OYO Rooms a Threat: Cyrus Mistry

Indian Hotels Company (IHCL) chairman Cyrus Mistry has reportedly said that OYO Rooms, a Budget hotel aggregator, is posing a threat to the oldest player in the industry. Mistry was speaking at the 115th annual general meeting of the company, where he cautioned shareholders about the 5-year-old startup started by 22-year-old Ritesh Agarwal, that offers rooms for Rs 1,200-5,500 in all major cities.