OYO has brought Sonal Sinha on board as the Chief Executive Officer of G6 Hospitality the American motel chain it has recently bought from Blackstone Real Estate. The acquisition was completed in December last year and it brought 1,500 franchised hotels in the US and Canada to OYO’s expanding network. On combination, it is projected to achieve a gross booking value of $3 billion, out of which G6 Hospitality, the owner of Motel 6 and Studio 6, is expected to generate $1.7 billion.
OYO said that combining G6’s portfolio of properties with its current network will be synergetic and will help to accelerate the global growth. OYO Founder & Group CEO Ritesh Agarwal applauded Sonal for his skills in steering OYO’s expansion across the country and enhancing operational efficiency. Sonal is a chartered accountant by training and had joined OYO in 2015 and had been the CFO for International Business where he facilitated the implementation of measures to strengthen financial discipline and profitability. He will still be reporting to Gautam Swaroop, the CEO of International business at OYO.
On the other hand, OYO’s Chief Growth Officer Kavikrut is resigning to take up the position of the CEO of T-Hub, which is India’s biggest startup incubator. Ritesh Agarwal thanked Kavikrut for his services, saying that his leadership helped to define OYO’s culture and growth strategies. Even though he will be leaving a great gap, Agarwal is sure that Kavikrut’s new position will be very advantageous for Telangana and the whole Indian startup community.
