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OYO launches European holiday brand DanCenter in India

EntrackrEntrackr · 8m ago
OYO launches European holiday brand DanCenter in India
Medial

Oravel, the parent company of hospitality firm OYO, has launched its European holiday home brand, DanCenter, in the Indian market. Known for its vacation home management across Europe, DanCenter's debut in India began with luxurious villas in Siolim, North Goa. Dancenter was acquired by OYO Vacation Homes in 2019. Since then, the company has expanded its presence in Europe significantly. Founded in Denmark in 1957, DanCenter has over six decades of expertise in the holiday home rental industry, managing a diverse portfolio of 12,000 properties across Denmark, Sweden, Norway, and Germany. The new 3BHK villas in Siolim, North Goa, offer a private and comfortable stay with services like a chef on call, housekeeping, booking assistance, local activities, mixology lessons, and BBQ on request. The brand is committed to launching only newly constructed properties in India, ensuring a premium experience for its guests.

PRISM announces top-level reshuffle to boost international growth

EntrackrEntrackr · 12d ago
PRISM announces top-level reshuffle to boost international growth
Medial

PRISM, the parent company of OYO, has announced a leadership realignment aimed at strengthening its global operations and expanding across key markets. Ankit Tandon, currently CEO of OYO Vacation Homes, has been promoted to Chief Operating Officer of PRISM and CEO, Europe. In his expanded role, he will oversee PRISM’s global business performance, including brands such as Belvilla, DanCenter, and Sunday Hotels. Tandon will also manage operations across Europe, the UK, and the US, which includes G6 Hospitality, the parent company of Motel 6 and Studio 6. He will continue to lead the Vacation Homes business, including CheckMyGuest in France and MadeComfy in Australia. Varun Jain, earlier COO for India, has been appointed COO for Asia. His expanded mandate covers India and the SEAME region (Southeast Asia and the Middle East). He will also oversee Traum Ferienwohnungen in Germany. Within India, Innov8 and Weddingz will report to him, supported by Pankhuri Sakhuja and Nitin Gupta. Shreerang Godbole will continue as Chief Service Officer, leading customer experience and operations across PRISM businesses. He will also manage operations for DanCenter and MadeComfy. Shirish Damani has been appointed COO for Europe Homes & Hotels. He will work closely with Ankit Tandon to drive supply, revenue, and margins across key European brands, while continuing to lead global M&A efforts. Meanwhile, Gautam Swaroop, who led PRISM International and Traum Ferienwohnungen, is exiting to pursue new technology-led ventures but will continue to advise the company. The leadership changes come soon after the rebranding of OYO’s parent company as PRISM. PRISM operates OYO and a portfolio of hospitality and living brands across 35 countries, serving over 100 million customers globally. According to the company’s annual report for FY25, OYO recorded a profit after tax (PAT) of over Rs 200 crore in Q1 FY26, a sharp rise from Rs 87 crore in the same quarter last year.

OYO posts over Rs 200 Cr profit in Q1 FY26; rebrands parent as PRISM Life

EntrackrEntrackr · 1m ago
OYO posts over Rs 200 Cr profit in Q1 FY26; rebrands parent as PRISM Life
Medial

OYO posts over Rs 200 Cr profit in Q1 FY26; rebrands parent as PRISM Life As per the company’s annual report 2024-25, OYO clocked a profit after tax (PAT) of over Rs 200 crore in Q1 FY26, a sharp jump from Rs 87 crore in the same quarter last year. Oravel Stays Limited, which operates OYO, kicked off FY26 on a strong note with profits more than doubling in the first quarter of the ongoing fiscal year. The report further highlighted that the company achieved an EBITDA of Rs 550 crore during the quarter, while revenues surged 47% year-on-year to Rs 2,019 crore. Its gross booking value (GBV) grew 144% YoY to Rs 7,227 crore, reflecting strong recovery and demand momentum across markets. Alongside the financials, the company’s board has also cleared a 1:1 bonus share issuance for existing shareholders. For the full year FY25, OYO reported a consolidated revenue of Rs 6,252.8 crore, 16% more than the previous fiscal, with an EBITDA of Rs 1,100 crore, and a consolidated PAT of Rs 2,448 crore. Its GBV for the year stood at Rs 16,250 crore, growing 53% year-on-year. In a strategic move to sharpen its identity as a lifestyle and hospitality tech conglomerate, Oravel Stays has introduced a new parent brand PRISM Life (shortened as PRISM). The new identity will act as the corporate umbrella housing OYO and its other premium brands such as Belvilla, Palette, Clubhouse, and Sunday Hotels. The Gurugram-based company has also been pushing premiumisation while expanding globally. In FY25, it deepened its footprint in the US through the acquisition of Motel 6 and Studio 6, and scaled its home business under Belvilla, Dancenter, and CheckMyGuest in Europe. By March 2025, OYO’s portfolio included over 120,000 vacation homes and 21,000 hotels across more than 35 countries. Founder and chairman Ritesh Agarwal said in his letter to shareholders that the long-term goal is to transform the group into one of the world’s leading lifestyle companies under PRISM, leveraging technology, AI-driven revenue management, and diversified hospitality brands.

