OYO Rebrands Parent Company as PRISM to Drive Global Expansion and Growth

In order to better represent its enlarged worldwide portfolio and long-term vision, Oravel Stays Ltd., the parent company of the lodging chain OYO, relaunched itself as PRISM.

On September 7, the firm declared that the OYO brand would remain its primary consumer-facing identity in the low-cost hospitality sector. OYO was founded in 2012 by Ritesh Agarwal and began as an Indian low-cost hotel aggregator before growing into a multinational travel technology and hospitality conglomerate.

With services including hotels, holiday rentals, long-term stays, co-working spaces, and event spaces, the company now serves over 100 million clients in 35+ countries.

OYO Adopting New Business Strategies

With names including Sunday, Palette, and Townhouse in premium hospitality; Belvilla and DanCenter in vacation homes; Studio 6 in extended stays; and Innov8 and Weddingz.in in workplaces and celebration venues, OYO is rebranding as it seeks to position itself beyond low-cost lodging. In 2023, OYO expanded its presence in North America by acquiring G6 Hospitality, a US-based company that operates Motel 6 and Studio 6.

The move to PRISM, according to Founder and Group CEO Ritesh Agarwal, signifies the creation of a corporate architecture that is fit for the future and will help us match our growing portfolio with our long-term goals. PRISM is driven by a robust technological engine, increased investments in AI and data science, and a dedication to assisting company’s partners in making a profit while satisfying customers throughout the globe.

According to the company, the new identity aims to highlight its technological foundation while bringing its many offers together.

Why OYO is Rebranding to PRISM?

According to the firm, a global naming competition with over 6,000 proposals led to the selection of the name PRISM. The makeover is the first significant change to OYO’s corporate identity since its inception, highlighting the company’s intention to move away from its reputation as a pure-play low-cost hotel aggregator and towards becoming a more comprehensive worldwide hospitality and travel technology platform.

OYO’s IPO Plans and Financial Goals

This occurs as the business, valued at $7-8 billion, prepares to submit its Draft Red Herring Prospectus (DRHP) in November. OYO submitted and refiled its draft papers with the Securities and Exchange Board of India (SEBI) in 2021 in an attempt to collect INR 8,430 crore through an IPO.

As the firm prepares for a renewed initial public offering (IPO) later this year, the corporate rebranding comes at a critical juncture to emphasise its transformation from a low-cost hotel aggregator into a diverse global hospitality and travel-tech platform.