By Nikhil Cariappa Rohit Kapoor has been appointed the CEO of OYO’s new real estate businesses. Starting 6 December, he will lead the expansion of OYO’s real estate venture, reporting directly to Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes. Before this appointment, Kapoor was the Executive Director & Member of the Board at Max Healthcare. He was a management consultant at McKinsey for 10 years, following which he was appointed the Director & Head of Business Strategy at Religare. OYO is actively looking for opportunities beyond hospitality (both in India and Internationally), and OYO Living, is one step towards this diversification. OYO Living offers homes on rent for young professionals. Further, OYO Hotels is growing internationally, with reports stating that it is looking to add 30,000 rooms a month in the Chinese market. OYO claims to be one of the top 5 hotel franchises in China. OYO Hotels recently appointed former Indigo President Aditya Ghosh as its new CEO for India and South Asia. OYO Financials OYO’s main institutional investor is Softbank, which has invested close to $1 billion dollars in the company. OYO had said in a statement that it would spend a significant chunk of this money in the Chinese market.
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