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.