We are happy to announce the elevation of Ankit Gupta to Chief Executive Officer, Franchise & Frontier – India. As a part of his expanded responsibilities, Ankit will be leading our flagship Hotels & Homes business as well as other verticals. Ankit has been instrumental in significantly strengthening OYO’s India business over the last two years. He will continue reporting to Rohit Kapoor, CEO, OYO India & South-East Asia.
Ankit will focus on key areas of the business including revenue growth, patron trust, consumer experience and delivering on key business metrics through technology and business innovation for India, which is one of the core growth regions for us at OYO.
His vast experience in the last 16 years, including as a tenured partner in McKinsey & Co, in driving revenue growth, profitability, and better consumer experience across sectors has come handy during his stint with us.
Rohit Kapoor, Chief Executive Officer, OYO INSEA said, “At OYO, we have always worked towards nurturing meritocracy across levels and are proud to have diversified leaders. Ankit is very committed towards building OYO for the long term, and has extremely high levels of ownership. His inspiring leadership during the pandemic has helped OYO balance several priorities towards our customers, patrons and colleagues and respond to the crisis with agility. With this change all the regional teams in India, as well as the region’s dedicated supply and revenue teams will report to Ankit. In his enhanced role, Ankit will focus on the company’s core strengths in the region and capitalize on the green shoots of recovery.”
Commenting on his elevation, Ankit Gupta, Chief Executive Officer – Franchise & Frontier, OYO India, said, “I am deeply humbled and honoured by this expanded leadership opportunity which Ritesh and Rohit have entrusted me with. My journey at OYO has been incredibly enriching and full of learnings, enabled by the distinctive talent across levels within the company. Our focus on leveraging products and technology in improving business outcomes, and our focus on core growth markets has helped us emerge even stronger from the challenges created by the COVID-19 pandemic. I have immense conviction in OYO’s mission to deliver a distinctive customer experience while ensuring that we help our patrons increase their revenues and business experience . As we move forward, I am excited to take on this larger leadership role and create a robust foundation for future growth.”
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About OYO
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases revenue and eases operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate the hotel and home storefronts across India, Europe, and Southeast Asia and 35 countries. For more information, visit www.oyorooms.com.
Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.