OYO appoints Rohit Kapoor to lead New Real Estate Businesses
OYO Hotels, South Asia’s most significant, one of China’s top five, and the world’s fastest-growing chain of leased and franchised hotels, homes & living spaces, today announced the appointment of Rohit Kapoor, Chief Executive Officer, New Real Estate Businesses, effective December 6, 2018. This appointment comes as a part of the company’s efforts to continue to invest in and attract world-class leadership, to drive innovation and growth in the company.
Commenting on the appointment, Ritesh Agarwal - Founder & Group CEO, OYO Hotels & Homes, said, ‘Over the last five years, we at OYO, have invested in building strong capabilities in the acquisition, renovation, and upgradation of different forms to real estate. This has helped us offer our patrons unique living experiences such as OYO Living, while creating value for our asset owners. Today I am delighted to share with you that we have an industry stalwart, Rohit Kapoor, join us to head the new real estate businesses at OYO, that will further help us strengthen our capabilities and explore newer business avenues. I am excited about working alongside someone with the pedigree and gravitas of Rohit. His diverse background and industry knowledge, his financial expertise, his international experience, and above all his love for design we feel will help us tread newer waters while remaining true to our core mission. His appointment marks the beginning of an exciting new chapter in OYO’s journey.”
Rohit is a proven professional with over 20 years of experience and is entrusted with the responsibility to drive new real estate business opportunities for the company, which will include exploring new domains and categories, and other strategic initiatives. He will also be responsible for growing OYO’s business in India as well as across international markets, through strategic partnerships and investment opportunities. He will be reporting to Ritesh Agarwal, Founder & Group CEO, OYO Hotels & Homes.
“OYO is today already the most preferred brand in the budget to mid-segment hospitality space, where our operational expertise in supply acquisition and management, transformation, operations, revenue management, and distribution, through both offline and online channels, has helped us gain significant momentum. We recently announced our foray into long-term rentals, with the launch of OYO Living, which marks a key milestone as we embark on our journey towards becoming India’s biggest provider of housing, consolidating our position as a category innovator and leader. While we continue to grow our hospitality business, new real estate initiatives such as this will play a key role in driving the next wave of growth at OYO. With Rohit taking on this mantle, we are confident that he will be able to help OYO Hotels & Homes set new benchmarks in the accommodations business and evaluate new opportunities in the real estate industry. Please join me in welcoming Rohit.” added Ritesh.
Before this, Rohit was the Executive Director and a member of the board at Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa. Rohit has had the distinction of being one of the youngest non-promoter Executive Director and board member on any major Max group company. During his stint with Max Healthcare, he is credited with having seeded multiple new businesses ranging from tech-enabled home care, rehab and physio, tele-radiology, retail diagnostics, and emergency response services. He led two significant M&A transactions - acquisition of Pushpanjali Crosslay Hospital and Operating rights for Saket City Hospital - the latter having the potential of creating India's largest private healthcare complex. He also co-led the capital expenditure plan for the organization.
Rohit also served on the board of Antara Senior Living, Max One Distribution and Crossley Remedies. Before this role in Max Healthcare, Rohit was the Group Head for Strategy for the Max India group and part of the group leadership team reporting to the Group Managing Director, where he was involved in creating the Vision 2020 roadmap for the group and turning around performance at several group companies. In addition to this, working directly with the Promoter, Mr. Analjit Singh, he incubated the luxury hotel and wine businesses in South Africa, the company now a global operation named Leeu Collections.
Rohit Kapoor, newly appointed Chief Executive Officer, New Real Estate Businesses, OYO Hotels & Homes, said, “I am amazed by the phenomenal growth OYO Hotels & Homes has witnessed in a short span of about five years. From one property in Gurgaon, to now over 12,000 franchised and leased assets in over 7 countries and 500+ cities, from budget hotels, to its more recent foray into resorts business, and most recently its bold entry into the housing business, makes one thing really clear, this place is the perfect combination of ambition and ability. I’m thrilled to join OYO’s mission of upgrading different forms of real estate and creating unique accommodations experiences, and partner with Ritesh in driving the next wave of growth at OYO. OYO has built an amazing senior leadership team, arguably the finest in the startup ecosystem – it will be an honor and privilege to partner with them.”
Before his stint at Max, Rohit was a consultant with McKinsey & Company for close to a decade. During his tenure with McKinsey, he gained extensive exposure to multiple international markets. Before McKinsey, Rohit has worked in various roles across sales, finance in several companies.
Rohit holds a PGD from Indian School of Business where he was ranked in the top 5 students in the batch and was the recipient of the Young Leader Award which was awarded for best all-around performance in the batch. In addition to the PGD, he is also a certified Chartered Financial Analyst (CFA Institute, USA). He is also a visiting faculty at SP Jain Institute of Management and Research, IMT Ghaziabad and Vedica Scholars.
An angel investor, and a mentor and advisor to several startup founders across industries, Rohit is a thought leader in the digital space and a regular speaker at marquee conferences.
In his personal life, he is fond of all things related to design, is a keen portrait photographer and a fitness enthusiast. In 2017, he bicycled from Manali to Leh, one of the toughest cycling routes anywhere in the world.