Oyo Hotels, one of the largest startups in SoftBank Group Corp.’s portfolio, is dramatically shrinking its footprint and head count in Japan as bookings in the country plunge due to travel restrictions.
The Indian startup slashed its regional presence by closing offices in Sapporo, Sendai, Nagano, Hiroshima and Omiya, Saitama Prefecture, at the end of June, Chief Business Officer Ryota Tanozaki said in an interview.
Oyo is also looking to downsize its Tokyo headquarters, which occupies two floors in an office building that's walking distance from the Imperial Palace, he added. The moves extend the company’s ongoing effort to downsize internationally as it adapts to a tourism industry made much smaller by the coronavirus outbreak.