● The move
reiterates OYO’s commitment to two of its most important regions—Southeast Asia
and the Middle East.
● Mandar’s
rich experience in management consulting, in particular service operations,
will fuel OYO’s mission of creating quality spaces.
OYO Hotels & Homes, the world’s
third largest and fastest-growing chain of leased and franchised hotels, homes
and living spaces, today announced the appointment of Dr. Mandar Vaidya as
chief executive officer for Southeast Asia and the Middle East effective August
1, 2019. This appointment comes in light of the company’s efforts to continue
to invest in and attract world-class leadership as part of its focus on driving
accelerated growth in two of its high-potential markets—Southeast Asia and the
Middle East.
A seasoned professional with more than 15 years of
experience, Dr. Vaidya will be responsible for driving business growth for OYO
in these two regions, which include markets such as Indonesia, Malaysia, the
Philippines, Vietnam, the UAE and the Kingdom of Saudi Arabia. The company has
committed more than US$200 million in investment in Southeast Asia, which will
help in fueling its aggressive expansion plans in the region over the next
couple of years.
OYO Hotels continues to bring its successful model of
combining design, hospitality and technological expertise, financial acumen and
operational capabilities to hotel owners around the world, enabling them to
achieve a higher return on investments, access easy financing opportunities,
transform their hotels and offer good-quality customer service toward
significantly increasing occupancy and profitability in every OYO building.
There are more than 23,000 of these buildings worldwide, with over 1,500
buildings located in Southeast Asia and the Middle East.
OYO started with the belief that everyone deserves a
beautifully designed and comfortable living space. Committed to changing the
way people live, OYO continues to transform unbranded hotels into quality
living spaces, offering them at affordable prices in the best locations around
the world.
Commenting on the development, Ritesh Agarwal, founder
and CEO of OYO Hotels & Homes, said, ‘’We are thrilled to welcome Mandar to
the OYO family as he takes on the responsibility of strengthening OYO’s
presence in Southeast Asia and the Middle East. He exhibits the true
characteristics of an OYOpreneur and has the problem-solving attitude necessary
to help OYO move toward its goal of transforming the global hospitality
landscape. These two markets are crucial to our international expansion
strategy as we are currently delivering high-quality accommodation experience
to guests in Indonesia, Malaysia, the Philippines, Vietnam, the 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 while staying true to
our mission of delivering a chic hospitality experience at hard-to-ignore
prices. I wish him the best for the journey ahead.’’
Before joining OYO, Dr. Vaidya worked at McKinsey and Co.
for 15 years from 2002 to 2017, where he was a partner and led the health
services practice in India and the hospitals practice for Asia. His work
focused on operations—both hospitals and pharmaceutical companies—and health
policy. He also led the Delhi office of McKinsey for four years. After this
long stint, Mandar went on a sabbatical for two years. He also taught a problem
solving course at Ashoka University's Young India Fellowship program.
Dr. Mandar Vaidya, newly appointed chief executive
officer, OYO Hotels & Homes, Southeast Asia and Middle East, said, ‘’Today,
OYO Hotels & Homes is synonymous with quality stays and innovation, and is
driven by passionate individuals who are working toward a mission. I am
thrilled to be a part of this ecosystem that is shaping the company’s future in
Southeast Asia and the Middle East, which are critical growth markets for the
company. In a short span of six years, OYO has established itself as the
world’s fastest-growing chain of hotels, homes and living spaces while being
the preferred choice of millions of customers and asset owners. I am keen to
work with the best minds in the industry to drive value for every stakeholder
as we come together to create something exciting.’’
Dr. Vaidya is a qualified medical doctor, having
completed his MBBS and internship from Grant Medical College and JJ Hospital in
Mumbai. After a brief stint as a medical officer, he opted out of an MD in
Obstetrics and Gynecology and pursued an MBA at Jamnalal Bajaj Institute, Mumbai.
Today, OYO Hotels & Homes has more than 1,260 hotels
and over 32,600 exclusive rooms under management in Southeast Asia and more
than 275 hotels and homes with over 8,000 exclusive rooms in the Middle East.
The hospitality chain forayed into Southeast Asia in 2016 with its first room
in Malaysia and has grown its presence to more than 125 cities in Indonesia,
the Philippines, Malaysia and Vietnam.
OYO has a strong presence across 10 cities in the
Philippines, including Boracay, Davao and Cebu, with 2,100 rooms in 75 hotels.
With Dr. Vaidya’s appointment, OYO will continue to remain committed to
providing quality service and experience to travelers in the Philippines by
transforming properties across the country.
No comments:
Post a Comment