Damaging the Indian hotel and tourism industry!
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Can you recommend me for a proof reading job doc?
“The main issue for all the protests is that OYO has been the non payment of dues, which hoteliers allege has been going on since January 2119.”
I have yet to understand that why :
Big = Arrogance
Whether it’s oyo or any other big company , they are arrogant .
I would like to bring another narrative.
Ritesh used to sell Simcard(international calling cad).
Then he started Orgel holidays.
Evivo, UK based company which launched Front desk. Ritesh got an Indian version made and approached may home stay guys, to try to integrate their IT. He did not have much success.
He then created On your ownself(OYO), he started hotels within within hotels, starting with 2 rooms in hotels. He was present on ground in each initial hotels, starting from Gurgaon, while doing branding for the rooms.
Nikesh Arora, had a personal reputation with Ritesh for his simplicity, which took the project off.
Ritesh had many IITan friends, which brought a tech angle.
Hotel industry is like hospital industry. It’s complex. Metric is, “Maine 10 room banaya, Paisa kitna aaya”.
First, it was fine, then he brought soap, and many other things and started charging for silly things. Small hoteliers Did not have much legal ideas about professionally crafted legal contracts.
He brought many hotel stalwarts into the fold. But when “couple friendly” thing started, most left, because that’s not a game most hoteliers like. “Launda laundi wale room” as they say in North got most of his hotel industry guys out (p1)
When business models do not make a WIN-WIN to all the stakeholders, then this is what happens ultimately…
The engagement model should be beneficial to partners (both parties involved in the business) and the end user.
If any of the stakeholders is not getting their values then the engagement is bound to break…
Isn’t it similar with OLA, FLIPKART and Zomato??
Is it like a big player built over dead bodies of their early supporters??
Or
They fails to fulfill the expectations of early supporters so they start protesting??
Wonder if they will try the same stunt in US.
Not necessarily.
OyO filled a gap small/medium category hotel where the infrastructure is owner themselves (motel/Papa Mama kind).
Close to CBD was plus.
They should have continued to serve in ethenic places (pilgrimage) and should have kept service.
Their failure is in terms of adherence T&C to hoteliers. Instead of jargons, simple customer service would have great.
User (guests) always have complain.
Now they have lost support of hotliers.
Holiday Inn with cutting corners.
It’s unsustainable model , but greed and technology bubble. created by soft bank and others responsible. Same thing happened in Rajkot. Why hoteliers will complain if they are happy? Sometimes too much technology is not needed to live happily. I love checkin hotels and interacting at reception. The smile, welcome greetings , we humans need. As we are humans!
Companies Such as OYO, OLA, UBER, WEWORK and many more are building a business model which are based on existing business model but only thing is that they are tweaking their business model according to their needs and not the customers need. There’s nothing bad in tweaking a business model but it should be beneficial for the company and the customers.
Startups have entangled themselves into the valuation game, they have to overcome this first inorder to make their business profitable.
It’s another bomb ticking to blow up.
Excactly, its valuation/ greed game . Imagine companies losing millions and billions, are valued in billions, with. No profits on horizon for years, 400,+ unicorns only 7% hardly and rarely profitable!
Dr Aniruddha Malpani yes it is, 100 times and absolutely it is.
My question is, does many care about culture?
Many investors who rejected me is because “you are too idealistic, perfectionist, people centric and not money centric”.
When I say you have to handpick first twenty, not for their skill, but for their culture and hunger, people mocks me.
When another founder say “go for growth, select only people who cares money”, that also is mocked.
Those who wants to build meaningful, clean companies with Charter are mocked for their charter, one whose charter is money is mocked for it.
Ideology first, money next takes time. Are there many who is willing to be patient for this period? ?
Some of his financial dealings appear murckey. He is young, may make mistake like Napstar. Nobody complained when he made money for people. Shouldn’t the seniors have come forward to guide him?
Even I criticise him, because that’s easy to do. But when I see that been having opposite ideology, we both are mocked for our respective beliefs, it makes me to question the validity of criticism, even my own.
Missed out the so called technology aggregators (Transport, Entertainment, Food delivery).
In the name of technology and convenience they attract respective line of business owners.
These aggregators don’t invest or own anything but boasting through their APP and put lot of conditions (form of agreement).
