OYO lately announced the joining of Martin HP Söderström in the company’s Board of its European Vacation Homes business (OVH) as a non-executive Director. A part of the deal was that Martin will be buying shares worth an undisclosed amount in the parent company.
Martin will work closely with the top management of OYO to provide continued and sustainable growth in the company, give guidance on potential M&A opportunities, assist the startup in building deep strategic partnerships with other leading EU-based companies, and lay-out its brand positioning strategy as a thought leader in the vacation rental space, OYO said in a statement.
“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." said, Ritesh Agarwal, Founder & Group CEO, OYO Hotels and Homes.