Not Shimla or Manali: OYO’s Ritesh Agarwal Surprised by Hill Stations and Spiritual Sites Leading New Year Bookings
OYO Rooms’ founder, Ritesh Agarwal, recently revealed a surprising trend in New Year bookings, with lesser-known hill stations and spiritual destinations taking the spotlight. While traditional tourist hubs like Shimla and Manali retained their popularity, destinations such as Coorg and Mussoorie witnessed record-breaking surges in bookings. Additionally, spiritual hotspots like Shirdi and Ajmer saw unprecedented demand, marking a shift in travel preferences.
Hill Stations: The Underdog Triumphs
According to Agarwal, hill stations that are often overshadowed by mainstream destinations have become crowd favorites. Coorg, in Karnataka, recorded a 28-fold increase in bookings, while Mussoorie, in Uttarakhand, experienced a 10-fold surge. Even Dehradun and Srinagar emerged as top choices, reflecting a growing interest in offbeat and serene locations.
Dehradun & Srinagar (Srinagar is now a 365 day destination) becomes the most booked hill station, but the underdogs are stealing the show!
— Ritesh Agarwal (@riteshagar) December 31, 2024
Coorg’s has witnessed a 28x 🤯 surge this New Year and Mussoorie, the surprise contender, isn’t far behind with a 10x rise in bookings.…
Spiritual Destinations on the Rise
Spiritual travel also saw remarkable growth this season. Banaras (Varanasi) emerged as the most popular spiritual destination, with 12,841 bookings. New entries like Ayodhya gained traction, signaling a shift toward culturally and spiritually enriching experiences. Shirdi recorded a 940% jump in bookings, while Ajmer saw a 761% increase, cementing the growing appeal of spiritual tourism.
Record New Year’s Bookings
OYO Rooms reported a 58% increase in global bookings compared to 2023, with over 10 lakh users staying at OYO properties on New Year’s Eve. Late-night traffic spiked by 41% at 2 a.m., showcasing travelers’ last-minute enthusiasm. “It’s clear the world is ready to celebrate,” Agarwal noted, highlighting the platform’s role in enabling seamless travel experiences.
The New Year is off to an incredible start, with over 1.1 million travellers staying with us worldwide this NYE—marking a remarkable 58% increase from 2023, with the addition of Motel 6 and Studio 6 to our family.
— Ritesh Agarwal (@riteshagar) December 31, 2024
It’s clear the world is ready to celebrate, and we’re proud to be… pic.twitter.com/VSwxWeBxbA
Financial Turnaround and Strategic Growth
OYO’s strong booking trends were mirrored by its financial achievements. The company reported a net profit of ₹132 crore in the first quarter of FY25, recovering from a ₹108 crore loss in the same period last year. A key factor behind this growth was the acquisition of G6 Hospitality, valued at $525 million. This move is expected to increase OYO’s EBITDA to over ₹2,000 crore by FY26.
Expanding Horizons in 2025
With its focus on diverse travel experiences, OYO continues to expand its global footprint, opening a hotel every 2-3 days. As travel preferences evolve, the company is well-positioned to meet the demands of both leisure and spiritual travelers, making 2025 a promising year for OYO’s growth.
