SoftBank may dispatch officials to help ailing Oyo

Japan has been a market of particular import to the hotel-booking startup, whose founder and chief executive officer Ritesh Agarwal earned SoftBank supremo Masayoshi Son’s (pic)favour and benefited from SoftBank’s brand association and promotion

TOKYO: SoftBank Group Corp is dispatching two executives to help Oyo Hotels, one of the largest startups in its portfolio, right its virus-stricken business in Japan, according to people familiar with the matter.

Oyo Japan, a joint venture between the Indian online hotel operator and SoftBank’s domestic telecoms unit, is creating a six-member management oversight committee to deal with the situation, the people said, asking not be identified because the details are not yet public.