As a customer, I find OYO hotels to be very bad. There are hotels that I otherwise would not even have gone to (since low end hotels in India are appallingly filthy), but the OYO label lends them greater credibility.
I avoid OYO when I can.
A general thumb rule I follow for booking hotels in India is : if you are staying with family, go for hotels priced around or more than 40-50% of the price of the top end chain hotels in that city. For example, in Delhi, try not to book any hotel priced below Rs. 3500 per night. Chances are high that it may be cockroach-infested and grimy. Many of these now have the dreaded OYO label attached to them.
As a counterpoint, I've been happy with Oyo hotels. I've stayed in Oyo hotels in Kerala, Gujarat, Delhi, Mumbai and Bihar and of them were decent. The only trouble I've had on one occasion was locating the hotel.
TripAdvisor ratings are very indicative and the portal usually shows prices from various booking sites. Then I call the hotel directly and 90% of time I get a better price and a room of choice guaranteed right them which is not at all possible over booking sites where you get a room type and get assigned one when you check-in. Definitely direct booking when the property is on AirBnb - in this case almost always owners themselves ask me to book directly with them and bypass AirBnb.
You are bang on about the cost threshold.
Pro-tip: for real hotel locations use Google Maps in satellite mode. Esp. useful in hill stations and beaches - you'll avoid hotels that claim to have a view but forget to mention it's the bus-stand view.
>As a customer, I find OYO hotels to be very bad. There are hotels that I otherwise would not even have gone to (since low end hotels in India are appallingly filthy), but the OYO label lends them greater credibility.
If that was the case, then everyone would use them only one time, and never again. And they would tell all their friends, who would never even try it once. And the whole POYO enterprise would have gone bankrupt within a year of its founding.
But that's not what happened, so I tend to believe that OYO recommendtions are in fact reliable, except in rare cases.
Franchises are wonderful when you are in expansion phase--especially if you have a nicely banked war chest (which this company does because of the VC backing).
The test of a franchise is when it is in stable or contraction phase.
That's when you find out if it's a business or a pyramid scheme.
The article paints a terrible picture of a guy who has embraced the - fake it, till you make it mantra. Lied about Thiel scholarship, best selling books and even screwing his partners.
OYO has made convenient finding hotels and making confirmed reservations in hotels in small town india. Also since all payments are billed by OYO and not the hotel, the hotel cannot fleece you like charging more for a foreign national. They also have a convenient functional app.
I'm so tired of seeing articles like this. WHO CARES? Nothing about this story is repeatable. It deludes the masses in terms of real prospects of starting a business. The headline alone is just clickbait. It's completely unfair, as it robs desperate people of a reality check. I wish I could downvote this.
What do you want? A cut and paste ready business plan that will make you a billionaire?
Of course there is plenty here that is repeatable: Keep your eyes open for opportunities, when you spot one work really hard at it and do not give up until you have exhausted every option. These ingredients are also present in just about every other success story.
The fact that you do not see anything of value here is the heart of the problem, you could ask any entrepreneur out there that was ever moderately or more than moderately successful what made it work for them and you are likely going to hear a mix of very few elements:
- a good idea
- some luck
- good old elbow grease
- perseverance
- connections
You may have to weigh them differently on a case-by-case basis but that is a pretty good starting point.
The funny, or disturbing, thing about this is the baby boomer generation actually believes this shit. Not sure if it's because they grew up trusting the media or what.
They don't see all the smoke and mirrors associated with "success" now days.
It's never about being a better person, helping other people or making the world a better place. It's always about how much money you make which defines your success.
There's approximately 50,000 children mining minerals in unsafe underground conditions instead of going to school. If you want a harder problem to solve than making 5M, then solve that.
Nothing is Repeatable? You could repeat everything he's doing somewhere else like Africa or South America and call it YOY. The better question is: what can you learn from other people's successes and failures?
I saw three things I didn't know, off the top of my head:
1) India/China have a demand for budget travel that's clean because apparently there wasn't enough supply?
2) There is still apparently global demand because they're expanding. So, you could go copy what they're doing somewhere else.
3) His success started with a booking app?
As for the title, sure, but it's just a copy of the article title which is pretty SOP on HN.
He found a niche in the market with demand that lacked supply and filled the gap. Go find a niche.
