The homegrown hospitality brand OYO has now added Japan to its international footprint with the launch of OYO Hotels Japan. The entity formed is OYO Hotels Japan G.K. and the partnership is between OYO Hotels and Homes and SoftBank Corp. and SoftBank Vision Fund. OYO is already rated as the 6th largest hotel chain with properties in India, China and other Asian countries. One of OYO’s founding members, Prasun Choudhary will be the operating partner and will lead the team.
The overall business model will remain the same in Japan with the owners of properties signing up with OYO and once the branding is taken care of, they can relax and concentrate on entertaining their guests. OYO will be responsible for managing the bookings through its app. The company claims its use of latest technology is capable of helping the hospitality industry in Japan.
SoftBank Corp.’s CEO & President Ken Miyauchi has commented that they are delighted to associate with OYO in serving the Japanese market. They call OYO a Vision Fund portfolio company, having made investments in the Indian startup. They feel their knowledge of the Japanese market and OYO’s proven capabilities in the hospitality business will auger well for the new venture OYO Hotels Japan. Miyauchi has pointed out that the dynamic pricing and reservation systems offered by OYO will be an added attraction for travellers to Japan. The expanding tourist arrivals in Japan will be fully exploited by OYO.
OYO’s use of 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 are all referred to in the official communication by the company making the announcement of this OYO Hotels Japan launch. “OYO Hotels Japan aims to empower small and independent asset owners in Japan with its rapid transformation capabilities and integrated hotel/ ryokan management system powered by advanced AI technology that will help owners improve both their efficiency and profitability,” is how the company has described its objective with the new venture.
OYO Hotels Japan is not its first foray in the Japanese market. It had made a recent announcement about OYO LIFE, its housing rental business.