OYO Hotels and Homes on Friday announced the commencement of its operations in Japan through a joint venture with Yahoo Japan Corporation (Yahoo! JAPAN) to form OYO Technology & Hospitality Company, Japan.
With this announcement, OYO plans to bring OYO Living, its housing rental product from India to Japan as OYO LIFE from March this year.
OYO has appointed Hiro Katsuse, Japanese entrepreneur, and former Japan market leader for Handy and Booking.com, as the CEO of OYO Technology & Hospitality Company.
“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.
OYO LIFE is aimed at bringing housing rental solution with ready to move in homes. These accommodations, which include apartments, homes, and shared spaces, will have amenities such as furniture, Wi-Fi connectivity, television, electronic household appliances, regular housekeeping, CCTV surveillance, digitally enabled locks for additional security, and 24/7 assistance, at no extra costs.
“We are really happy to partner with OYO, through this joint venture and promise to deliver good quality fully managed homes at affordable prices. With our local know-how, online distribution network and marketing support, OYO LIFE will soon emerge as the most preferred abode for the Japanese citizens and visitors in the country,” said Kentaro Kawabe, CEO, Yahoo! Japan.
With Japan and its recent launch in Saudi Arabia, OYO today has presense in more than 500 cities across 10 countries, including India, China, Malaysia, Nepal, the UK, the UAE, Indonesia, and the Philippines.