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Budget hotel chain, OYO Hotels and Homes, on Thursday announced the commencement of its hotel operations in Japan through a joint venture with Tokyo-based SoftBank Corp and SoftBank Vision Fund to form OYO Hotels Japan G.K. (“OYO Hotels Japan”).
The new venture will be led by Prasun Choudhary as the operating partner, who is also an OYO founding member.
"We are delighted to deliver Oyo's innovative service to the Japanese market. Given our shared vision for a digital future, we are excited to support the vision fund portfolio company in deploying cutting edge technologies and services to Japan," said Ken Miyauchi, President and CEO, SoftBank Corp.
He added that by combining Oyo's most advanced business model with Soft Bank Corp's knowledge of the Japanese market, the aim is to provide a brand new hotel experience in Japan.
These hotels will provide standardised, affordable and trusted options for both domestic and international business and leisure travellers, according to the statement issued by the company.
"We recently announced the launch of our beautiful living spaces in Japan, starting with the housing rental business, Oyo Life. Now, through our new entity, Oyo Hotels Japan, we will be focused on creating unique hospitality experiences for both domestic and international travellers in Japan," said Ritesh Agarwal, Founder, Oyo Hotels and Homes.
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