Oyo Invites Name Suggestions for Parent Company Ahead of IPO

• Oyo founder Ritesh Agarwal has called for public suggestions to rename Oravel Stays.
• The new name to be initiated globally with relevant and versatile appeal used for a new premium hotel app.
• Oyo is set to present its strategy to SoftBank in June and may launch the rebranded premium app later this fiscal year.

Oyo's Founder Ritesh Agarwal has called for name suggestions for Oravel Stays, the parent company in a strategic move as the global travel technology platform gears up for its IPO and aims to introduce more premium offerings.   There is a strong likelihood that the name selected from this initiative could be used for the premium hotel app that Oyo is planning to unveil soon, according to the report.  Agarwal reached out on social media to solicit name ideas to help establish a "new identity."

"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. We believe it's time the world had a new kind of global brand - born in India, but built for the world",  he said.

Agarwal mentioned that the company name should be a striking, single-word choice, possessing a global essence that isn't associated with a specific culture or language, and should convey a modern, cutting-edge image while remaining approachable and easy to remember, with the potential to expand beyond the hospitality sector, ideally with an available .com domain.

According to the sources, Oyo has enlisted five investment banks to provide an important presentation to its primary investor SoftBank in June at their office on Grosvenor Street in London, which could significantly influence the company's strategy for going public as it plans for an IPO in the final quarter of the current fiscal year.

According to the report, "Oyo is actively exploring launching a separate app for its premium hotels and mid-market to premium company-serviced hotels as the segment has seen exponential growth across India as well as its global markets. There is a very high possibility that the name being selected may end up being the name of the premium hotels app that Oyo has been working to launch in near future”.

Oyo founder Ritesh Agarwal has called for public suggestions to rename Oravel Stays, the parent company, as it prepares for its IPO and premium offerings.
The new name should be a single, globally relevant word with a modern, versatile appeal and potential use for a new premium hotel app.
Oyo is set to present its strategy to SoftBank in June and may launch the rebranded premium app later this fiscal year.