OYO announces new appointment to board of directors

OYO Hotels and Homes has announced the appointment of Aditya Ghosh to its board of directors. Ghosh is currently CEO of the India and South Asia arm of the hotels and homes business. He will be joining Ritesh Agarwal, founder and CEO of the hotel group, and Betsy Atkins, founder and CEO of Baja Corporation. He will also join leading industry experts such as Munish Varma, managing partner at SoftBank Vision Fund, Bejul Somaia, partner at Lightspeed India Partners Advisors and Mohit Bhatnagar, managing director at Sequoia Capital India Advisor. OYO said that the new appointments create a “powerful, diverse, and truly global combination”. News of the appointment follows the instatement of Betsy Atkins as independent director, and the group says that the two additions to the board “will both tremendously benefit the company”. It also follows Ghosh’s completion of one year in the company, during which time he took the hotels and homes business in India and South Asia to “greater heights”, implementing several programs to strengthen operating metrics and customer experience. The asset owner community doubled from 5500 to 18,000 hotels during this time. He will now focus on will focus on five key areas: Safety and security; customer experience; corporate governance: revenue management and Stakeholder communications. He hopes to evolve the business 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.'' Agarwal 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.” Ghosh said: “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. “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.” He added: “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.”

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