Ritesh Agarwal says US has become Oyo's biggest market
Oyo's founder Ritesh Agarwal just shared that the US has become Oyo's biggest market, marking a big moment for Indian brands abroad.
At a New York event, he said Indian companies are moving beyond Bollywood and IT, stepping up as global brand owners, showing how India's influence is growing in new ways.
Oyo's $525 million G6 Hospitality acquisition
Agarwal talked about Oyo's $525 million acquisition of G6 Hospitality (parent of Motel 6), making it North America's largest owned-and-operated hotel chain.
He also pointed out the US housing crisis as an area where Oyo aims to help with extended stay options.
Agarwal praised India's startup-friendly government and its close to $2 billion of capital to new startups support for new businesses, calling Prime Minister Modi the "startup Prime Minister."
Plus, Oyo's parent PRISM got approval to raise ₹6,650 crore through an IPO.