OYO launches hotels in Japan in SoftBank joint venture

Hospitality unicorn OYO has diversified its Japanese arm has launched operations in over 100 hotels. This will be a joint venture with the majority investor SoftBank Group, as the company is seeking profitability. It will be extended over 50 Japanese cities, including Tokyo, Osaka and Kyoto. The tech giant has invested nearly $1 billion in OYO. The exact deal of the partnership is not clear but its vision fund will have 50%.