Talking about new business expansions, Japanese conglomerate SoftBank Corp said its joint venture with Indian OYO Hotels & Homes (OYO) is scheduled to begin operations in Japan in September 2019. “It will conduct an innovative hotel business that leverages OYO’s hallmark features such as total consulting for hotels and AI-based dynamic pricing,” SoftBank noted.
In April, OYO has announced the partnership with Tokyo-based SoftBank Corp. and SoftBank Vision Fund. The new venture will be led by Prasun Choudhary, VP Operations and Head South and East region at OYO as the operating partner.
“Combining OYO’s most advanced business model with SoftBank Corp.’s knowledge of the Japanese market, we will provide brand-new hotel experience to travelers in Japan. Moreover, OYO Hotels Japan offers various values for owners such as dynamic pricing and reservation systems, contributing to the elimination of labor shortages and flexible pricing”, Ken Miyauchi, president and CEO of SoftBank Corp. said.