Oyo, SoftBank take majority stake in Japanese apartment operator
India’s hospitality unicorn Oyo and its principal backer SoftBank Group have acquired an 80% stake together in Japanese apartment rental operator MDI.
The deal has cost about $100 million according to one person familiar with the matter.
There are about 37,000 rooms operating under MDI management which generated about $1 billion in revenue.
According to an Oyo spokesperson the company aims to ‘leverage MDI’s strong network and business development capabilities in Japan’s real estate market’ the Nikkei Asia Review reports.
Once the deal goes through, Oyo plans to add some of MDI’s listings on the OYOLife room rental platform.
Oyo already has a portfolio of about 2,000 rooms in Japan which is still a relatively new market for the Indian hospitality giant.
Oyo now offers vacation rentals in dozens of countries, which was significantly boosted after its acquisition of Netherlands-based Leisure Group in a $400 million deal.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Strike action set to cause travel chaos at Brussels airports
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent