India’s Oyo Hotels to begin Japan operations in September [Infographic]
One of Oyo’s USPs is that it operates both hotels and homes.
Oyo Hotels partners with SoftBank Corp and SoftBank Vision Fund to expand into the land of the rising sun.
India’s Oyo Hotels and Homes is making moves to grow its presence in Asia, with new plans announced for expansion in Japan in the not so distant future.
A partnership with Japanese conglomerate SoftBank Corp will ensure that Oyo gets to where it needs to go. We find out more.
Oyo soars in Asia Pacific
Indian hotel group Oyo Hotels and Homes is going from strength to strength in its home market of the Asia Pacific region. Having already made serious waves in China, where its footprint is double that of its native India, Oyo is setting its sights on another ripe regional market – Japan.
Oyo is doubling down on its partnership with Japanese conglomerate SoftBank Corp, the same company who led Oyo’s $1 billion fundraising initiative last year through their Vision Fund. The partnership with SoftBank and Oyo’s expansion strategy into Japan, which is due to commence in September, and will be led by Prasun Choudhary, VP Operations and Head South and East region at Oyo.
According to the TOPHOTELCONSTRUCTION online database 85 hotel projects are currently in the pipeline in Japan:
Unique experiences in hotels and homes
One of Oyo’s USPs is that it operates both hotels and homes, giving it a foothold in a few different markets and allowing it to appeal to a broad cross section of travelers. This is something that both SoftBank and Oyo know is a strength, and it also helps that Oyo covers the budget to midscale sector of the hospitality market.
Ken Miyauchi, president and CEO of SoftBank Corp, said, “Combining Oyo’s most advanced business model with SoftBank Corp’s knowledge of the Japanese market, we will provide brand-new hotel experience to travelers in Japan.”
“Moreover, Oyo Hotels Japan offers various values for owners such as dynamic pricing and reservation systems, contributing to the elimination of labor shortages and flexible pricing,” he added.
SoftBank has prior experience bringing recipients of its funding initiatives to Japan, including office rental start-up WeWork.
Let’s take a look at few more hotel projects in Japan:
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