After China, OYO launched its service in Japan
The budget hospitality chain OYO has been expanding to various countries for a long time. After China, Australia and many other countries, the company is now foraying into Japan which is the world’s third-largest economy.
The Gurugram-based hotel chain lately raised $800 million in its latest round of funding that was led by SoftBank’s Vision Fund, following which, the valuation of the company reached $5 billion.
The move also comes less than a year after the hospitality company entered China in December last year, a geography that it has identified as a core market, alongside India. According to the sources, Japan could also be the company’s next major market, after India and China.
The step to enter Japan has also been driven by the expected growth in the country’s hospitality s...