Hospitality technology company OYO has initiated a process to rename its parent firm, Oravel Stays, as it prepares for a potential initial public offering (IPO) and shifts focus toward more premium offerings.
OYO founder Ritesh Agarwal has invited the public to suggest a new corporate name through social media. According to individuals familiar with the matter, the selected name may also be used for a new app the company is developing to cater to the premium hotel segment.
In a post shared on Thursday, Agarwal clarified that the name change pertains only to the parent company and not to the existing hotel chain or consumer-facing platforms. He stated that the goal is to create a global corporate identity that reflects innovation and modern living, with roots in India.
“We’re renaming the corporate brand behind it all—not the hotel chain, not a consumer product—but the parent company powering a global ecosystem of urban innovation and modern living,” Agarwal said.
The company is seeking a one-word name that is globally relevant, culturally neutral, technology-oriented, and scalable beyond the hospitality sector. Agarwal also noted that the ideal name should come with an available .com domain. A reward of Rs 3 lakh and a meeting with him have been offered for the selected entry.
PTI earlier reported that OYO has arranged for five investment banks to present to its major investor, SoftBank, at the latter’s London office in June. The outcome of this presentation could play a significant role in shaping the company’s IPO trajectory, which it is targeting for the final quarter of the current fiscal year.
OYO is also reportedly exploring the launch of a dedicated app for premium and mid-market company-serviced hotels. Sources indicated that the new corporate name may ultimately be used for this app as well, given the segment’s growth in both domestic and international markets.
