Oyo Entices Virus-Stricken Hotels in Japan With Cash

Oyo Hotels, one of the largest startups in SoftBank Group Corp.’s portfolio, is promising cash to hotels in Japan that join its platform as bookings plunge in the coronavirus-stricken country. The Indian startup, looking to get more hotels into its network and expand its reach, will pay new members a lump sum equal to a proportion of their past year’s revenue, the company said in a statement on Friday.