OYO has commenced its operations in Japan, through a joint venture with Yahoo Japan Corporation (“Yahoo! JAPAN”) to form OYO Technology & Hospitality Company, Japan. Through this entity, OYO will bring its housing rental product from India, OYO Living, re-débuted as OYO LIFE to Japan beginning of March, in 2019. Geared to provide upgraded living experiences at an affordable price, OYO LIFE aims to enter the housing rental segment in the country, targeting the young and growing population of Japan, starting with students and young professionals. Japanese entrepreneur and former Japan market leader for Handy and Booking.com, Hiro Katsuse, has been appointed as the CEO, the newly formed joint venture 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. OYO is already the most preferred brand in the budget to mid-segment hospitality space in several markets like India and China, where our operational expertise in identifying, transforming and managing properties has helped us gain significant momentum, and we are certain that we will deliver great value in the Japanese market,” said Ritesh Agarwal, CEO & Founder, OYO Hotels and Homes.
“We are really happy to partner with OYO, through this joint venture and are certain that with a 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.
These accommodations – apartments, homes, and shared spaces are easy to find and one can enjoy essential amenities, including 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. As more customers open up to ‘housing or managed workspaces as a service’, which presents a huge opportunity for OYO LIFE.