Why SoftBank Partnered With OYO Rooms For A Premium Hotel Chain

Why SoftBank Partnered With OYO Rooms For A Premium Hotel Chain

SoftBank is a Japanese multinational investment holding company focusing on investment management.
Oravel Stays is a company that operates travel and hospitality software.
Oravel is the parent company of OYO Rooms.
OYO Rooms is a multinational hospitality chain of leased and franchised hotels, homes and living spaces.
And in September 2023, it was announced that SoftBank and Oravel would join forces to create a new joint venture called Mountainia.
The goal is said to be launching a premium hotel chain in India.

The SoftBank-Oravel Stays JV is said to have plans to open 4 more Sunday hotels by the end of 2023.
And CapEx investments necessary for the venture’s expansion would be provided by the JV.
Both partners are said to hold a 49.9% stake in the JV.
And SoftBank already has a hotel joint venture with Oravel, known as Tabist, operating in Japan.

According to one report, the luxury travel market in India is poised to achieve a Compound Annual Growth Rate of about 13% between 2021 and 2026.
This growth trajectory is said to be primarily attributed to the growing disposable incomes of Indian citizens, a burgeoning population of high-net-worth individuals and a heightened awareness of luxury travel among Indians.
And in a post-COVID world, there’s said to be a surge in the preference for domestic exploration.

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