Oyo to Flood Japan With Budget Hotels in New Deal With SoftBank
Photo Credit: Hiroshima, Japan. Photo Credit: A&K China.
Skift Take
Japan is a destination that’s never, ever described as affordable. But Oyo, with its budget hotel concept, could be transformational for its tourism economy.
Oyo will flood Japan with budget hotels through a new joint venture with SoftBank and SoftBank Vision Fund.
Details, such as the financial investment poured into the joint venture company, Oyo Hotels Japan, were not disclosed.
The new agreement is hard on the heels of Oyo’s recent partnership with Yahoo Japan, which will bring, specifically, its home-rental model Oyo Living to Japan.
The latest deal will focus on expanding Oyo Hotels, the fastest-growing budget accommodation brand in the world that has turned its founder Ritesh Agarwal into something of a “one to watch” in the hospitality world.
See Oyo founder Ritesh Agarwal at Skift Forum AsiaExpansion details, such as number of budget hotels and rooms it expects to have in Japan, were also not available at press time. Oyo has appointed Prasun Choudhary, an Oyo founding member who it
