16:07 (GMT +7) - Wednesday 21/08/2019

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OYO Hotels and Homes appoints CEO for Southeast Asia & Middle East

Released at: 06:19, 11/08/2019

OYO Hotels and Homes appoints CEO for Southeast Asia & Middle East

Photo: OYO

Dr. Mandar Vaidya to lead two of the most important regions for franchised hotel chain.

by Khanh Chi

OYO Hotels and Homes, the world’s third-largest and fastest-growing chain of leased and franchised hotels, homes, and living spaces, has announced the appointment of Dr. Mandar Vaidya as CEO for Southeast Asia and the Middle East from August 1.

The appointment comes as part of the company’s efforts to continue to invest in and attract world-class leadership as part of its ongoing focus on driving accelerated growth in two of its high potential markets - Southeast Asia and the Middle East.

A seasoned professional with over 15 years of experience, Dr. Vaidya will be responsible for driving business growth for OYO in the two regions, which include Indonesia, Malaysia, the Philippines, Vietnam, the UAE, and Saudi Arabia. The company has already committed over $200 million in investment in Southeast Asia, which will help fuel 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 real estate owners around the world, giving them the ability to get a higher return on investment, access easy financing opportunities, transform their hotels, and offer good quality customer services, thereby significantly increasing occupancy and profitability in every OYO building.

There are over 23,000 such buildings worldwide, with 1,500-plus being in Southeast Asia and the Middle East. For customers, OYO started with a belief that everyone deserves a beautifully-designed, chic, and comfortable living space. And everyone deserves a better life. The company has been committed to changing the way people live and has done that by upgrading unbranded hotels into great quality living spaces and offering them at affordable prices in the best locations around the world.

“We are thrilled to welcome Dr. Vaidya to the OYO family as he takes charge of strengthening our presence in Southeast Asia and the Middle East,” said Mr. Ritesh Agarwal, Founder and CEO of OYO Hotels and Homes. “He exhibits the true characteristics of an OYOpreneur and has a problem-solving attitude that is necessary as we move towards our goal of transforming the global hospitality landscape.”

“These two markets are crucial to our international expansion strategy and in a brief period of time we have delivered a high-quality accommodation experience to guests in Indonesia, Malaysia, the Philippines, Vietnam, the UAE and Saudi Arabia. Under Dr. Vaidya’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 was working at McKinsey and Co. for 15 years, from 2002 to 2017, mostly in India and with stints in Singapore and the UK. He was a partner at Mckinsey and led the health services practice in India and the hospitals practice for Asia. His work was focused on operations - both hospitals and pharmaceutical companies - and health policy. He also led the Delhi office of McKinsey for four years.

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