OYO Hotels reiterates its commitment to the US; Elevates Kas
DALLAS and SAN FRANCISCO, Sept. 10, 2020 /PRNewswire/ -- OYO Hotels, one of the world's leading hotel chains, today announced that Kasra Moshkani has been named as its head of business in the United States. Moshkani, who has overseen OYO's Eastern US business as Region Head since October 2019, will lead the US business, with support from Abhinav Sinha, who will focus more on his role as Global COO of OYO Hotels & Homes. Kasra took on this new role starting September 1, 2020.
In over a year, OYO has established its footprint across 37 states in the US with 300+ hotels and nearly 20,000 rooms. It also operates OYO Hotel & Casino in Las Vegas and OYO Hotel Times Square in New York. The hotel chain is now witnessing slow and steady recovery driven primarily by the Southeast. Utilizing the lockdown period, the company went back to the basics, focusing on its core strengths -- technology, data science, and operational excellence. It's highly focused on localizing its technology, products, and price algorithm for driving successful business for its asset partners and delivering a quality guest experience to travelers. Moshkani's appointment comes as a positive move as OYO reiterates its commitment to the US hospitality industry and chalks its path to recovery in the coming months.
While OYO's US business was significantly impacted by the COVID-19 pandemic - in the form of falling occupancies and revenue - by state and local shutdowns, it has now started recording sustained levels of recovery in the past three months. RevPar* has reached nearly 92% of its pre-COVID levels. The company has also added 8,000+ rooms to its chain in the US since January. OYO's journey on the road to recovery will be led by Moshkani.
Commenting on the development, Abhinav Sinha, Global COO - OYO Hotels & Homes and Operating Partner, OYO US, said, "The US holds immense strategic importance with respect to OYO's global presence. Since launching OYO's unique, tech-driven hospitality in 2019, we have hosted over 1.4 million guests in the country and developed strong partnerships with 300+ asset owners. As we continue that growth, I'm thrilled to announce Kasra Moshkani as the head of OYO's US operations. Kasra has played a valuable role in making OYO a trusted brand offering quality accommodation in the Southeast US and we are confident that under his leadership, we will continue to strengthen OYO's value proposition across the country while developing it as the preferred choice for guests and for hotel partners alike."
An entrepreneur at heart, Kasra holds over 15 years of experience in building companies centered around innovative ideas and has market expertise in general management, operations, strategic planning, corporate finance, and investing. He has an analytical approach toward problem-solving which is also embedded in OYO's DNA as the company offers tech-driven solutions to transform the global hospitality space. His past tenures include Uber Technologies, Grail Partners & Advisors, and MyClean. He also co-founded HireBrite, an HR-tech startup. A native of Miami, Kasra is an alumnus of Harvard University and The University of Chicago Booth School of Business.
Kasra Moshkani, the newly appointed head of OYO US, said, "I am humbled by this opportunity and the trust Abhinav and Ritesh along with OYO's leadership team has placed in me. My work at OYO presents a once in a lifetime opportunity and I am excited to contribute to OYO Hotels' strategy in these challenging times, and enabling the company's long term success and sustenance in the US. OYO offers a unique and inclusive proposal that, supported by technology, allows us to boost hotels. Today, the company is synonymous with quality stays, innovation, and is driven by passionate, mission-oriented individuals. We are deeply committed to continuing the momentum of OYO's recovery while contributing to the hospitality industry at large."
David Buddemeyer, one of OYO's asset partners and President of Driftwood Hospitality Management, sharing his thoughts on working with Kasra, said, "Kasra and his team have been a pleasure to partner with on our first OYO property. They always listen to my team's feedback and make sure we're set up for success. I'm excited about the impact Kasra will bring for OYO across the US."
OYO Hotels offers end-to-end support to its asset partners, including customer support, OTA management, revenue management and drives strong direct demand to its partner hotels. It utilizes data and analytics to ensure that an available room sells at the best possible price while delivering higher occupancy and revenue for partners and quality stay for guests.
*RevPar or Revenue Per Available Room is a common metric used in the hospitality industry to measure a hotel's performance. It's calculated by multiplying the hotel's average room rate (ARR) by its occupancy.
About OYO Hotels & Homes
Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, today is one of the world's leading chain of hotels and homes. OYO today operates in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Middle East, Southeast Asia, and Japan. In the United States, OYO has 300+ hotels across 200+ cities in 37 states. For more information, visit https://www.oyorooms.com/us/
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