HotelYaari Secures $2.18 Million in Seed Funding from Alios Ventures for Fractional Ownership of Holiday Homes

Business BytesBusiness Bytes · 2y ago
HotelYaari Secures $2.18 Million in Seed Funding from Alios Ventures for Fractional Ownership of Holiday Homes
Medial

HotelYaari, a startup specializing in fractional ownership of holiday homes, has secured $2.18 million in seed funding from Alios Ventures. The funding will support HotelYaari's mission to revolutionize the way people experience holiday home ownership. The company offers a cost-effective and hassle-free alternative to traditional second-home ownership through fractional ownership opportunities. The funding, disbursed in three tranches over the next three quarters, will aid HotelYaari's expansion plans to widen its portfolio of holiday homes and enhance its technology infrastructure. This investment reflects the growing interest in alternative real estate investment models.

OYO strengthens top leadership with five elevations

EntrackrEntrackr · 1y ago
OYO strengthens top leadership with five elevations
Medial

OYO has strengthened its leadership team with five key appointments. Sonal Sinha has been named Chief Operating Officer – International, while Rachit Srivastava steps into the role of Chief Operating Officer for OYO Vacation Homes (OVH) in Europe. Shashank Jain has been promoted to Head of Technology and Online Revenue. Pankhuri Sakhuja will lead Traum-Ferienwohnungen, OYO’s listings business in Germany, as well as the flex-space business Innov8. Lastly, Ashish Bajpai has taken on the role of Head of Revenue and Global OTA. OYO highlighted that these leadership appointments demonstrate its dedication to innovation as it works to broaden its global presence. The company is focused on expanding its range of hotels and vacation homes across different price points, thereby enhancing its market reach and operational efficiency. OYO asserts that it has played a substantial role in the country’s growing startup ecosystem, with over 60 former employees successfully launching their own startups after their time with the company. In August, OYO officially appointed Sumer Juneja as a non-executive director. The Ritesh Agarwal-led firm recently announced the acquisition of G6 Hospitality, the operator of Motel 6 and Studio 6, for $525 million in an all-cash transaction. For the fiscal year ending March 2024, OYO reported revenue of Rs 5,389 crore and a profit of Rs 230 crore, a significant turnaround from a loss of Rs 1,286 crore in FY23.

Home decor brand Ritualistic raises $1 Mn

EntrackrEntrackr · 7m ago
Home decor brand Ritualistic raises $1 Mn
Medial

Snippets Home decor brand Ritualistic raises $1 Mn Home décor brand Ritualistic has raised $1 million in a mix of secondary and primary funding from Deep Bajaj and Mohit Bajaj. The fresh funds will be used to expand product lines, enhance distribution channels, and invest in marketing efforts, Ritualistic said in a press release. Co-founded in 2018 by Shashank Jain and Neha Jain, Ritualistic is a home décor brand rooted in Indian culture and traditions. From handcrafted wall plates to spiritual essentials, the brand offers a diverse range of products designed to elevate spaces and celebrate heritage. The Gurugram-based company offers a unique product range that includes wall plates, cultural décor, and ritual essentials. The brand aims to preserve Indian heritage while catering to the tastes of today’s consumers. Ritualistic aspires to celebrate Indian traditions through unique and meaningful products. The company plans to reach more homes and hearts and inspire people to rediscover the beauty of Indian craftsmanship. Ritualistic claims that it has already carved a niche in selling premium and unique home décor products. In a few years, the brand boasts a loyal customer base across over 250 major cities in India and several other countries. Ritualistic plans to explore collaborations with temples, museums, and cultural organizations to deepen its reach.

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