Leading boutique designer hotel collection Ovolo announces the forthcoming departure of Dave Baswal from his role as Chief Executive Officer, effective end of September. He has served with distinction since joining the company in 2016, initially as Director of Finance & Operations AU, progressing through roles including COO & CFO, Managing Director, and ultimately assuming the CEO position in 2022.

During his tenure, Dave played a pivotal role in steering Ovolo through unprecedented challenges faced by the global hospitality industry. His leadership was instrumental in guiding the company with resilience and adaptability, ensuring continued growth and success amidst a volatile landscape.

"I am immensely grateful for the opportunity to have led and grow Ovolo during a transformative period in its history," said Dave Baswal. "I leave with deep admiration for the dedication and creative passion of our team members, whose commitment has been pivotal in achieving our collective successes, to connect with our guest emotionally and truly do things differently."

"We extend our deepest gratitude to Dave for his significant contributions and unwavering dedication to Ovolo," said Girish Jhunjhnuwala, Founder and Executive Chairman of Ovolo Group. "Under his leadership, Ovolo has maintained its position as a leader and disrupter in the hospitality sector, and we wish him the very best in his future endeavours."

Following Dave Baswal's departure, Girish Jhunjhnuwala will resume the role of CEO in addition to his responsibilities as Executive Chairman. With an incredibly strong leadership team place across all regions Ovolo operates in, these roles will continue to report directly to CEO with Wayne Taranto, Lucas Chanter and Joel Bartlet continuing to lead operations in their respective regions of Australia, Hong Kong and Bali.

"As we navigate this leadership transition, Ovolo remains steadfast in our commitment to delivering exceptional hospitality experiences and driving innovation across our properties," Jhunjhnuwala added. "We are particularly focused on expanding our presence in Southeast Asia imminently, a strategic growth area for Ovolo, where we see tremendous opportunity to elevate our brand and redefine the guest experience.

We will miss Dave's skilful use of metaphors and analogies. We wish him the very best in his future endeavours and hope that this new chapter in his life brings him nothing but happiness and fulfilment,” Jhunjhnuwala concluded.

ENDS

For further inquiries, please contact:

Stephen Howard

Group Director of Marketing

T: +61 435 106 187 or +852 9881 8714

E: stephen.howard@ovologroup.com

About Ovolo Group

The Ovolo Group was founded by entrepreneur Girish Jhunjhnuwala and first entered the real estate market in 2002; then further expanded into the hotel industry in 2010. Ovolo Hotels quickly became one of Hong Kong and Australia's most dynamic independent owner operated hospitality firms, growing into a diversified international group with a collection of 9 designer hotels under 2 collections - Ovolo and Mamaka, and plans to keep growing. Ovolo owns and operates all of its real estate.

The company prides itself on being in touch with the modern traveller through award-winning interior designs, detail-driven comforts, complimentary value-added services, with cutting-edge technology. Ovolo Hotels have been acknowledged for Hotel and Accommodation Excellence, receiving the accolade “Hotel Brand of the Year”, at the 2019, 2020 and 2022 HM Awards.

A proud Hong Kong brand, Ovolo Group remains a family-owned and privately-operated business operating three hotels and three restaurants in Hong Kong, and five and six bars & restaurants across Australia in Sydney, Melbourne, Canberra and Brisbane.

Ovolo also has the By Ovolo Collective within its portfolio of hotels, a distinctive collection of four hotels each one unique, each one special, the more guests explore, the more they'll find. These include Laneways By Ovolo in Melbourne Australia, Nishi Apartments in Canberra Australia, Southside By Ovolo and The Aberdeen Harbour in Hong Kong, and Mamaka Kuta Beach in Bali Indonesia.