- OYO has appointed Gaurav Ajmera as the Chief Operating Officer for India and South Asia.
- It appointed Mandar Vaidya as its Chief Executive Officer for South-East Asia and the Middle East
In the last two days, OYO has seen the inclusion of experienced leaders in its kitty.
Hospitality Firm on Tuesday announced that it has appointed Gaurav Ajmera as the Chief Operating Officer for India and South Asia.
With more than 10 years of experience, Gaurav will be instrumental in the growing business of OYO in South Asia, the company said in a statement.
The company further added that he will be reporting to the Chief Executive Officer for India and South Asia, Aditya Ghosh.
“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.
An alumnus from the prestigious Indian Institute of Technology, Delhi, Gaurav holds a B.Tech and M.Tech degree in Chemical Engineering.
Gaurav had a successful stint with Schlumberger working across various nations in a variety of roles in the Middle East, gaining experience in project management and operations.
On Wednesday, the SoftBank-backed hospitality firm announced Mandar Vaidya as its Chief Executive Officer for South-East Asia and the Middle East
As per the company-issued statement, Vaidya’s role has started from August 1 and is the latest inclusion in the top leadership roles over the last 12 months.
Vaidya is a qualified doctor and holds an MBA degree from the prestigious Jamnalal Bajaj Institute. He was previously with McKinsey & Co., the world’s largest consultancy and held roles across different terrains including India, Uk & Singapore.
“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.
Vaidya will be responsible for driving business growth for OYO across different markets such as Saudi Arabia, the United Arab Emirates, Vietnam, the Philippines, Singapore, Malaysia, and Indonesia.
The company has committed around $200 million towards the South East Asian region over the next two years to fund its expansion.
OYO has more than 1,260 hotels and 32,600 exclusive rooms under management in South-East Asia and more than 275 hotels and homes with around 8,000 plus rooms in the Middle East.
Recently, OYO recorded a valuation of $10 billion after the founder of the company Ritesh Agarwal bought $2 billion in shares from the venture capital firms Sequoia Capital and Lightspeed Venture Partners.
Started in 2012 by then 18-year-old Ritesh Agarwal, OYO became a unicorn in 2018 with $1 billion fundraisers.
OYO has raised a whopping $1.6 billion in equity funding to date, reaching a valuation of $5 billion at its last funding round. Some other investors in the company include Airbnb, Didi Chuxing and Grab Holdings. OYO is now active in 800 cities in 80 countries.