Oyo has been battered by lot of bad press in recent weeks, from news about massive job cuts to investor’s reported concerns over company’s ballooning losses.
But on Tuesday Oyo and its talismanic founder & CEO Ritesh Agrawal got much needed word of encouragement from none other than US President Donald Trump.
On the last day of his maiden India visit, Trump met the bigwigs from the Indian corporate world. 26 year old Agrawal’s presence among the likes of Tata, Birla and Ambani may have made the US president to raise his eyebrows.
Eventually Trump could not help but shower some well deserve praise on the young entrepreneur and his hospitality company.
According to Business Today, after Agrawal introduced his company Oyo to the US President, Trump responded “not such a small company, by the way good job.”
The outspoken President reportedly informed Agrawal that he already knew about his company.
Trump, who himself owns a real estate empire, did not praise Oyo without a reason. After all, the SoftBank backed company has made a substantial investment in the US. The Gurgaon based hospitality major operates nearly 313 hotels in the United States.
Last year, Oyo bought Hooters casino hotel in Las Vegas for whopping $135 Mn, marking company’s first major investment in the U.S.