NEW DELHI: Oyo Hotels & Homes has named Mandar Vaidya as its chief executive officer for South-East Asia and Middle East, the SoftBank-backed hospitality company announced on Wednesday.
According to a company-issued statement, Vaidya’s appointment was effective from August 1, and is the latest in a stream of top leadership announcements by Oyo over the past 12 months., and which have been across regions, including, India, China, Japan and United Kingdom (UK), among others.
Prior to joining Oyo, Vaidya, a qualified medical doctor, and who holds an MBA from Jamnalal Bajaj Institute, was formerly with McKinsey and Co, the world’s largest consultancy, and held roles across geographies, including, India, UK and Singapore, the official statement said.
He will be responsible for driving business growth for Oyo across markets, such as, Indonesia, Malaysia, the Philippines, Vietnam, United Arab Emirates and Saudi Arabia. The company, which has emerged as one of the largest hotel chains globally, has committed $200 million towards the South East Asian region over the next two years, primarily to fund its expansion.
“These two markets are crucial to our international expansion strategy and in a brief period of time, we are delivering high-quality accommodation experience to guests in Indonesia, Malaysia, the Philippines, Vietnam, UAE and the Kingdom of Saudi Arabia. Under Mandar’s leadership, we look forward to establishing a strong relationship with asset owners in these regions,” Ritesh Agarwal, group CEO of Oyo Hotels & Homes, said in a prepared statement.
According to data shared by the company, Oyo has over 1,260 hotels and 32,600 exclusive rooms under management in South-East Asia and over 275 hotels and homes with 8,000-plus exclusive rooms in the Middle East.
(Pic: Mandar Vaidya)
“I am thrilled to be a part of this ecosystem and shaping the company’s future in South-East Asia and the Middle East, which are critical growth markets for the company,” Vaidya said in the press release.
The hospitality chain forayed into South-East Asia in 2016 with Malaysia and has grown its presence to over 125 cities across Indonesia, Philippines, Malaysia, and Vietnam. It aims to add 2 million rooms under management in Southeast Asia by 2025, the official statement said.
The announcement comes a day after Oyo named Gaurav Ajmera as its chief operating officer for its India and South Asia operations.
Ajmera, who’s appointment is effective from May 1, will report to Aditya Ghosh, chief executive of Oyo’s India and South Asian operations, according to a company-issued statement on August 6.
The IIT Delhi alum’s responsibilities will include building and driving capability in revenue management, driving offline sales and overall delivery of excellent customer experience for the core franchise business, the press release stated.
“Gaurav has been with OYO since its initial days and understands the brand ground-up. His incredible insights and experience along with his customer-first and innovation-driven approach make him an excellent choice for this role. His appointment further strengthens OYO’s South Asia leadership that is dedicated and focused towards building the most loved and preferred hospitality brand,” Ghosh said in a prepared statement.
Prior to joining Oyo in 2015, Ajmera, who holds a B.Tech and M.Tech in chemical engineering from IIT Delhi, was with oilfield services giant Schlumberger in the Middle East, and held a variety of roles spread across operations and project management.
“In my new role, I look forward to enabling OYO to continue and excel in its mission of creating quality living spaces across India and South Asia,” he said in the official statement.
Ghosh, the former president at IndiGo, India’s largest domestic air carrier, had joined the SoftBank-backed company in November last year. Oyo currently operates over 10,000 properties, with over 200,000 rooms under management, spread across 300-plus cities.