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Oyo hits 100 hotels milestone in Japan

Softbank has invested almost USD 1 billion in Oyo.

Oct 25, 2019 by The Passage Team
Oyo hits 100 hotels milestone in Japan

Hospitality startup Oyo Hotels and Homes' has launched over 100 hotels in Japan across 50 cities including Tokyo, Osaka and Kyoto.

Oyo’s first offering in Japan was Oyo Life: rental accommodation for young professionals, students and millennials. The company later announced the launch of Oyo Hotels Japan G.K. — a joint venture with Tokyo-based SoftBank Corp. and SoftBank Vision Fund. Oyo Hotels Japan GK is led by Prasun Chaudhary as the operating partner. Prasun is an Oyo founding member and has successfully launched a number of global Oyo businesses.

Ritesh Agarwal, founder and Group CEO, Oyo Hotels and Homes, said, in the statement, “Oyo was started with a simple belief that everyone deserves a beautiful living space. As the world's second-largest hotel chain, we are focused on expanding our presence and offering great hospitality experiences to over 3.2 billion middle-income travellers in the world. The service launch with over 100 hotels in Japan is a step forward in that direction. We will continue to be invested in driving efficient growth in Japan and across the globe."

Softbank has invested almost USD 1 billion in Oyo. Last month, the company has announce hitting the milestone of more than 100 hotels in the United States

Oyo claims to be the world's third-largest hotel chain. The company has attracted some of the world's leading investors, including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital, and Hero Enterprise.

The portfolio combines fully operated real estate comprising of more than 23,000 hotels and 125,000 vacation homes. Additionally, OYO along with Vacation Homes categories managed by the company under OYO Homes, Belvilla, Danland, Dancenter along with Germany-based Traum-Ferienwohnungen brands can be found in more than 800 cities in 80 countries, including the U.S., Europe, U.K., India, Malaysia, Middle East, Indonesia, Philippines, and Japan.

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The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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