Ankit Gupta promoted to CEO, India at OYO
OYO, a worldwide travel technology business, has promoted the former CEO of Hotels and Homes- India to the CEO, India.Rohit Kapoor has been elevated from his present position as CEO of India and Southeast Asia to a global role as its marketing head. Ankit Tandon, the company's Global Chief Business Officer, will also take on the additional duty of Southeast Asia as its CEO, with a focus on Indonesia and the Middle East region.
From April 1, Kapoor, Tandon, and Gupta will assume their new roles. All three executives will report to Ritesh Agarwal, the company's founder and CEO. In his new role, Kapoor will work to transform OYO's brand identity into a more aspirational and well-liked consumer-tech brand, as well as boost its affinity with strategically critical customer segments including family and the value proposition for OYO's core demographic of SMB customers and millennials.
In his new role, Kapoor will work to transform OYO's brand identity into a more inspirational and well-received consumer-tech brand, as well as boost its rapport with strategically critical customer segments including family and the value proposition for OYO's core demographic of SMB customers and millennials.
Kapoor will also concentrate on introducing the OYO brand to the company's European vacation homes division, which currently utilizes numerous brands across the various North European nations in which it operates. Kapoor has been key in revamping the INSEA business during Covid's difficult era in his current position as CEO Of INSEA. Over the previous two years, Kapoor has been instrumental in OYO's business model transformation, which has resulted in the company's contribution margins increasing from 5% to 18%.
Tandon has been assigned to one of OYO's main territories, SouthEast Asia, which focuses on the high-growth markets of Indonesia and Malaysia, as well as other East Asian and Middle Eastern countries that he previously led in conjunction with Amit Gupta. As a result, according to the announcement, Ankit's role would be expanded to CEO - SEA and ME. Tandon's job as Chief Business Officer, where he has been instrumental in strategic initiatives such as M&A and Business Performance Management, will enable this.
As the travel sector recovers, Gupta's new responsibility will be to focus on increasing OYO India's business.
"Rohit has proven to be a wonderful asset for OYO," stated Ritesh Agarwal, Founder and Group CEO of OYO. He added “He has a proven track record of revitalising and improving every business unit he has overseen for the organisation. Through his remarkable first-principles approach and thorough grasp of OYO as a business operator, we will be relying on him to improve brand and marketing”.
Ankit Tandon will provide momentum to the high-potential SEA market as it emerges from the Covid-induced lockdowns. Agarwal continued, " I am convinced that, with his background in founding and developing several business components at OYO, such as our mid-segment hotels business, he will offer considerable value to what we believe is one of OYO's most important regions."
Ankit Gupta has been important in building OYO's business, including our flagship mid-market brand, OYO Townhouse, which our clients like. I am convinced that he would accelerate OYO's growth in India and propel it to new heights. In their new jobs, I am looking forward to working closely with all three," Agarwal added.
"I have always been renewed by taking on new possibilities, typically in areas less covered by me," Rohit Kapoor, Global CMO, OYO, remarked. The task of sharpening OYO's brand and marketing function and winning our customers' hearts and minds is probably the most exciting role I've ever had, because it will allow me to "build one of the rare oxymoronic aspirational-budget brands not just in India, but across multiple regions around the world, each of which has a different cultural context in how they will interact with the brand."
I have witnessed the organisation evolve for the last seven years and am delighted to have been one of the early members," said Ankit Tandon, OYO's CEO for Southeast Asia and the Middle East. “Several roles over the years have shaped my leadership skills, including building important portfolios, including OYO's mid-segment hotels business with brands like OYO Townhouse, building the operations capability stack, and leading the Global Programme Management Office (GPMO) to deliver several high-impact projects for OYO."
In my new role, I'm looking forward to working with the SEA & ME team and all of our executives to execute this year's plan and position the market for great development in the years ahead," Tandon said "My two-year career at OYO has been immensely enriching, as we have altered ourselves to emerge successfully from the pandemic," Ankit Gupta, India CEO of OYO, stated. Our commitment to provide a unique customer and patron experience has allowed us to become even more innovative in the ecosystem, thanks to our deep focus on tech-enabled innovation. I'm looking forward to working with the OYO India team in the future to achieve high-profit growth."