Oyo Partners With Yahoo to Bring Its New Home Rental Model to Japan
Photo Credit: An Oyo Life listing in Japan. Oyo announced its move into the market recently as part of a joint venture with Yahoo Japan. Oyo Hotels & Homes
Skift Take
India's Oyo should feel at home in Japan, home of its biggest financier SoftBank. But will this automatically translate to success for Oyo? This is why it is starting its expansion in Japan with a new long-stay model.
India-based hospitality company Oyo has targeted Japan as its latest market for expansion.
The fast-growing startup has launched operations in Japan through a joint venture with Yahoo Japan and is fielding its new home rental model, Oyo Living, launched last October. This is a long-stay product with a minimum stay of 30 days.
“We are really excited about commencing our operations in our third and potentially the largest home market, Japan, through [this] joint venture [which] 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, founder and CEO of Oyo Hotels and Homes.
India and China are the other two huge markets for Oyo. In Japan, Oyo Life will be used instead of Oyo Living.
Yahoo Japan is majority-owned by Oyo's biggest funder, SoftBank. Hiro Katsuse, former chief of Handy