So I'm going to draw a quick parallel here since I think that's the best way to explain my line of thought.
Consider someone who plays a lot of fighting games professionally. They might start off with a 20-30% WR, but as they become more skilled they might reach 40, 50, 60% and so forth. If you lose a match the only thing you're out of is a little bit of time.
To draw a comparison to startups: What is the percent of startups that are successful? 5%? 10%? If we consider how much money and time you might lose by investing into a startup I would argue that many people may only get one or two shots at it. However if you manage to be moderately successful with your first shot, you have a lot more wriggle room to grow as an entrepreneur.
The heart of what I'm getting at is that I really think luck and timing is how people first find success. Which while it's nice to believe that anyone could make a successful startup the cost of failure is immense. Survivorship bias means we only see the people that are successful, especially because their successes beget more successes and more publicity. Someone earlier brought up the counterpoint that 'there are entrepreneurs that have had multiple successes therefore luck can't be involved' and my only thought was that 'maybe those early successes or safety nets allows for the dampening of bad luck'.
> It's completely unfair, as it robs desperate people of a reality check.
How is writing an article unfair? How exactly does it rob anyone of anything? What possible reality check is given by not having this article?
Every single business is unique and everyone's situation is different. There's no shortcut other than just doing it, and there's always plenty to learn from every story, including this one. Failure is part of the game, and I'd much rather have people be inspired to attempt it, and have a few succeed, than nobody try at all.
Many of today’s successful entrepreneurs would not have taken the leap if it weren’t for the mythology generated by the example of previously successful entrepreneurs.
This is a key driver of innovation and allows the startup method to spread. You're right that desperate people need a reality check, but competent, ambitious people also need a roadmap.
Why do you think the article is aspirational? It is Bloomberg: the point of the article is to tell people about the business and the fundraising. Both are newsworthy and useful for the target audience (investors, not you). It is like buying a Toyota and then complaining because it isn't a Ferrari.
Imagine if we lived in a society where these stories were about housing startups, not hotel startups. Food production startups instead of food packaging startups. Public infrastructure projects instead of scooter renting apps. Actual creation of wealth and value added to the economy instead of endless insipid rent-seeking, shuffling value around from middleman to middleman until one of them figures out a more efficient way to extract.
Some people look at societal improvements as byproducts of increased wealth generation. In other words, me getting rich is good for the world, presuming I am not cheating/robbing someone else in the process. Although, apparently that's an optional ethical boundary for some.
[+] [-] sn41|7 years ago|reply
I avoid OYO when I can.
A general thumb rule I follow for booking hotels in India is : if you are staying with family, go for hotels priced around or more than 40-50% of the price of the top end chain hotels in that city. For example, in Delhi, try not to book any hotel priced below Rs. 3500 per night. Chances are high that it may be cockroach-infested and grimy. Many of these now have the dreaded OYO label attached to them.
[+] [-] unmole|7 years ago|reply
[+] [-] balladeer|7 years ago|reply
You are bang on about the cost threshold.
Pro-tip: for real hotel locations use Google Maps in satellite mode. Esp. useful in hill stations and beaches - you'll avoid hotels that claim to have a view but forget to mention it's the bus-stand view.
[+] [-] woodandsteel|7 years ago|reply
If that was the case, then everyone would use them only one time, and never again. And they would tell all their friends, who would never even try it once. And the whole POYO enterprise would have gone bankrupt within a year of its founding.
But that's not what happened, so I tend to believe that OYO recommendtions are in fact reliable, except in rare cases.
[+] [-] kamaal|7 years ago|reply
Also there are likely other things going in the hotel, where you don't want your family to stay at the same time.
Basically 'Hotel Decent' kind of ones they show in the move 'Jab We Met'.
[+] [-] bsder|7 years ago|reply
Franchises are wonderful when you are in expansion phase--especially if you have a nicely banked war chest (which this company does because of the VC backing).
The test of a franchise is when it is in stable or contraction phase.
That's when you find out if it's a business or a pyramid scheme.
[+] [-] gniv|7 years ago|reply
TL;DW: Western woman was trapped in the room by hotel employees threatening sexual assault.
[+] [-] thisisit|7 years ago|reply
https://www.livemint.com/Companies/7CN7u5d4i3bfYgBAZLdLpM/Wi...