When the end customer ran into difficulties (any disputes) getting a standard answer as we just provided the technology platform expected to check with the respective business entity.
They are middlemen (agent/broker) like any other business and do not have much sensitivity to understand the pain of the business owner as well as the end customer.
I think it’s right time to grab the market
The OYO model to acquire contracts before truly assessing brand worthiness tells me that they haven’t put in much thought on the brand value. A name does not make a brand!! And for that matter neither does their unicorn status!!
Is this all true. Time for OYO to respond
Oyo has lost the plot, too early too fast! Customers are not happy too.
Hotel industry is already damaged… Constant falling ARRs , other Hotels are competing against not only Oyo hotels, but Oyo Homes, Oyo Apartments, Oyo Guest Houses , Spot-On (another Oyo brand) etc.
One more – OYO blocks accounts of its users who write about their bad practices on social media.
Partners unhappy, Customers unhappy, Guess who is happy?
BS.
Dr Aniruddha Malpani 10x 100x funding doesn’t seem to allow anything but hyper growth
Few years back when I read it,I thought, this will be a breaking news in major news papers. All concerned got busy saluting the rising(?) Sun of Entrepreneurship.
Nothing will change. Breach of trust is called ‘smart’. World of business is strange.
Great educational institutions call him as guest speaker show Character means nothing, characteristic of success is be Ruthless, control, disregard team spirit. & survive to sell the story of (un)fair(l)y) victory. Behind great fortune: there is a crime. Names change, story same as always.
I believe it’s another We Work in the making. The mistake Soft Bank is doing is that they think that Ali Baba success can be repeated by just expanding. However it was quality of services along with scale which made Ali Baba a financial success. With We work and OYO they just talk about the ‘charishma’ of founders. There has to be more to the company than just speaking at conferences
Absolutely. If I were authorized to undo anything it is this start-up.
My take on Softbank s approach to many that are now turning out to be spectacular flops is that the focus was on buying out a market. That is like saying dictatorship , once established, pays dividend.
However, the instinct is democracy. In democracy this foolish approach of grow first then earn will flop.
All the WeWorks , Oyo s , and rest of the #softbank spectacular flops will continue to gain funding from the #softbank s of this world as everyone wants to show they knew what they were doing.
National Company Law Tribunal is the specialized tribunal for such corporate debt and recoveries.
They are highly fast, efficient and zero tolerant to such debts.
Efficient disposal in 6 months.
Let’s not stick to these stereotyped perceptions.
Thanks Anudeep. Care to proofread?
Oyo in this scenario is a corporate debtor who is bound to pay. If we go by traditional courts, it will take decades.
NCLT is a specialized court constituted under the Companies Act, 2013 for such debts. It has the power to declare OYO insolvent in case of failure.
It takes around six months to dispose off, and In my opinion, it’s better than being threatened and not being paid since Jan.
We all are registered under Companies act, but how many of us really know about NCLT?
Link: info about NCLT https://en.wikipedia.org/wiki/National_Company_Law_Tribunal
Anudeep Singh Oyo has rich and powerful lawyers to protect them! And their contracts are very cleverly drafted, so they can shaft hotel owners with impunity. They have created a schism between the hotel owners by playing favourites, and it’s this lack of unity which is hurting hotel owners
Ratan Bhardwaj their silence is deafening! Why don’t you check into an OYO hotel and share your experiences on your channel. Would be an interesting sting operation as a mystery shopper ?
Dr Aniruddha Malpani true Sir, this thing can’t be ruled out.
Also, big companies always have contracts enclined towards them.
But, I have personally seen big companies, like Indiabulls, being warned to be investigated, if they fail to settle the dispute, due to such contracts.
So true, only only 7% of so called unicorns out of 400+ hardly and rarely makes profit ! But without proving foundres are billionaires ! Common sense exists$
Can you recommend me for a proof reading job doc?
“The main issue for all the protests is that OYO has been the non payment of dues, which hoteliers allege has been going on since January 2119.”
I have yet to understand that why :
Big = Arrogance
Whether it’s oyo or any other big company , they are arrogant .
I would like to bring another narrative.
Ritesh used to sell Simcard(international calling cad).
Then he started Orgel holidays.
