OYO Rooms has penetrated the market of Japan with a housing rental service which will cater to students and young professionals of the country.
The Service by the name OYO Life will become operational from the month of March this year and will be owned by OYO Technology & Hospitality Company, Japan, a joint venture involving Yahoo Japan and OYO.
The company has appointed Hiro Katsuse as its Chief Executive Officer who in his previous stints handled Booking.com. Japan comes as the third major country where OYO has marked its presence after India and China.
Japan is expected to observe a considerable growth in its hospitality sector as the country’s capital city of Tokyo will host the 2020 Summer Olympics.
“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. 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 & Founder, OYO Hotels and Homes.
OYO Life will include fully furnished accommodations with amenities including television, furniture, Wi-Fi, housekeeping, CCTV Surveillance and digital locks for security. The service will also offer round the clock assistance at no additional costs.
OYO has stated that managing the properties will be its responsibility which will include regular maintenance and rental incomes to property owners. The Gurugram headquartered hospitality major recently raised $1 billion funding from VC majors including Softbank, Didi Chuxing and Grab.