Mumbai: In its efforts to continue investing in and attracting world-class leadership, OYO Hotels and Homes has named Dr Mandar Vaidya as CEO for Southeast Asia and the Middle East. The appointment is part of OYO’s ongoing focus to drive accelerated growth in two of its high potential markets.
Dr Vaidya would be responsible for driving business growth for OYO in these two regions, which include markets such as Indonesia, Malaysia, the Philippines, Vietnam, UAE, and the Kingdom of Saudi Arabia. The company has already committed over 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.
Before joining OYO, Dr Vaidya was working at McKinsey and Co. for 15 years from 2002 to 2017, mostly in India with stints in Singapore and the UK. At Mckinsey, he was a partner 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. Subsequently, Dr Vaidya was on sabbatical for the last two years.
Dr Vaidya said the company today is synonymous with quality stays and innovation, and is driven by passionate individuals who are working towards a mission.
“I am thrilled to be a part of this ecosystem and shaping the company’s future in Southeast Asia and the Middle East, which are critical growth markets for the company. 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,” he added.
Meanwhile, OYO’s founder and CEO Ritesh Agarwal said Dr Vaidya exhibits true characteristics of an OYOpreneur and has a problem-solving attitude which is necessary as it moves towards its goal of transforming the global hospitality landscape. OYO looks forward to establishing a strong relationship with asset owners in these regions under Dr Vaidya’s leadership, while staying true to its mission of delivering a chic hospitality experience at hard-to-ignore prices.
Last month, the company ventured into six cities in Vietnam, committing more than US$50 million over the next few years in Vietnam, with the mission of transforming the country’s hospitality landscape and creating quality affordable accommodations.