Oyo life now live in tokyo with 1000+ keys;

 Oyo yahoo! joint venture company gets a head start in Japan!

New Delhi, April 01, 2019: OYO Technology & Hospitality Company, Japan, the joint venture between OYO - South Asia’s largest, and the world’s fastest growing chain of hotels, homes and quality spaces - and Yahoo Japan Corporation (“Yahoo! JAPAN”) recently announced that OYO LIFE will now be available to customers across Tokyo. Geared to provide a hassle-free, tech-driven, upgraded living experience at an affordable price, OYO LIFE goes live with over 1000 keys across Tokyo. Within days of the announcement of the service, the company has already received over 11,000+ pre-registrations and has become extremely popular amidst students and young professionals, touching an occupancy of over 114% at the time of launch itself.

“We are really excited to announce that OYO LIFE is now live in Tokyo. OYO LIFE is focused on creating unique living experiences for the Japanese citizens, students, and young professionals, looking for good quality affordable accommodations. OYO is already the most preferred brand in the budget to mid-segment hospitality space in several markets like India and China, where our operational expertise in identifying, transforming and managing properties has helped us gain significant momentum, and we are certain that we will continue to grow in Japan and deliver great value in the Japanese market,” said Ritesh Agarwal, CEO & Founder, OYO Hotels and Homes, who was in Tokyo during the service launch and was accompanied by Hiro Katsuse, newly appointed CEO of OYO Technology & Hospitality Company, Japan, and Kentaro Kawabe, CEO, Yahoo! Japan.

Tokyo is the world’s largest and most populous metropolitan city and presents immense possibilities for the sharing economy. More broadly, Japan is a strong representation of the world’s largest housing rental markets. Japan has traditionally been a real estate market where rental housing requires the availability of security deposit, non-refundable key money as well as introduction fee for real estate agents, thereby creating difficulties, especially for first jobbers to rent a property.

OYO LIFE eliminates these charges in Japan through locally relevant, unique solutions. Two such novel solutions were also launched today.

First, OYO LIFE launched the OYO Passport program, which is a first-of-its-kind, subscription-based membership program that is going to be available free of cost to OYO LIFE residents. (This subscription will be free for the first month.) Through OYO Passport, subscribers will receive unlimited access to offers, discounts, trials, and events. The passport will help people avail benefits from a growing list of companies that are part of the Sharing Economy Association of Japan (SEAJ). The suite of companies offering discounts and benefits include those providing housekeeping services as well as laundry etc.

Further, to digitize the Japanese real estate market and complement the online offering with an offline presence, OYO LIFE also launched OYO Partner Real Estate Stores in Japan today. OYO Partner Real Estate represents a chain of stores and customer touchpoints for what is intended to be an enduring partnership with the real estate industry in Japan. This is aimed at empowering people in the real estate industry to take advantage of the internet economy. Every OYO Partner Real Estate store will offer opportunities for people to drive awareness of available OYO LIFE buildings and generate supply as well as demand, and also encourage more people to become entrepreneurs and open more stores where people can find information on properties to rent. OYO Partner Real Estate currently has over 30 stores in Tokyo including areas like Roppongi and Azabu-Juban.

“With the launch of OYO LIFE, we are all set to leverage OYO’s hospitality experience to offer a first-of-its-kind, end-to-end fully managed housing experience. I look forward to leveraging our partnership with Yahoo! Japan and OYO's expertise from across the world to scale OYO LIFE, a product built in Japan for the Japanese customers. We are delighted to have Yahoo! Japan's support as we bring OYO LIFE to more and more people in Japan,” added, Hiro Katsuse, CEO of OYO Technology & Hospitality Company, Japan.

OYO LIFE has also built its presence on Yahoo! Japan - the country’s most popular internet platform through integrations with Yahoo! Japan search engine, homepage, travel and real estate portal. Yahoo! Japan’s local knowledge, expertise, and extensive reach will help more people access information related to OYO LIFE so they can take advantage of the rental housing offers and opportunities. 

"We are really happy to partner with OYO, through this joint venture that promises to deliver good quality fully managed homes at affordable prices. With our local know-how, online distribution network and marketing support, OYO LIFE will soon emerge as the most preferred abode for the Japanese citizens and visitors in the country," said Kentaro Kawabe, CEO, Yahoo! Japan.  

●        OYO LIFE service is now available to customers across Tokyo. The company has already received over 11,000+ pre-registrations, and occupancy of over 114% at the time of launch

●        OYO LIFE goes live with over 1000 keys across Tokyo, providing hassle-free rental furnished apartments & eliminating the need for a security deposit, key money and introduction fees for rental home seekers in the country

●        OYO LIFE introduces a subscription-based membership program for Japanese customers - ‘OYO Passport’ offering discounts and deals from hundreds of corporate partners in Japan 

●        OYO LIFE also launches ‘OYO Partner Real Estate’ stores for helping people find apartments in Tokyo and for digitizing the real estate industry

●        OYO LIFE gets integrated into Yahoo! Japan search engine, main homepage, travel portal as well as Fudosan- Yahoo! Japan’s real estate portal.

●        OYO LIFE in Japan is a joint venture between YAHOO! JAPAN and OYO and combines Yahoo’s marketing and distribution capabilities with OYO’s ability to transform and manage rental housing properties with the help of technology 

●        Hiro Katsuse is CEO, OYO Technology & Hospitality, Japan

About OYO:

OYO is South Asia’s largest and the world’s fastest growing chain of hotels, homes & spaces! With footprints in more than 500 cities across 10 countries - India, China, Malaysia, Nepal, the UK, UAE, KSA Indonesia, the Philippines and more recently Japan. With over 18,000 franchised or leased hotels in its chain and over 6000 homes. OYO is backed by leading investors, including the SoftBank Group, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise and China Lodging Group. For more information, log on to https://www.oyorooms.com/