritesh developed an early interest in technology and business. He was captivated by the potential of the internet and learned himself programming.

Career

“Oravel Stays” is an Airbnb-like service that Ritesh Agarwal started in 2011. After being advanced via the Venture Nursery program in 2012, Ritesh Agarwal’s business was awarded a US$100,000 grant as one of the 2013 Thiel Fellowship winners. In May 2013, the business was founded as OYO Rooms. The company raised $1 billion by September 2018. According to reports, Ritesh Agarwal tripled his ownership of the company in July 2019 by buying US$2 billion worth of shares.He was listed among Asia’s Forbes 30 Under 30. Ritesh Agarwal was the youngest “Shark” to make an appearance on Shark Tank India in 2023.

Ritesh Agarwal remained in charge of OYO Rooms in 2024 as the company expanded on its achievements the year before. The business concentrated on growing its footprint in important foreign areas, especially in the US, UK, Southeast Asia, and the Nordic nations, where it had experienced rapid expansion. Ritesh Agarwal also gained notoriety for his forecast that, during the next five years, spiritual tourism would play a major role in propelling India’s travel sector. Data demonstrating a 70% increase in reservations for sacred locations like Ayodhya on New Year’s Eve, surpassing well-known tourist sites like Goa and Nainital, corroborated his observations.

Appearance

  • Meeting with Elon Musk: Ritesh Agarwal was a member of a group of Indian business executives that Elon Musk invited to SpaceX’s Starbase in Texas in January 2025. The group talked about things like interplanetary flight, human civilization, and possible partnerships between the USA and India. A tour of the facility and an observation of a successful Starship launch were part of the visit.
  • Viksit Bharat Young Leaders Dialogue: Ritesh Agarwal took part in the Viksit Bharat Young Leaders Dialogue held at Bharat Mandapam in New Delhi on January 11, 2025. Young leaders gathered at this gathering to talk about India’s progress and hopes for the future.
  • Shark Tank India: In March 2024, Ritesh Agarwal appeared as a guest judge on the popular television show “Shark Tank India.” During his appearance, he shared insights from his entrepreneurial journey and discussed the impact of the show on the startup ecosystem in India.

Profession

Renowned businessman Ritesh Agarwal founded and serves as CEO of the international hotel firm OYO Rooms. He drives innovation in the low-cost lodging industry while overseeing the company’s operations and growth. Renowned for his revolutionary influence on the hotel sector, Ritesh also promotes entrepreneurship and regularly speaks on behalf of OYO at international fora.
According to the company’s annual report, OYO announced its first-ever profit after tax (PAT) of ₹229 crore for the fiscal year 2023–2024 in May 2024. According to the corporation, this follows eight straight quarters with positive adjusted EBITDA. From ₹277 crore in FY23 to ₹877 crore in FY24, OYO’s adjusted EBITDA increased by 215%.

Road to Success
OYO Rooms’ founder and CEO, Ritesh Agarwal, has used creativity, tenacity, and an entrepreneurial spirit to create a multinational hospitality behemoth. His transformation from a young man from a rural town to one of the youngest millionaires in India is both motivational and educational.

  • Early Life and Inspiration
  • Education and Bold Decisions
  • Founding of OYO Rooms
  • Scaling and Expansion
  • Challenges and Resilience
  • Achievements and Recognition
  • Key Traits Behind His Success
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