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Oyo Entices Virus-Stricken Hotels in Japan With Cash

Written by CRETech | Mar 16, 2020 9:35:39 PM

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.