Tuesday 10 December 2019 4:00 pm

Indian hotel chain Oyo appoints new UK boss

Oyo has announced Rishabh Gupta as the new head of its operations in the UK as the fast-growing hotel Indian chain seeks to grow its offering in the country.

Gupta will take over from current UK head Jeremy Sanders, who is leaving the company to spend more time with his family. Gupta previously led Oyo’s Indonesian division.

Read more: Another dog for Softbank as it sells Wag stake back to company

Founded by Ritesh Agarwal in 2013, Oyo has secured $1.7bn (£1.3bn) funding from investors including Softbank’s Vision Fund and Airbnb. 

Oyo claims to be the world’s third largest hotel chain by room count, and aims to be the largest by 2023. 

The tech-driven chain, which focuses on small budget hotels, has built a portfolio of 200 UK hotels in the past year, with 5000 rooms across 50 towns and cities.

Softbank led a $1bn funding round into Oyo in September last year, which valued the company at $5bn.

The chain secured its first major international acquisition in May, purchasing Dutch property management business @Leisure for €369.5m.

Read more: London luxury hotel market booms as weak sterling attracts tourists

“We are sad to say goodbye to Jeremy after an exciting year of UK expansion,” said an Oyo spokesperson.

“Under Rishabh’s leadership, we look forward to continuing Oyo’s growth in the UK in 2020 and for the long-term,” they said.