IPO-Bound OYO Parent Rejigs Top Deck To Steer Global Business

OYO parent PRISM has made significant changes in its top deck in the run up to filing for its much awaited initial public offering (IPO).

In this, ex-OYO Vacation Homes’ CEO Ankit Tandon has been elevated to the role of COO of the entire group as well as the CEO of its Europe business. In his new role, Tandon will oversee business performance and operations for the entire portfolio of brands operating under PRISM.  These include G6 Hospitality, Belvilla, DanCenter, Sunday Hotels, CheckMyGuest, MadeComfy, among others.

Tandon will be stepping into the international role after OYO’s International Hotels & Homes CEO Gautam Swaroop exited the company, PRISM said in a statement. The company noted Swaroop’s critical role in spearheading its US expansion and building other international businesses. Moving on, he will be looking to start his own venture.

Along with Tandon’s elevation, PRISM also announced the elevations of key management personnel to steer its international business. 

These key leadership changes include: 

• The role of PRISM OYO India COO Varun Jain has been expanded to Asia as COO.
• OYO’s global CRO Shirish Damani will take up the role of COO for Europe Homes & Hotels to drive supply growth and global M&A efforts.  
• Global chief service officer Shreerang Godbole will also lead operations for PRISM’s Scandinavian rental marketplace listing DanCenter. Besides, he will also work closely with Tandon to oversee the integration and growth of MadeComfy and the US PropCo operations.

The top level rejigs comes at a time when the travel tech major is taking a third short at its public listing seeking valuation of $7-8 Bn and is speculated to file its papers for the IPO next month. 

In September, the Ritesh Agarwal-led company adopted a new corporate identity called “PRISM Life,” highlighting its expansion into new categories. Notably, the company has made more than 15 acquisitions so far including Leisure Group (Germany), Direct Booker (Croatia), Bornholmske (Denmark), CheckMyGuest (France), G6 Hospitality (US), and MadeComfy (Australia), as well as Innov8 and Weddingz in India. 

On the financial front, PRISM reported a net profit of INR 244.8 Cr in FY25, up 7% from INR 229.6 Cr in the previous fiscal year. Meanwhile, its operating revenue recorded a 16% YoY  uptick to touch INR 6,252.8 Cr in the year under review.