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