OYO Life is OYO's latest project, and one that is bringing the OYO brand to Japan. Beginning in the next month, OYO Technology & Hospitality Company, Japan, the joint venture between OYO and Yahoo Japan will offer a new house rental service for the Japanese people.
SoftBank-backed OYO is continuing its global expansion by foraying into Japan with a housing rental service targeting Japanese students and young professionals.
The service, called OYO Life, will be available from the beginning of next month and will be offered by OYO Technology & Hospitality Company, Japan, the joint venture entity between OYO and Yahoo Japan. Hiro Katsuse, former Japan market leader for Handy and Booking.com, has been appointed as the chief executive of the joint venture.
This comes after piloting a few properties in the capital city of Tokyo in October last year. Sources said at the time that Japan could be the company’s next major market, after India and China.
The decision to enter the Japanese market has also been driven by the anticipated growth in the country’s hospitality sector, which is expected to witness significant growth over the next year, given that Tokyo is scheduled to host the 2020 Summer Olympic Games.
OYO said the service will combine Yahoo’s marketing and distribution capabilities with OYO’s ability to manage rental housing properties with the help of technology.
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