OYO started a joint venture in Japan with Yahoo Japan Corporation, forming ‘OYO Technology and Hospitality Company’, Japan.
Hiro Katsuse, former Japan market leader for Handy and Booking.com is appointed as the CEO of the newly formed company.
Recently, OYO started operating in Saudi Arabia as well, on the arrival of Saudi prince ‘Mohammed bin salman’ in India.
The deal was with 50 hotels in the country for more than 3,000 rooms across seven cities.
India’s largest hospitality company
OYO Rooms, commonly known as OYO, is India’s largest hospitality company consisting mainly of budget hotels. It was founded in 2013 by Ritesh Agarwal and has since grown to over 8,500 hotels in 337 cities in India, Malaysia, UAE, Nepal China and Indonesia.
“After successfully growing our business in our home markets, India and China, and expanding our presence to nine countries, we are really excited about commencing our operations in our third and potentially the largest home market – Japan, through a joint venture with Yahoo! Japan to form OYO Technology & Hospitality Company, Japan. This new entity will be focused on creating unique living experiences for the Japanese citizens, students, and young professionals, looking for good quality affordable accommodations, starting with our fully managed homes brand, OYO LIFE,” said Ritesh Agarwal, CEO and Founder, OYO, said in a statement.
Yahoo! Japan Corporation
Yahoo! Japan Corporation is a Japanese internet company, originally formed as a joint venture between the American internet company Yahoo! and the Japanese Company Softbank.
Yahoo! Japan’s web portal is the most visited website in Japan, and its internet services are most dominant in the country.