OYO to enter housing rental segment in Japan
Hospitality firm OYO Friday said it has entered into a joint venture (JV) with Yahoo Japan Corporation to make a foray into the housing rental market in Japan, targeting the young population. Through the JV, named as OYO Technology & Hospitality Company, Japan, OYO will bring its housing rental product from India — OYO Living — rechristened as OYO LIFE to Japan from March 2019, OYO said in a statement.
“Japanese entrepreneur and former Japan market leader for Handy and Booking.com, HiroKatsuse, has been appointed as the CEO of the newly formed joint venture company,” it added.
OYO LIFE will target the young and growing population of Japan, starting with students and young professionals, the statement said.
“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 Hotels and Homes CEO and founder Ritesh Agarwal said.