Oyo Rooms - Surviving the Pandemic

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Oyo Rooms - Surviving the Pandemic
Oyo rooms which emerged as an internet
start-up and took India by storm through
its unconventional ideas and liberal
approach towards couples has become a
giant in the Hospitality Industry. By giving
the Indian youth some freedom and a private
space to live their romantic dreams OYO
established very strong roots in the ground of
hospitality. The ongoing pandemic of Covid-19
virus has taken down many industry giants and OYO
is no stranger to its devastating powers.
Before the pandemic struck India hard and
brought its economy down on its knees, OYO was
the Pegasus of Indian hotel industry that caught
a little cold when Covid-19 impact struck the
market down and bleeded out many companies like
it. Nevertheless, as we know that OYO
doesnt know how to give up and back down,
it pushed back the avalanche of economic,
operational and functional disaster and is
constantly trying to get back up while the
COVID-19 waves keep on hitting India and the
world badly. OYO's India business is now EBITDA
positive and the company is earning similar
gross profits globally in dollars since
January 2021 as it did This OYO news is a
relief for the investors and the CEO Ritesh
Agarwal. 'OYO is on a steady path of
resurgence in 2021 and we are seeing signs
of recovery across India, Europe, and
Southeast Asia. OYO's survival through the
Covid crisis and
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our resurgence show that we are a company
with strong fundamentals and high value
potential,' said the firm's founder and Group CEO
Ritesh Agarwal in an e-mail in March. This is a
story opposite to the BigBasket News,
Grofers News which explained how these
grocery delivering companies earned a huge profit
during the pandemic. The pandemic was not all the
same for everyone, some were able to make a
fortune out of it, some were barely able to drag
themselves out of the economic breakdown and
some didnt even live to see the light of
day after the COVID-19 crisis. Covid-19s
impact on Startups was brutal, many crumbled,
went bankrupt or said that they had the money to
survive only for a few days or months and if they
didnt receive any magical help, they will be
doomed and might not get back up on
their feet. Some managed to save themselves
with funding from investors or the government
and some saw a rapid rise in their business.
However, this isnt over so lets brace ourselves
and work together to come out of it unharmed,
healthy and happy.
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