SoftBank Will Support OYO Hotels In China: Masayoshi Son

SoftBank Will Support OYO Hotels In China: Masayoshi Son

SUMMARY

Softbank Chief Masayoshi Son Calls OYO Hotels A ‘Next Generation Company’ And Reiterates His Commitment To India

After being part of four funding rounds worth $512 Mn in OYO Hotels since August 2015, suddenly SoftBank seems to be putting all its hopes on this Gurugram-based hotel room aggregation company, which is expanding its presence in China.

Speaking at the Tokyo-headquartered Softbank’s 38th annual general meeting on Wednesday, the group’s chairman and chief executive Masayoshi Son called OYO Hotels a “next generation hotel company using the Internet service”. Son also revealed his plans to support OYO Hotels in its foray into China through a joint venture.

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