OYO Hotels & Homes, the world’s third largest and fastest-growing chain of leased and franchised hotels, homes and living spaces, announced this week the appointment of Dr. Mandar Vaidya as chief executive officer (CEO) for Southeast Asia and the Middle East effective Aug. 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.
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.”
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.
(Press Release/Ardent Communications)