OYO appoints Ankit Gupta as COO for India and South Asia

OYO has announced the appointment of Ankit Gupta as Chief Operating Officer (COO) & SVP - Frontier Businesses for India and South Asia. In August, the company had elevated Gaurav Ajmera as Chief Operating Officer (COO) for the same regions.

Following the appointment, Gupta would be responsible for looking after the company's frontier businesses which will comprise of OYO self-operated hotels (OYO Townhouse, Collection O, SilverKey), student housing and co-living, and OYO Home businesses.

Before joining OYO, Gupta was globally leading McKinsey's real estate transformation practice and was the co-leader of the company's Indian sales & marketing service line for more than 14 years.

Importantly, this appointment is being considered as a part of the company’s efforts to continue to invest in and attract world-class leadership and drive its innovation and growth as per an Economic Times report.

The development comes on the backdrop of elevation of Aditya Ghosh as the company's board member. The Gurugram-based company had also named Rohit Kapoor as the new CEO, India and South Asia for Hotels & Homes.

Meanwhile, OYO is planning to lay off over 500 employees across functions. According to Entrackr's sources, over 400 employees across the partner-facing experience team and business development functions will lose their jobs.

OYO has around 10,000 to 12,000 employees on its payroll in India.