PM Modi inaugurates Gujarat’s first houseboat built by hospitality unicorn OYO

Prime Minister Narendra Modi on Tuesday inaugurated hospitality firm OYO’s Ekta houseboat which is located on the Sardar Sarovar dam in the Ekta Nagar district of Gujarat. The houseboat, a first in Gujarat, is located near the Statue of Unity, which receives more than 10,000 tourists every day.

It took more than 90 days and a team of more than 30 carpenters and painters to complete the houseboat. In addition, the houseboat’s design and interiors have been inspired by several sources, OYO’s Group CEO, Ritesh Agarwal said.

“This statue symbolises unity in diversity which is the hallmark of Indian culture. Our houseboat, too, represents the same. Its design is inspired by the houseboats in Srinagar which are known globally for their unique experience. There are visible signs of Moroccan and Gujarati cultures in the designing of the houseboats. With Rajwadi & Sankheda furniture and lots of delectable food, the houseboat creates a true Gujarati experience,” Agarwal added.

Users who are looking to stay in the houseboat can book it through the OYO app or by logging on to OYO’s website. 

This effort is in line with the Gujarat government and PM Modi’s vision to make the Statue of Unity one of the world’s most popular tourist destinations.

The property can be utilised for parties and corporate functions. It has several facilities including television, WiFi, bluetooth-compatible mics, standing speakers, and more.

The IPO-bound company revived its stock market listing plans this year. Two months ago, the company filed an addendum to its Draft Red Herring Prospectus submitted to the Securities and Exchange Board of India (SEBI) in September last year.

The company's proposed issue comprised a fresh issue of equity shares aggregating up to Rs 7,000 crore and an offer for sale to the tune of Rs 1,430 crore, as per its DRHP. The unicorn which was founded in 2012 by Ritesh Agarwal is preparing to make its debut on the stock market in 2023, according to a Bloomberg report.

Currently, it operates through 157,000 hotels and storefronts in 35 countries across India, Europe, and Southeast Asia.