Martin HP Söderström joins OYO as investor, appointed director of European Vacation Homes biz

Hospitality firm OYO on Monday said Founder and Chairman of DIG Investment Martin HP Sderstrm has joined the company as an investor and has been appointed as a non-executive director in the European Vacation Homes business.Sderstrm has joined the European business of OYO Vacation Homes OVH as a non-executive director.

PTI | New Delhi | Updated: 11-01-2021 17:23 IST | Created: 11-01-2021 16:42 IST
Martin HP Söderström joins OYO as investor,  appointed director of European Vacation Homes biz
OYO Image Credit: ANI

Hospitality firm OYO on Monday said Founder and Chairman of DIG Investment Martin HP Söderström has joined the company as an investor and has been appointed as a non-executive director in the European Vacation Homes business.

Söderström has joined the European business of OYO Vacation Homes (OVH) as a non-executive director. ''As a mark of his trust and commitment towards the company, Martin will also be buying shares worth an undisclosed amount in the parent company,'' OYO said in a statement.

OYO's vacation homes business is a large and critical part of its global business, and OYO is committed to investing and growing it.

In recent months, an additional 3,400 homeowners throughout Europe have joined the company adding more than 5,000 homes to the current portfolio, it said.

''As a member of the board, Martin will work closely with the management team of OYO to drive continued and sustainable growth in the company,'' the statement said.

He will provide guidance on potential M&A (Mergers and acquisitions) opportunities and help the organisation build deep strategic partnerships with other leading, EU-based companies and layout its brand positioning strategy as a thought leader in the vacation rental space, it added.

Martin's appointment further signals OYO's commitment towards strengthening its corporate governance globally. The company had earlier appointed Troy Alstead, former COO Starbucks, Gerardo Issac Lopez, Operating Partner at SoftBank Vision Fund, Betsy Atkins, CEO and Founder of Baja Corporation, and W. Steve Albrecht as the members of OYO's Global Board, the statement said.

''For OYO, its customers and homeowners in the EU region, especially in the Nordics, hold immense strategic importance.

''Given Martin's deep understanding of the region and strong business acumen, I am elated to welcome him as an investor and a fellow board member at OYO Europe,'' OYO Hotels & Homes Founder and Group CEO (chief executive officer) Ritesh Agarwal said.

Martin has a proven track record of investing and growing tech-focused businesses in India and globally with immense knowledge about the Asian and global entrepreneurial and investment ecosystem, he added.

''We are positive that his deep experience in M&As and working with high-growth companies will add a lot of value to our growth journey in Europe, both organic and inorganic, and support us in our long-term goal of an IPO,'' Agarwal said.

OYO Vacation Homes (OVH), headquartered in Zurich, is one of the leading vacation rental companies in Europe and part of OYO Hotels & Homes.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

Indigo flight makes emergency landing in Pakistan

A Sharjah-Lucknow IndiGo flight made an emergency landing on Tuesday in Pakistans Karachi after a passenger suffered a medical emergency. According to an official statement by the airline, the passenger was declared dead on arrival in Karac...

Priyanka Gandhi Vadra to address Kisan Mahapanchayat in Meerut on March 7

Congress General Secretary Priyanka Gandhi Vadra will address a Kisan Mahapanchayat in Uttar Pradeshs Meerut on March 7, to highlight the issues being faced by farmers. This will be the fifth Kisan Mahapanchayat in the region.The Congress P...

Lok Sabha, Rajya Sabha channels merged into Sansad TV

Lok Sabha and Rajya Sabha TV channels have been merged into one channel- Sansad television.Retired IAS officer Ravi Capoor has been appointed the Chief Executive Officer of the channel for a period of one year with immediate effect, or unti...

Senate vetting Biden's choice for SEC head amid stock drama

President Joe Bidens choice to head the Securities and Exchange Commission is coming before a Senate panel for his confirmation hearing at a moment when a roiling stock-trading drama has spurred clamour for tighter regulation of Wall Street...

Give Feedback