IPO Bound OYO forays into agri stays post successful pilot in Gujarat
- ByTejika Bajaj | December 25, 2021
IPO-bound hospitality major OYO has ventured into agri stays, after a successful pilot in Kevadia, Gujarat. The startup will now focus on rural tourism, with the aim to bank on infra in the form of hotels, homestays and agri-stays.
In a series of tweets, OYO founder Ritesh Agarwal said, “Rural Tourism led by agri-home-stays will create additional sources of income for our farmers, which is an opportunity waiting to be unlocked to its true potential. OYO recently piloted such agri-farm stays in homes in Kevadia, Gujarat, which has garnered positive feedback from both guests & farmers. We hope with the government’s encouragement, support from industry peers, we can also help start such stays in other parts of the country.”
Agarwal, in a series of tweets, said the hospitality unicorn had recently piloted such agri-farm stays in homes in Kevadia and Gujarat, which garnered positive feedback from both guests and farmers.
Agarwal added that prioritising rural tourism will create additional sources of income for farmers.
He further stated that rural tourism led by agri-home-stays is an opportunity “waiting to be unlocked to its true potential” as it will create additional sources of income for the country’s farmers.
The global agritourism market size was valued at $42.5 Bn in 2019 and is estimated to reach $63 Bn by 2027. Thus investing in this segment would not only allow OYO to expand its product offerings but also augment its growth owing to the projected increase in market value of the segment.
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