Evivo, UK based company which launched Front desk. Ritesh got an Indian version made and approached may home stay guys, to try to integrate their IT. He did not have much success.
He then created On your ownself(OYO), he started hotels within within hotels, starting with 2 rooms in hotels. He was present on ground in each initial hotels, starting from Gurgaon, while doing branding for the rooms.
Nikesh Arora, had a personal reputation with Ritesh for his simplicity, which took the project off.
Ritesh had many IITan friends, which brought a tech angle.
Hotel industry is like hospital industry. It’s complex. Metric is, “Maine 10 room banaya, Paisa kitna aaya”.
First, it was fine, then he brought soap, and many other things and started charging for silly things. Small hoteliers Did not have much legal ideas about professionally crafted legal contracts.
He brought many hotel stalwarts into the fold. But when “couple friendly” thing started, most left, because that’s not a game most hoteliers like. “Launda laundi wale room” as they say in North got most of his hotel industry guys out (p1)
When business models do not make a WIN-WIN to all the stakeholders, then this is what happens ultimately…
The engagement model should be beneficial to partners (both parties involved in the business) and the end user.
If any of the stakeholders is not getting their values then the engagement is bound to break…
Isn’t it similar with OLA, FLIPKART and Zomato??
Is it like a big player built over dead bodies of their early supporters??
Or
They fails to fulfill the expectations of early supporters so they start protesting??
Wonder if they will try the same stunt in US.
Not necessarily.
OyO filled a gap small/medium category hotel where the infrastructure is owner themselves (motel/Papa Mama kind).
Close to CBD was plus.
They should have continued to serve in ethenic places (pilgrimage) and should have kept service.
Their failure is in terms of adherence T&C to hoteliers. Instead of jargons, simple customer service would have great.
User (guests) always have complain.
Now they have lost support of hotliers.
Holiday Inn with cutting corners.
It’s unsustainable model , but greed and technology bubble. created by soft bank and others responsible. Same thing happened in Rajkot. Why hoteliers will complain if they are happy? Sometimes too much technology is not needed to live happily. I love checkin hotels and interacting at reception. The smile, welcome greetings , we humans need. As we are humans!
Companies Such as OYO, OLA, UBER, WEWORK and many more are building a business model which are based on existing business model but only thing is that they are tweaking their business model according to their needs and not the customers need. There’s nothing bad in tweaking a business model but it should be beneficial for the company and the customers.
Startups have entangled themselves into the valuation game, they have to overcome this first inorder to make their business profitable.
It’s another bomb ticking to blow up.
Excactly, its valuation/ greed game . Imagine companies losing millions and billions, are valued in billions, with. No profits on horizon for years, 400,+ unicorns only 7% hardly and rarely profitable!
Dr Aniruddha Malpani yes it is, 100 times and absolutely it is.
My question is, does many care about culture?
Many investors who rejected me is because “you are too idealistic, perfectionist, people centric and not money centric”.
When I say you have to handpick first twenty, not for their skill, but for their culture and hunger, people mocks me.
When another founder say “go for growth, select only people who cares money”, that also is mocked.
Those who wants to build meaningful, clean companies with Charter are mocked for their charter, one whose charter is money is mocked for it.
Ideology first, money next takes time. Are there many who is willing to be patient for this period? ?
Some of his financial dealings appear murckey. He is young, may make mistake like Napstar. Nobody complained when he made money for people. Shouldn’t the seniors have come forward to guide him?
Even I criticise him, because that’s easy to do. But when I see that been having opposite ideology, we both are mocked for our respective beliefs, it makes me to question the validity of criticism, even my own.
Missed out the so called technology aggregators (Transport, Entertainment, Food delivery).
In the name of technology and convenience they attract respective line of business owners.
These aggregators don’t invest or own anything but boasting through their APP and put lot of conditions (form of agreement).
When the end customer ran into difficulties (any disputes) getting a standard answer as we just provided the technology platform expected to check with the respective business entity.
They are middlemen (agent/broker) like any other business and do not have much sensitivity to understand the pain of the business owner as well as the end customer.
I think it’s right time to grab the market
The OYO model to acquire contracts before truly assessing brand worthiness tells me that they haven’t put in much thought on the brand value. A name does not make a brand!! And for that matter neither does their unicorn status!!
