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PRISM announces top-level reshuffle to boost international growth

EntrackrEntrackr · 23d ago
PRISM announces top-level reshuffle to boost international growth
Medial

PRISM, the parent company of OYO, has announced a leadership realignment aimed at strengthening its global operations and expanding across key markets. Ankit Tandon, currently CEO of OYO Vacation Homes, has been promoted to Chief Operating Officer of PRISM and CEO, Europe. In his expanded role, he will oversee PRISM’s global business performance, including brands such as Belvilla, DanCenter, and Sunday Hotels. Tandon will also manage operations across Europe, the UK, and the US, which includes G6 Hospitality, the parent company of Motel 6 and Studio 6. He will continue to lead the Vacation Homes business, including CheckMyGuest in France and MadeComfy in Australia. Varun Jain, earlier COO for India, has been appointed COO for Asia. His expanded mandate covers India and the SEAME region (Southeast Asia and the Middle East). He will also oversee Traum Ferienwohnungen in Germany. Within India, Innov8 and Weddingz will report to him, supported by Pankhuri Sakhuja and Nitin Gupta. Shreerang Godbole will continue as Chief Service Officer, leading customer experience and operations across PRISM businesses. He will also manage operations for DanCenter and MadeComfy. Shirish Damani has been appointed COO for Europe Homes & Hotels. He will work closely with Ankit Tandon to drive supply, revenue, and margins across key European brands, while continuing to lead global M&A efforts. Meanwhile, Gautam Swaroop, who led PRISM International and Traum Ferienwohnungen, is exiting to pursue new technology-led ventures but will continue to advise the company. The leadership changes come soon after the rebranding of OYO’s parent company as PRISM. PRISM operates OYO and a portfolio of hospitality and living brands across 35 countries, serving over 100 million customers globally. According to the company’s annual report for FY25, OYO recorded a profit after tax (PAT) of over Rs 200 crore in Q1 FY26, a sharp rise from Rs 87 crore in the same quarter last year.

OYO posts over Rs 200 Cr profit in Q1 FY26; rebrands parent as PRISM Life

EntrackrEntrackr · 1m ago
OYO posts over Rs 200 Cr profit in Q1 FY26; rebrands parent as PRISM Life
Medial

OYO posts over Rs 200 Cr profit in Q1 FY26; rebrands parent as PRISM Life As per the company’s annual report 2024-25, OYO clocked a profit after tax (PAT) of over Rs 200 crore in Q1 FY26, a sharp jump from Rs 87 crore in the same quarter last year. Oravel Stays Limited, which operates OYO, kicked off FY26 on a strong note with profits more than doubling in the first quarter of the ongoing fiscal year. The report further highlighted that the company achieved an EBITDA of Rs 550 crore during the quarter, while revenues surged 47% year-on-year to Rs 2,019 crore. Its gross booking value (GBV) grew 144% YoY to Rs 7,227 crore, reflecting strong recovery and demand momentum across markets. Alongside the financials, the company’s board has also cleared a 1:1 bonus share issuance for existing shareholders. For the full year FY25, OYO reported a consolidated revenue of Rs 6,252.8 crore, 16% more than the previous fiscal, with an EBITDA of Rs 1,100 crore, and a consolidated PAT of Rs 2,448 crore. Its GBV for the year stood at Rs 16,250 crore, growing 53% year-on-year. In a strategic move to sharpen its identity as a lifestyle and hospitality tech conglomerate, Oravel Stays has introduced a new parent brand PRISM Life (shortened as PRISM). The new identity will act as the corporate umbrella housing OYO and its other premium brands such as Belvilla, Palette, Clubhouse, and Sunday Hotels. The Gurugram-based company has also been pushing premiumisation while expanding globally. In FY25, it deepened its footprint in the US through the acquisition of Motel 6 and Studio 6, and scaled its home business under Belvilla, Dancenter, and CheckMyGuest in Europe. By March 2025, OYO’s portfolio included over 120,000 vacation homes and 21,000 hotels across more than 35 countries. Founder and chairman Ritesh Agarwal said in his letter to shareholders that the long-term goal is to transform the group into one of the world’s leading lifestyle companies under PRISM, leveraging technology, AI-driven revenue management, and diversified hospitality brands.

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