The article paints a terrible picture of a guy who has embraced the - fake it, till you make it mantra. Lied about Thiel scholarship, best selling books and even screwing his partners.
[+] [-] billfruit|7 years ago|reply
[+] [-] peter303|7 years ago|reply
[+] [-] hangonhn|7 years ago|reply
[+] [-] QuanSai|7 years ago|reply
[+] [-] jacquesm|7 years ago|reply
What do you want? A cut and paste ready business plan that will make you a billionaire?
Of course there is plenty here that is repeatable: Keep your eyes open for opportunities, when you spot one work really hard at it and do not give up until you have exhausted every option. These ingredients are also present in just about every other success story.
The fact that you do not see anything of value here is the heart of the problem, you could ask any entrepreneur out there that was ever moderately or more than moderately successful what made it work for them and you are likely going to hear a mix of very few elements:
- a good idea
- some luck
- good old elbow grease
- perseverance
- connections
You may have to weigh them differently on a case-by-case basis but that is a pretty good starting point.
[+] [-] jarsin|7 years ago|reply
They don't see all the smoke and mirrors associated with "success" now days.
[+] [-] tamrix|7 years ago|reply
There's approximately 50,000 children mining minerals in unsafe underground conditions instead of going to school. If you want a harder problem to solve than making 5M, then solve that.
[+] [-] lgregg|7 years ago|reply
I saw three things I didn't know, off the top of my head:
1) India/China have a demand for budget travel that's clean because apparently there wasn't enough supply? 2) There is still apparently global demand because they're expanding. So, you could go copy what they're doing somewhere else. 3) His success started with a booking app?
As for the title, sure, but it's just a copy of the article title which is pretty SOP on HN.
He found a niche in the market with demand that lacked supply and filled the gap. Go find a niche.
[+] [-] fzeroracer|7 years ago|reply
Consider someone who plays a lot of fighting games professionally. They might start off with a 20-30% WR, but as they become more skilled they might reach 40, 50, 60% and so forth. If you lose a match the only thing you're out of is a little bit of time.
To draw a comparison to startups: What is the percent of startups that are successful? 5%? 10%? If we consider how much money and time you might lose by investing into a startup I would argue that many people may only get one or two shots at it. However if you manage to be moderately successful with your first shot, you have a lot more wriggle room to grow as an entrepreneur.
The heart of what I'm getting at is that I really think luck and timing is how people first find success. Which while it's nice to believe that anyone could make a successful startup the cost of failure is immense. Survivorship bias means we only see the people that are successful, especially because their successes beget more successes and more publicity. Someone earlier brought up the counterpoint that 'there are entrepreneurs that have had multiple successes therefore luck can't be involved' and my only thought was that 'maybe those early successes or safety nets allows for the dampening of bad luck'.
[+] [-] prostoalex|7 years ago|reply
Factually correct, but hardly a recipe for success for the 99% of population.
[+] [-] SlowRobotAhead|7 years ago|reply
[+] [-] manigandham|7 years ago|reply
How is writing an article unfair? How exactly does it rob anyone of anything? What possible reality check is given by not having this article?
Every single business is unique and everyone's situation is different. There's no shortcut other than just doing it, and there's always plenty to learn from every story, including this one. Failure is part of the game, and I'd much rather have people be inspired to attempt it, and have a few succeed, than nobody try at all.
[+] [-] seizethecheese|7 years ago|reply
This is a key driver of innovation and allows the startup method to spread. You're right that desperate people need a reality check, but competent, ambitious people also need a roadmap.
[+] [-] ryandrake|7 years ago|reply
[+] [-] subjectHarold|7 years ago|reply
[+] [-] malmsteen|7 years ago|reply
[deleted]
[+] [-] beautybasics|7 years ago|reply
- They are solving problem differently
- 24 year old scaled a company to $5 billion value
And of course you can downvote.
[+] [-] shnaja|7 years ago|reply
Article on Oyo founder (Ritesh) from 2015 - https://www.livemint.com/Companies/7CN7u5d4i3bfYgBAZLdLpM/Wi...
[+] [-] malmsteen|7 years ago|reply
[deleted]
[+] [-] TuGuQuKu|7 years ago|reply
[+] [-] tcbawo|7 years ago|reply