OYO appoints Mandar Vaidya as CEO for Southeast Asia and the Middle East
Before joining OYO, Vaidya was working at McKinsey and Co. for 15 years, from 2002 to 2017, mostly in India with stints in Singapore and the UK
OYO Hotels and Homes has announced the appointment of Mandar Vaidya as the Chief Executive Officer for Southeast Asia and the Middle East, effective August 1, 2019. The appointment comes as a part of the company’s efforts to continue to invest in and attract world-class leadership, as part of its ongoing focus to drive accelerated growth in two of its high potential markets - Southeast Asia and the Middle East, a statement from the company read.
A seasoned professional with over 15 years of experience, Vaidya would be responsible for driving business growth for OYO in these two regions, which include markets like Indonesia, Malaysia, the Philippines, Vietnam, UAE, and the Kingdom of Saudi Arabia.
The company has already committed over $200 million in investment in Southeast Asia which will help in fuelling its aggressive expansion plans in the region over the next couple of years.
Commenting on the development, Ritesh Agarwal, Founder & CEO, OYO Hotels and Homes, said, ‘’We are thrilled to welcome Mandar to the OYO family as he takes the charge of strengthening OYO’s presence in Southeast Asia and the Middle East. He exhibits true characteristics of an OYOpreneur and has a problem-solving attitude which is necessary as we move towards our goal of transforming the global hospitality landscape. These two markets are crucial to our international expansion strategy and in a brief period of time, we are delivering high-quality accommodation experience to guests in Indonesia, Malaysia, the Philippines, Vietnam, 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, 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. After this long stint, Mandar was on sabbatical for the last two years. He also taught a problem-solving course at Ashoka University's Young India Fellowship program.
Talking about his appointment, Vaidya said, ‘’Today, OYO Hotels and Homes is synonymous with quality stays, 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. 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.’’
Mandar 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 Gynaecology and pursued an MBA from Jamnalal Bajaj Institute, Mumbai.
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