Agri-stays To Be OYO's Next Focus, says Ritesh Agarwal

Ritesh Agarwal, the founder of hospitality unicorn OYO, has stated that creating additional hotels, homestays, and agri-stays in rural areas will be a crucial opportunity to be unlocked. 

Agarwal said in a series of tweets that OYO has recently piloted such agri-farm stays in homes in Kevadia and Gujarat, which received great response from both guests and farmers. "We hope that with the government's encouragement and assistance from industry colleagues, we can also help launch similar stays in other regions of the country," he added. 

Prioritizing rural tourism, he claims, will generate additional revenue for farmers. "Developing more infrastructure in the form of hotels, homestays, and agri-stays will be a crucial opportunity. Rural tourism, headed by agri-homestays, would provide additional income for our farmers, which is an opportunity waiting to be unlocked to its true potential," he said. 

He also complimented the Prime Minister's Office for organizing the ideas exchange event with representatives from India Inc. "It was energizing listening to PM's vision of podium finish for India. I truly believe that Indian startups will lead in this endeavor as they have demonstrated this year," he said. 

Meanwhile, Oravel Stays Pvt Ltd, which operates Oyo Hotels and Homes, filed for an initial public offering (IPO) of Rs.8430 crore ($1.1 billion) in October of this year.  The issue consisted of a primary capital raise of around ₹7,000 crore with other investors selling ₹1,430 crore worth of shares. 

Agriculture is the backbone of the Indian economy, and agritourism is one of the most recent ideas to transform the Indian tourism business. 

Farmstays (basically a homestay on a farm) are exploding across India, owing to the increased popularity of homestays. In the delightfully fresh country air, they provide a real and engaging experience of rural life. These farmstays range from modest to sublime and are among the best in India.