OYO appoints former Starbucks COO Troy Alstead as independent board member

In a statement, the company said Troy will join the board that includes industry experts like Gerardo Issac (Gerry) Lopez, Operating Partner at SoftBank Vision Fund; Betsy Atkins, CEO and Founder of Baja Corporation; Munish Varma, SoftBank Investment Advisers; Bejul Somaia, Managing Director, Lightspeed Venture Partners; Mohit Bhatnagar, Managing Director, Sequoia Capital; and Aditya Ghosh. 

“OYO, with its unique asset-light business model and strong data capabilities, is creating something entirely new for more than three billion middle-income travellers and city dwellers who need accommodations that meet their standards and also their budgets,” Troy said. 

As an independent member of the Board, Troy will play a supervisory role and provide guidance to the founder and the management, on key business decisions, the hospitality unicorn added. 

Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes, said,

“Troy brings tremendous operating and governance experience that will help us continue delivering on our mission to help millions of middle-income people around the world gain access to quality accommodations at different price points.”

Troy is also Founder, President, and CEO of Ocean5, the new place for playing, meeting, and dining, and Table 47, the new farm-to-table restaurant, both located in Gig Harbor, Washington. He is also on the Board of Topgolf Group Ltd, Harley-Davidson Inc, and Levi Strauss & Co. 

Known worldwide as a new-age young hospitality startup, Ritesh Agarwal-led OYO Hotels & Homes has attracted some of the world’s leading investors, including Airbnb Inc, SoftBank Vision Fund, Sequoia Capital, Lightspeed, and Hero Enterprise. 

Opening its doors in 2013, OYO today operates in over 800 cities in 80 countries, including the US, Europe, UK, India, Middle East, Southeast Asia, and Japan.