OYO and SoftBank Group in Japan has acquired an 80% stake in MDI
OYO will list a section of 37,000 rooms under MDI management on its platform
OYO has existing inventory of more than 2,000 rooms in Japan
In another instance of OYO’s acquisition strategy for growth, the Gurugram-based hospitality decacorn with SoftBank Group has reportedly acquired a Japanese apartment rental company, MDI.
A Nikkei Asian Review report cited sources saying that the joint venture of OYO and SoftBank Group in Japan has acquired an 80% stake in MDI for $100 Mn. The deal is said to benefit OYO in leveraging MDI’s strong network and business development capabilities in Japan’s real estate market.