Is this all true. Time for OYO to respond
Oyo has lost the plot, too early too fast! Customers are not happy too.
Hotel industry is already damaged… Constant falling ARRs , other Hotels are competing against not only Oyo hotels, but Oyo Homes, Oyo Apartments, Oyo Guest Houses , Spot-On (another Oyo brand) etc.
One more – OYO blocks accounts of its users who write about their bad practices on social media.
Partners unhappy, Customers unhappy, Guess who is happy?
BS.
It seems nothing has changed much after this:
https://www.livemint.com/Companies/7CN7u5d4i3bfYgBAZLdLpM/Will-the-real-Ritesh-Agarwal-please-stand-up.html
Dr Aniruddha Malpani 10x 100x funding doesn’t seem to allow anything but hyper growth
Few years back when I read it,I thought, this will be a breaking news in major news papers. All concerned got busy saluting the rising(?) Sun of Entrepreneurship.
Nothing will change. Breach of trust is called ‘smart’. World of business is strange.
Great educational institutions call him as guest speaker show Character means nothing, characteristic of success is be Ruthless, control, disregard team spirit. & survive to sell the story of (un)fair(l)y) victory. Behind great fortune: there is a crime. Names change, story same as always.
I believe it’s another We Work in the making. The mistake Soft Bank is doing is that they think that Ali Baba success can be repeated by just expanding. However it was quality of services along with scale which made Ali Baba a financial success. With We work and OYO they just talk about the ‘charishma’ of founders. There has to be more to the company than just speaking at conferences
Absolutely. If I were authorized to undo anything it is this start-up.
My take on Softbank s approach to many that are now turning out to be spectacular flops is that the focus was on buying out a market. That is like saying dictatorship , once established, pays dividend.
However, the instinct is democracy. In democracy this foolish approach of grow first then earn will flop.
All the WeWorks , Oyo s , and rest of the #softbank spectacular flops will continue to gain funding from the #softbank s of this world as everyone wants to show they knew what they were doing.
National Company Law Tribunal is the specialized tribunal for such corporate debt and recoveries.
They are highly fast, efficient and zero tolerant to such debts.
Efficient disposal in 6 months.
Let’s not stick to these stereotyped perceptions.
Thanks Anudeep. Care to proofread?
Oyo in this scenario is a corporate debtor who is bound to pay. If we go by traditional courts, it will take decades.
NCLT is a specialized court constituted under the Companies Act, 2013 for such debts. It has the power to declare OYO insolvent in case of failure.
It takes around six months to dispose off, and In my opinion, it’s better than being threatened and not being paid since Jan.
We all are registered under Companies act, but how many of us really know about NCLT?
Link: info about NCLT https://en.wikipedia.org/wiki/National_Company_Law_Tribunal
Anudeep Singh Oyo has rich and powerful lawyers to protect them! And their contracts are very cleverly drafted, so they can shaft hotel owners with impunity. They have created a schism between the hotel owners by playing favourites, and it’s this lack of unity which is hurting hotel owners
Ratan Bhardwaj their silence is deafening! Why don’t you check into an OYO hotel and share your experiences on your channel. Would be an interesting sting operation as a mystery shopper ?
Dr Aniruddha Malpani true Sir, this thing can’t be ruled out.
Also, big companies always have contracts enclined towards them.
But, I have personally seen big companies, like Indiabulls, being warned to be investigated, if they fail to settle the dispute, due to such contracts.
Dr Aniruddha Malpani Adding one more issue may not make any difference, provided we are sceptical about the authenticity of scores and scores of people saying the same thing. And even if that could be doubted, the strikes by hotel operators is real. It comes in news also. Here is one such
https://www.ndtv.com/india-news/why-some-indian-hotels-are-saying-not-welcome-to-oyo-rooms-2113066
https://timesofindia.indiatimes.com/city/kochi/small-medium-city-hotels-on-two-day-strike/articleshow/69949312.cms
https://www.hindustantimes.com/business-news/why-some-indian-hotels-are-checking-out-of-oyo/story-nRMidBfHOWz0r07Zya3tYL.html
The issue is real, and grave.
So true, only only 7% of so called unicorns out of 400+ hardly and rarely makes profit ! But without proving foundres are billionaires ! Common sense exists$