Days after picking an investment of over $100m from Airbnb, India’s largest hotel company Oyo has entered Japan in partnership with SoftBank and Yahoo Japan.
Oyo’s joint venture with SoftBank and the internet giant’s Vision Fund will cover hotel operations as ‘Oyo Hotels Japan’ and be led by Prasun Choudhary, an Oyo founding member. The financial details surrounding the venture have not been disclosed.
“Japan is fast emerging as one of the most popular tourist destinations in Asia. We at, Oyo Hotels & Homes, see this as a huge opportunity and are excited to contribute towards the growth of the local economy by promoting tourism,” said Ritesh Agarwal, group CEO and founder at Oyo Hotels & Homes.
“We are thrilled to now be able to offer OYO’s affordable, hassle-free and quality living experiences to guests across Japan – and to be empowering Japan’s independent hoteliers with the latest technology innovations like AI and Machine Learning powered hotel/ryokan management system, predictive analytics led pricing and revenue management and seamless operational expertise that helps them focus on customer experience and thereby generate increased, sustainable incomes.”
Alongside Yahoo, Oyo has launched a housing rental business in Japan called ‘Oyo Life’.
Oyo Life’s launch has come with a pair of unique solutions for the Japanese market. Oyo Passport is a subscription-based membership program available to Oyo Life residents, providing them with unlimited access to offers, discounts, trials, and events. The second solution, Oyo Partner Real Estate Stores, has been introduced to enable people to drive awareness of available Oyo Life buildings and to generate supply and demand.