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OYO elevates Aditya Ghosh to the board; announces Rohit Kapoor as the new CEO

Tuesday, December 3, 2019, 10:00 Hrs  [IST]
HBI Staff | Mumbai

Oyo Hotels & Homes has announced the elevation and addition of Aditya Ghosh, presently CEO, India & South Asia for the hotels and homes business to the company’s board of directors. Ghosh will be succeeded by Rohit Kapoor, who was heading Oyo’s New Real Estate businesses as CEO. Ghosh is joining Ritesh Agarwal, Founder & Group CEO, OYO Hotels & Homes, Betsy Atkins, Founder & CEO, Baja Corporation and other industry experts like Munish Varma, Managing Partner, SoftBank Vision Fund, Bejul Somaia, Partner, Lightspeed India Partners Advisors, Mohit Bhatnagar, Managing Director, Sequoia Capital India Advisor among others, making it a powerful, diverse, and truly global combination.

OYO has continuously been investing in further strengthening its corporate governance. The recent appointment of independent director, Betsy Atkins on the Board, who earlier invested in Yahoo and eBay and now Aditya, who hails with a depth of experience in running successful public companies, will both tremendously benefit the company. Aditya’s elevation and addition to a strong group of Board members comes after his successful completion of one year in the company. During this time, he took the hotels and homes business in India & South Asia to greater heights and implemented several programs to strengthen operating metrics and customer experience thereby more than doubling the asset owner community from 5500+ to 18000+ hotels in a short span of time. In his new role at the board, Aditya will provide strength of governance and leadership as OYO evolves into a truly global high performing company that scales sustainably on the path to profitability with higher expectations from consumers, asset owners, investors and employees. Aditya will focus on five key areas namely, Safety and security, Customer experience, Corporate Governance, Revenue Management and Stakeholder communications.

Reflecting on the development, Ritesh Agarwal, Founder & Group CEO, OYO Hotels & Homes said, “Aditya’s strong business acumen, problem solving capabilities, passion for building an organization with strong corporate governance and a high performing work culture that thrives on principles of diversity and inclusion, makes him the perfect choice for this larger and more strategic role, at a global level. I am certain that this decision will greatly help OYO achieve its goals, globally.  Like always, we are blessed to have leaders like Aditya who continuously step-up to bigger roles to ensure the company derives benefits from their wealth of experience in such a critical juncture of not just growth, but principled growth for the company. His learnings will be invaluable for all of us.”

Aditya Ghosh, newly appointed board member, further stated, “I am thankful to the Board for inviting me into the august group to further build OYO as a global brand to reckon with, by not just growing fast, but growing right. You may have heard me repeat this past year, that one of the biggest characteristics about OYO is the opportunity that we have to create a truly global brand out of India - one that is recognised and respected the world over for positively impacting the lives of thousands of employees, creating millions of economic opportunities as well as delighting millions of guests with hospitality experiences across multiple price-points. The opportunity is all this and more, as we aim to set new standards of corporate governance and build a sustainable business at scale, with a clear path to profitability. I am, therefore, excited and keen to play a larger role and harness my experience in helping a public company operate well and ascribe to high standards of sustainable growth. I hope to actively impact the ability of this 20,000+ OYOpreneurs strong organisation, around the world, to achieve its mission and work with some of the sharpest minds across various industries who are part of OYO’s venerable board, to guide the company, as it delivers against its values and promises to all stakeholders.”

OYO has also announced the appointment of Rohit Kapoor, the current CEO, New Real Estate Businesses as the CEO for the entire India and South Asia business. Over the last year, Rohit has been overseeing the growth of OYO LIFE - the brand’s long-term rental housing portfolio as well as other new real estate businesses in India. Rohit’s remit will now also span the operations of over 18000+ hotels across 500+ cities in India SA.

Rohit Kapoor, newly appointed CEO of OYO Hotels & Homes, added, “This is a great opportunity as well as a humbling responsibility and I thank Ritesh and Aditya for the trust and confidence placed in me. Given the impressive performance of the hotels’ business in India and South Asia, I do have some big shoes to fill. I will do my best and Aditya has promised to be my guiding light in the process. In the last one year, the performance delivered, has been tremendous in not just scaling operations across 500 cities and 18000+ hotels but also delivering on sustainable growth with financial prudence. I look forward to working with Aditya & Ritesh during the transition period and also working with each one of the 10,000+ strong OYOpreneur community in India & South Asia as we lead  by example and set new standards of excellence for OYO and the hospitality industry at large.”

Ritesh, further added,“I congratulate Aditya for being a great thought partner and look forward to his continued support and guidance to OYO and its leadership team. I am also excited to announce the appointment of Rohit Kapoor as the CEO of the entire India & SA business. Rohit has been with OYO now for over a year now, and in the last 12+ months, he has worked closely with me on various strategic initiatives across businesses. I am certain that OYO India & South Asia will continue to grow from strength to strength under his able leadership.”

 
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