Ritesh Agarwal, CEO & Founder of OYO Hotels gives up his salary

COVID-19 has had a significant impact on the global hospitality industry, with occupations of several hotel chains drastically affected. In this difficult and unprecedented period, Ritesh Agarwal, the Founder and CEO of the OYO Group, has decided to give up 100% of his salary for the rest of the year. The entire executive leadership team at the company has taken a voluntary pay cut starting at 25%, many opting for an additional amount with no cap, and some going up to 50% to support the company. This would be effective in April 2020: everyone in the company has closed ranks and is united to overcome these challenging times.

OYO Hotels is proud to have preserved each and every one of the leaders of the CXO group in the history of the company, and in a difficult moment like this, the executive management has been strong and united, as true partners of the company. .

In this regard, Ritesh Agarwal, Founder and CEO of the group said, "We consider that the current situation worldwide is deeply sensitive. OYO is doing everything possible to support the world with its limited resources in this pandemic, since the creation of centers from isolation to finding a safe place for those who provide first aid. Given the current business situation, which is unprecedented in our industry worldwide, I am giving up 100% of my salary for the rest of the year. I am grateful to my leadership team, which has also made salary cuts and supported the company during these difficult times. At OYO we are committed to fighting COVID-19 and will try to do everything in our power to reach the people and help you, while ensuring the long-term success of the company, and our ability to continue to fulfill our mission of offering better spaces for life for all, at the right prices, worldwide. ”

With the aim of offering a resource of support for the actions and measures of the Federal Government and different local authorities to join efforts against COVID-19 in Mexico, OYO Hotels is in communication with medical personnel from different hospitals in strategic locations in the country to donate 1,000 nights of free accommodation to health professionals who directly address the health emergency.

OYO Hotels has implemented a series of measures in its properties that contribute to the prevention of COVID-19 contagion and are in line with the instructions of the health authorities; the company distributed more than 1,200 liters of antibacterial gel (more than 2,500 bottles) to its hotels throughout the national territory.

Additionally, OYO Hotels launched an information campaign aimed at all its hotels to guarantee the most demanding hygiene standards in accordance with the recommendations of the World Health Organization and the Ministry of Health