OYO Japan Merges Hotel & Rental Business
OYO in Japan is merging its hotel business and its rental venture – OYO Life. The merged entity will be then called OYO Japan. OYO had launched in Japan in 2019 through OYO Life – its rental apartment business. Riding into the country on the back of its investor – SoftBank, OYO was hoping to make a splash. Yahoo had also bought 30% shares in OYO’s subsidiary company in Japan – OYO Life. However, within seven months, Yahoo sold those shares back to OYO. As per the company, both the businesses are ‘complementary’ and that the move is along the lines of the start-up’s global operations. It is the right time to merge operational capabilities and technology that have been built by our teams in Japan. Globally, OYO operates a diverse portfolio of hotels, homes and rental accommodation under the umbrella of OYO Hotels & Homes and similarly, it is integrating both the businesses in Japan with the belief that this will strengthen its value proposition. The OYO team in Japan has built technologies including an instant home leasing platform, local revenue partner integrations, on-demand cleaning services, real estate services vendor network, dynamic pricing engine, among others.
Tags : INTERNATIONAL